Acknowledgment: An acknowledgment is sent with the e-check to the sender to inform him about the status of the e-check.
Certification Authority: A bank or other organization issuing end-user certificates. Independently, third parties are available as other approval authorities that are authorized to issue certificates. In the US Treasury market, US Treasury customers have worked with the issuance of documents showing the account status and issuing certificates as the issuer of the certificates issued by the primary approval authority authorized by the banks acting as the approval authority.
Advice of payment (AOP): Payment notice is a form of money order information. The payment notice is attached to each e-check depending on the request.
Private Key: A secret mathematical key is used to generate digital signatures or to decrypt passwords of messages of a message. For each private key, only one public key is associated. With e-check, private keys, private signing key and private decryption key are used for signing and decryption. The private signature key is used to digitally sign and redeem e-checks, and is stored in the electronic check book. For each private signature key, there is a certificate that is used to describe the association of the private key with the public key of any party that needs to verify the validity of the signature generated. The private decryption key is used by the creditor software to decrypt the passwords of e-checks mailed by the debtor. The email enrollment process is used to ensure that the debtor is associated with the public key of the creditor of the e-check server, so that the e-checks are encrypted before being sent to the creditor.
Digital Signature: The process of cryptography, which provides signatory approval guarantees, creates data integrity of documents, and provides proof against denial of transactions. A digital signature is not a numerically signed signature. Digital signatures use public key cryptography and work with certificates. The digital signatures together with the certificate can officially confirm the signed documents and ensure that the received message is not altered. In the US Treasury market, e-checks were signed by the e-check server of the American Jail and the buyer automatically turned the check by using the eymbals when the software selected to deposit the e-check.
Certificate: An electronic affidavit issued by a reputable institution, such as a bank, confirming the identity and reputation of any commercial transaction on the Internet. E-check certificates are issued through e-check service providers in the banks of buyers and debtors. In the US Treasury market, the creditor certificate is placed in the chip section of the e-check smart card.
Decrypt – Decryption: Decrypt – decrypt a message to make it readable. In the US Treasury market, the credit of e-checks sent by the American Treasury is automatically resolved by the creditor’s software.
EncryptEncryption: The stage of messaging messages to ensure confidentiality. In the US Treasury market, the American Treasury’s server server encrypts e-checks before sending them to the email server, and the creditor software automatically encrypts e-check payments before sending them to the creditor’s bank.
Ach and Echeck
Clearing is the control period in which interbank funds are transferred and checked for validity. The e-check is the same as the paper check. 1. The Technology Required for E-Check The goal is to ensure that the intended members of the e-check system work with minimum initial costs, implement universal industry standards, and always provide service to the participant everywhere. E-checks are a very secure payment tool, or an enhanced or designed payment transaction, respectively. The most sophisticated techniques used when designing e-checks are; • Official Approval • Open Keyed Cryptography • Digital Signature • Approval Authorities • Repeated Identification and • Encryption. The e-check, from a logical point of view, does not offer anything more than an electronic payment authorization. In order to achieve this, the FSTC has combined the two main elements of technology: formal language and digital signatures. While these features of technology are widely acknowledged, the e-check project has been a first in the financial services industry to combine efforts to create secure payment systems that are sufficiently secure over the internet Formatting Financial Services FSML FSML is an SGML based block structured data definition language, such as HTML. FSML uses tags that structure messages in blocks and data elements. Specified data elements have a decisive feature in the need to create an electronic payment message. Unlike HTML, which focuses on how the document is rendered, FSML focuses on document-specific markers that allow software applications to manipulate documents. This syntax requires detailed descriptions of semantics and combining values with data elements. FSML is designed to support all payment order types using a single approach. These include e-checks, ACH payment entitlements, ATM network transaction authorization, and check variations such as gift vouchers or mail order. They can also be added to the specification as market needs. FSML is expected to be compatible with widely accepted XML as a subset of SGML. Digital Signatures The second technology element in the key role in creating e-check technology is digital signatures for public key cryptography. Numerical signatures are mathematical calculations that provide the validity of a signed private document and the identity of the signature creator. Digital signatures provide the ability to determine the authority of a document signer, to identify and to be resistant to tampering. Digital signatures are often used with encrypted certificates. The certificate is similar to a signature card but is entirely electronic. The certificate contains, without a simple comparison between the signature and the certificate, the signer’s public key, which is used to validate the signature and the encryption associated with the signature. The e-check uses these certificates while checking the validity of the signatures. Initially, these certificates were actually delivered with e-checks, but alternative modes were proposed for cases where the sending of certificates or the possibility of being exported is not necessary. The e-check technology of the FSTC is spreading and spreading easily using digital signature technology, which requires approval to sign states that are applied to formatted language based documents, including signing, pair signing, mutual signing, or approved signing. Another feature of FSTC’s e-check technology is that it allows the digital signature to sign only part of the document, not just the entire document. This feature is used to isolate parts of the document from the original without distorting the integrity of the digital signature.