Enhanced Payment Gateway for E-commerce Website Using signcryption protocol

In our daily lives, we use many E-commerce websites that perform monetary transactions over the internet. In case of a transaction failure due to various reasons such as poorly maintained database, slow server or internet connection, the customer's money may get deducted from his account without actually the order being placed. Also, it may so happen that after placing an order, the customer would want to cancel the order. Money once debited has to go through bank procedure to be deposited back to the customer's account which generally requires 3 to 4 days, causing poor user experience. To avoid this, we propose a solution wherein in case of occurrence of such transaction failure, the amount of money mistakenly debited or the amount customer is liable to receive after cancellation of an order would be credited to the customer in form of Electronic cash (e-cash) immediately. This would remove any inconvenience the customer faces and betters user's online experience. Also, since money is being credited to the customer in form of E-currency, it compels the user to reuse it in the same company's website thus causing higher customer retention. Here, by using signcryption technique we avoid double spending in e-cash transactions. A single protocol is used to update all databases which helps to maintain consistencies.