System and method for secure and address verifiable electronic commerce transactions

摘要: An electronic commerce system, that electronically emulates the Mail Order/Telephone Ordering process on Internet, including customer and merchant network address verification. Customer verification are done electronically. Other parties than in could be as easily verified using system. (PKI) The system uses a Public Key Infrastructure to ensure secure irrefutable transactions Internet. PKI ensures party is whom he claims when used conjunction with verification, confidentiality of data transmitted between has not been altered during transmission. operates two phases: registration phase transaction phase. During each participant registers relevant then central trusted authority includes registering their banks Internet Service Providers. ISPs transmit digitally signed certificate pertinent information registrant. participant's Provider's contains encrypted identifying how logs onto where resides conducting transaction. these registered digital certificates verify credentials various participants appropriate public keys encrypt “for-your-eyes-only” basis, such only needs view will able decrypt it private key.