Glossary

A

ACCEPTABILITY	the system must be widely accepted by merchants for it to be of use to customers.
ANONYMITY	the customers, merchants and transactions themselves must be anonymous.
ATOMICITY	the transaction must occur completely or not at all.

C

CHECKING	all parties must be convinced that the electronic money is real.
CONSISTENCY	all parties must agree on the terms of the exchange.
CONSERVATION	this is composed of temporal consistency, where money holds its value over time; and temporal durability, where money is easy to store and retrieve.
CUSTOMER BASE	there must be a sufficient number of users to warrant a merchant the use of the mechanism.

D

DIVISIBILITY	it must be possible to interchange multiple law denominations and single high denominations.
DURABILITY	it must always be posible to recover the last consistent state.

E

EASE OF INTEGRATION	there should be a common API independent of any particular payment instrument.
EASE OF USE	users should be comfortable with the system.
ECONOMY	conducting a transaction should not be expensive.

F

FLEXIBILITY

the different types of instruments should be integrated into a single framework.

I

INTEROPERABILITY	it must be possible to move assets back and forth between different systems.
ISOLATION	transactions must be independent of each other.

S

SCALEABILITY	the system must support many users simultaneously.
SECURITY	a basic issue for on-line transactions.

Electronic payment Reference Center
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