A Privacy-Preserving and Secure Scheme for Online Payment in the Realm of Mobile Commerce

Smart mobile devices play an undeniable role in our daily lives. Following the current trend, mobile commerce has gained much attention in the recent decade. In this paper, we design a novel privacy-preserving scheme for online payment in the context of mobile commerce to resolve existing security and privacy challenges. In addition to concerns about security and privacy, the regulatory control imposed by governments is another crucial factor to take into account. In other words, they must be able to trace suspicious financial transactions through regulatory agencies. We use a partially blind signature and blockchain technology to provide strong security and privacy protection. In our proposed protocol, a payer pays for online services and digital goods via a token, which is valued and signed by the bank. Furthermore, the payer can obtain the remaining balance of the price, in comparison to the service cost, by utilizing another token. Our protocol ensures anonymity and untraceability for daily purchases in which a huge volume of money is not moved. Hence, it can comply with regulatory agency guidelines. Comprehensive security and privacy analyses demonstrate our proposed scheme preserves privacy and withstands attacks in this area. According to performance analysis, our proposed protocol is also efficient, lightweight, and feasible.