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The Internet Open Trading Protocol (IOTP) is a system-independent
protocol Protocol may refer to: Sociology and politics * Protocol (politics) Protocol originally (in Late Middle English, c. 15th century) meant the minutes or logbook taken at a meeting, upon which an agreement was based. The term now commonly refers to ...
that provides an interoperable and standardized payment framework for
electronic commerce E-commerce (electronic commerce) refers to Commerce, commercial activities including the electronic buying or selling Goods and services, products and services which are conducted on online platforms or over the Internet. E-commerce draws on tec ...
, which tries to replicate real-world
trading Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market (economics), market. Traders generally negotiate throu ...
processes as closely as possible. IOTP systems can include a variety of different payment systems including digital cash, electronic checks, and
debit card A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either ...
s. Various payment transaction data are encapsulated within specific IOTP messages (customer, merchant, credit checker, certifier, bank and delivery handler).


References


External links

* - Internet Open Trading Protocol (IOTP) (April 2000) * - Internet Open Trading Protocol (IOTP) Errata (March 2003) * - Digital Signatures for the v1.0 IOTP (April 2000) * - Internet Open Trading Protocol (IOTP) HTTP Supplement (September 2000) * - Secure Electronic Transaction (SET) Supplement for the v1.0 IOTP (2003) * - Payment Application Programmers Interface (API) for the v1.0 IOTP (November 2004) Internet protocols Application layer protocols Industry-specific XML-based standards {{Internet-stub