Micropayment Report

In this deliverable, token-based and account-based micropayment systems are reviewed.

After discovering the problems of token-based micropayment and the advantages of applying account-based micropayment, an account-based micropayment system was built based on the Smart-M3 platform. The Smart-M3 platform was found a suitable solution to micropayment in a multi-vendor environment with the growing number of products and vendors.

The following goals were achieved utilizing the Smart-M3 platform:
- vendor can join the smart environment easily
- malicious information retrieval and cheating on transaction are prevented
- banking account and personal data is secured without hindering process of transaction and
- new vendors can be included in the system without changing the design.