Driving Economy with e-Cheque Vins Fong Certizen Limited, Hong Kong - - PowerPoint PPT Presentation

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Driving Economy with e-Cheque Vins Fong Certizen Limited, Hong Kong - - PowerPoint PPT Presentation

Oct 22, 2023 388 likes •661 views

Driving Economy with e-Cheque Vins Fong Certizen Limited, Hong Kong 17 December 2014 1 12/17/2014 Cheque + PKI 2 12/17/2014 e-Cheque Project in Hong Kong Industry-wide project is underway e-Cheque Presentment e-Cheque Issuance Launch

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SLIDE 1

Driving Economy with e-Cheque

Vins Fong

Certizen Limited, Hong Kong 17 December 2014

12/17/2014

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SLIDE 2

12/17/2014

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Cheque + PKI

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SLIDE 3

e-Cheque Project in Hong Kong

12/17/2014

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Industry-wide project is underway 14 Dec 2015 Voluntary Mandatory

Launch Date

e-Cheque Issuance e-Cheque Presentment

  • As an alternative payment method
  • To promote e-commerce
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SLIDE 4

e-Cheque Project in Hong Kong

12/17/2014

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And hopefully save the high handling costs of paper cheques

17 HKD per cheque 250 Working days per year 500,000 cheques per day 17 HKD X 250 Working days X 500,000 cheques 2 Billion HKD/Year

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SLIDE 5

e-Cheque Project in Hong Kong

12/17/2014

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Electronic Transactions Ordinance (ETO)

Give electronic records and electronic signature the same legal status as that of their paper-based counterparts; electronic signature paper-based signature electronic signature

Legal mark signed by the unique digital certificate owned by the signer Legal mark written by the signer’s own hand

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SLIDE 6

e-Cheque Project in Hong Kong

12/17/2014

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e-Cheque is an electronic counterpart of paper cheque

Date Amount Payers’ digital signature(s) Payee’s name Remark Payer bank’s digital signature Payer’s name

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SLIDE 7

e-Cheque Project in Hong Kong

12/17/2014

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Different methods of signature, similar flow

1000 HKD

Paper Cheque e-Cheque

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e-Cheque Project in Hong Kong

12/17/2014

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Digital Certificates for e-Cheque

Special Purpose Certificate General Purpose Certificate

KYC by CA, Cert kept by users, Cert stored on PKCS#11 media KYC by banks, Cert kept by banks, Cert stored in HSM

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SLIDE 9

e-Cheque Project in Hong Kong

12/17/2014

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Operating Model (via Internet Banking Platform)

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SLIDE 10

Concerns of the Operating Model

12/17/2014

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Information Leakage ! Duplicate Presentment ! Bad user experience ! Lack of Flexibility !

Download - email - Upload Sign - Issue Present

Bad user experience !

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SLIDE 11

Closed Loop Model

12/17/2014

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Further evolution to address these concerns

Open Loop Closed Loop

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SLIDE 12

Closed Loop Model

12/17/2014

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Special Purpose Certificate General Purpose Certificate ++ 1 Cert, 1 Bank 1 Cert, N Banks

1 Cert, N Banks++

General Purpose Certificate

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SLIDE 13

12/17/2014

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Login Internet Banking to sign e-Cheque Support: PC, IOS, Android Technology：HSM+OTP

1 Cert , 1 Bank

Special Purpose Certificate

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Bank

Send the e-Cheque via Email Issue e-Cheque Login Internet Banking Sign e-Cheque Certify e-Cheque Payer Payee

1 Cert , 1 Bank HSM

Special Purpose Certificate

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SLIDE 15

12/17/2014

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Evaluation

1 Cert , 1 Bank

OTP

Auto e-Cheque Filling Customer Experience Security

Other Services:

ATM, Door Access, etc.

Special Purpose Certificate

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SLIDE 16

12/17/2014

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1 e-Cert, N Banks

General Purpose Certificate

Personalized Token

  • Bluetooth
  • PBOC 2.0
  • FIPS 140-2
  • PKCS# 11
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SLIDE 17

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e-Cheque Books 1 Cert, N Banks

General Purpose Certificate

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SLIDE 18

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Check out from Shopping Cart Support: PC, IOS, Android

1 Cert, N Banks

Press OK to Sign eCheque Book

Cancel Store Pay

General Purpose Certificate

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SLIDE 19

Bank

Select bank eShopping /payee Make payment Check out Sign e-Cheque

e-Cheque book Apps

Secure Closed Loop*

Trusted Repository

including registered government departments,

  • rganizations, person

1 Cert, N Banks ++

OK

12/17/2014

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* Complied with International Payment Gateway Standard

Certify e-Cheque

General Purpose Certificate

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SLIDE 20

Evaluation

1 Cert, N Banks

12/17/2014

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Auto e-Cheque Filling Customer Experience Security

Other Services:

ATM, Door Access, etc.

General Purpose Certificate

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SLIDE 21

12/17/2014

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Card Computer

  • E-ink Touchscreen
  • Bluetooth
  • NFC
  • ATM Chip (PBOC 3.0)
  • Wireless Charging

Thinner, lighter and equipped with 1 Cert, N Banks++

General Purpose Certificate ++

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SLIDE 22

12/17/2014

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1 Cert, N Banks++

Bank

Select bank eShopping /payee Make payment Check out Sign e-Cheque

e-Cheque book Apps

Trusted Repository

including registered government departments,

  • rganizations, person

* Complied with International Payment Gateway Standard

Door Access ATM

Certify e-Cheque

General Purpose Certificate ++

Secure Closed Loop*

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SLIDE 23

12/17/2014

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Evaluation

1 Cert, N Banks++ Auto e-Cheque Filling Customer Experience Security

Other Services:

ATM, Door Access, etc.

General Purpose Certificate ++

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SLIDE 24

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  • Trusted Repository (Hong Kong, China, ASEAN)
  • Central e-Cheque Archive
  • General Purpose Certificate ++
  • Straight Through Payment
  • Cross-border Payment

Key Features of Closed Loop Model

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SLIDE 25

ASEAN China

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Long Term Objective

Hong Kong

A Secured Closed Loop for Cross-border Payments

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Thank You

Vins Fong

vinsfong@certizen.com

12/17/2014

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