Privacy enhanced electronic cheque system

Abstract

With the introduction of Check 21 law and the development of FSTC's echeck system, there has been an increasing usage of e-cheque conversions and acceptance among retailers, banks, and consumers. However, the current e-cheque system does not address issues concerning privacy, confidentiality, and traceability. We highlight the issues concerning the current electronic cheque system and provide a solution to overcome those drawbacks.