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

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 Date 14 Dec 2015 Mandatory Voluntary - As an alternative payment method - To promote e-commerce 3 12/17/2014

e-Cheque Project in Hong Kong And hopefully save the high handling costs of paper cheques 17 HKD per cheque 17 HKD X 250 Working days 250 Working days X per year 500,000 cheques 2 Billion HKD/Year 500,000 cheques per day 4 12/17/2014

e-Cheque Project in Hong Kong Electronic Transactions Ordinance (ETO) electronic signature Give electronic records and electronic signature the same legal status as that of their paper-based counterparts; electronic signature paper-based signature Legal mark signed by Legal mark written by the unique digital the signer’s own hand certificate owned by the signer 5 12/17/2014

e-Cheque Project in Hong Kong e-Cheque is an electronic counterpart of paper cheque Date Payee’s name Amount Payers’ digital Payer’s name signature(s) Payer bank’s digital signature Remark 6 12/17/2014

e-Cheque Project in Hong Kong Different methods of signature, similar flow e-Cheque Paper Cheque 1000 HKD 7 12/17/2014

e-Cheque Project in Hong Kong Digital Certificates for e-Cheque KYC by CA, Cert kept by users, Cert stored on General Purpose PKCS#11 media Certificate KYC by banks, Cert kept by banks, Special Purpose Cert stored in Certificate HSM 8 12/17/2014

e-Cheque Project in Hong Kong Operating Model (via Internet Banking Platform) 9 12/17/2014

Concerns of the Operating Model Duplicate Bad user Bad user Information Presentment experience experience Leakage ! ! ! ! Sign - Issue Download - email - Upload Present Lack of Flexibility ! 10 12/17/2014

Closed Loop Model Further evolution to address these concerns Closed Loop Open Loop 11 12/17/2014

Closed Loop Model General Purpose General Purpose Certificate ++ Certificate Special Purpose Certificate 1 Cert, N Banks ++ 1 Cert, N Banks 1 Cert, 1 Bank 12 12/17/2014

Special Purpose Certificate Login Internet Banking to sign e-Cheque Support: PC, IOS, Android Technology ： HSM+OTP 1 Cert , 1 Bank 12/17/2014 13

Special Purpose Certificate Issue e-Cheque Login Internet Banking Payer 1 Cert , 1 Bank HSM Sign e-Cheque Send the e-Cheque via Email Bank Certify e-Cheque Payee 14 12/17/2014

Special Purpose Certificate Evaluation Security 1 Cert , 1 Bank Customer Auto e-Cheque Experience Filling OTP Other Services: ATM, Door Access, etc. 12/17/2014 15

General Purpose Certificate 1 e-Cert, N Banks Personalized Token • Bluetooth • PBOC 2.0 • FIPS 140-2 • PKCS# 11 16 12/17/2014

General Purpose Certificate 1 Cert, N Banks e-Cheque Books 17 12/17/2014

General Purpose Certificate 1 Cert, N Banks Check out from Shopping Cart Support: PC, IOS, Android eCheque Book Press OK to Sign Cancel Store Pay 18 12/17/2014

General Purpose Certificate Check out e-Cheque book Apps eShopping 1 Cert, N Banks ++ /payee Select bank Secure Closed Loop* Sign e-Cheque Make payment OK Trusted Repository including registered government Certify Bank departments, e-Cheque organizations, person * Complied with International Payment Gateway Standard 19 12/17/2014

General Purpose Certificate Evaluation Security 1 Cert, N Banks Customer Auto e-Cheque Experience Filling Other Services: ATM, Door Access, etc. 20 12/17/2014

General Purpose Certificate ++ Thinner, lighter and equipped with Card Computer • E-ink Touchscreen • Bluetooth • NFC 1 Cert, N Banks ++ • ATM Chip (PBOC 3.0) • Wireless Charging 21 12/17/2014

General Purpose Certificate ++ Check out e-Cheque book Apps 1 Cert, N Banks ++ eShopping /payee Select bank Secure Closed Loop* Sign e-Cheque Make payment Trusted Repository including registered Certify government Bank e-Cheque departments, Door Access organizations, person ATM 12/17/2014 * Complied with International Payment Gateway Standard 22

General Purpose Certificate ++ Security Customer Auto e-Cheque Experience 1 Cert, N Banks ++ Filling Other Services: Evaluation ATM, Door Access, etc. 23 12/17/2014

Key Features of Closed Loop Model • Trusted Repository (Hong Kong, China, ASEAN) • Central e-Cheque Archive • General Purpose Certificate ++ • Straight Through Payment • Cross-border Payment 24 12/17/2014

Long Term Objective A Secured Closed Loop for Cross-border Payments China Hong ASEAN Kong 25 12/17/2014

Thank You Vins Fong vinsfong@certizen.com 26 12/17/2014