The check-like electronic currency payment system model is a typical network payment system model based on electronic checks, electronic ticket exchange, credit cards, online bank accounts, etc. It supports large, medium and small amount of fund payment and settlement, which is similar to the traditional paper check application system model. This model mainly involves three parties (buyers, sellers and their respective opening banks). Among them, the bank opening bank can be the same bank or different banks. In addition, the CA certification center is also involved on the network platform. The basic application process of check-like electronic currency payment can be briefly described as the following steps.
(1) Both the buyer and seller of e-commerce have their own bank accounts, and the buyer should have a certain amount of deposits in the opening bank.
(2) Before the buyer and seller start the transaction, the buyer first obtains an electronic payment ticket from the bank.
(3) The buyer hands the authorized electronic ticket to the seller. After the seller verifies the validity of the electronic ticket, the transaction process continues.
(4) The seller transfers the received electronic ticket to his own opening bank and requests the funds to be paid.
(5) The bank receives the electronic ticket from the seller, verifies and confirms it, performs fund settlement in the background, and sends a payment success message back to both the buyer and the seller.