International Journal of Soft Computing and Engineering (IJSCE)
In this paper, the authors have designed an off-line e-cash payment system based on bilinear pairings for low-value transaction. They use the concept of proxy signcryption for communication among the entities. In their system, the token is issued & authenticated by Bank. Customer delegates the signing capability to Merchant. Bank verifies the original signer (customer) and proxy signer (Merchant) and ensures the originality of the transaction. Unlike the existing e-payment system question of double spending of e-cash arises because each transaction is made uniquely identifiable.