Universally Composable Fair Electronic Payment Protocol

Fairness is an essential property in e-payment protocol. An ideal functionality of fair e-payment is defined in the universal composability model. In the hybrid model which aided by ideal convertible signature functionality, ideal registration functionality and ideal secure session functionality, a fair electronic payment protocol is constructed to realize this ideal functionality. The new protocol has simpler structure, lower communication overhead and holds secure even when running in an arbitrary and unknown multi-party environment.