To Pay or Not To Pay: Resolving Frauds in Auction with Mobile Payment

Abstract

With the growing popularity of the Internet, online auctions have been the efficient way of transaction. Online auctions break region restriction and reducing transaction cost. However, there are more risks in online auction, because it lacks contact face to face. Online auction frauds occur more and more, which cause buyers suffer many losses. Therefore, it’s urgent to construct a safer and more convenient payment scheme for avoiding frauds. This paper designs a mobile payment scheme in which the buyers purchase goods on the online auction website. Our mechanism can prevent frauds by taking advantages of multiple authentications by mediators. We will explain our payment processes in detail, discussing the security and why our model avoids frauds. Our mobile payment system can not only satisfy security criteria but also provide transaction privacy to buyers.