A secure architecture for electronic check processing

Abstract

Traditional paper checks have been estimated to cost US banks over $2.1 billion dollars a year to process [1]. Much of the cost is due to the time and fees related to human intervention and the physical transport of a check. Gupta and Palacios [15] have defined a web-based check processing mechanism; this paper extends the framework they have developed and defines a cryptographic protocol for the transmission of digital checks using cryptographic building blocks like public key encryption and digital signatures.