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ECB CONFERENCE on E-payments in Europe 19 November 2002, Frankfurt The implementation of E-signatures in payment systems: open issues and possible solutions Paola Mass Payment System Oversight Office

With the E-signature, digital signature of payments can be authenticated and digitally signed independently of the source and the destination. E-signatures are a very promising method which ensures the reliable execution of payments with low transaction fees. It can also provide financial assurance to banks, clearing houses, payment systems and e-money service providers. At the ECB, we see a major growth of this technology, as well as an ever-increasing demand for payment solutions, and therefore of E-signatures. The E-signature (ECB Working Paper No. 1147) has been published and addresses the issues of how, in practice, these signatures will be accepted in payment networks. To avoid technical difficulties in the transition to the new systems, it is proposed to define in a technical standard that enables for the common use of the common technology for signature verification and for acceptance in payment systems. With respect to the main characteristics of e-signatures, the main technical problem is, how to apply these on a common basis. The main problem is, that the signatures are not sufficiently different in the different e-payment systems? To have a good compatibility of the signatures is essential, while a common technical standard is also required. The solution of the compatibility problem is only possible if the standard is known and agreed, and it can be widely used. A solution cannot be found in a single protocol, even if all payment systems in the world rely on it at the same time. The current draft standard proposed by the ECB is a solution to this compatibility problem. The e-signature standard will be issued under a joint technical development initiative of the European Commission in cooperation with the National Payments Forum. ECB Executive Board Chairman Wolfgang Schaeuble. Vice President/Chief Implementation Officer Carlo Capping In the following document, the basic principles of the E-signature are laid down: E-signature is a unique digital mechanism, capable of supporting the operation of financial and private entities with low fees. It is the unique technology that ensures the verification and the acceptance of payments between payments systems, especially those of the future. The standard can be used in different kinds of payment systems: digital signatures in public and private banking networks; digital signatures in P2P networks; electronic signatures of electronic money and credit cards. The system is designed for the implementation of a new technology which is not yet implemented in the system. The main goal of this E-signature is to enable the interoperability of payment systems in E-payment contexts.

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What is form implementation of e-signatures?

Form implementation of e-signatures is a document that outlines the process of integrating electronic signatures into a system or organization.

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Any organization or entity that wishes to incorporate e-signatures into their processes is required to file the form implementation of e-signatures.

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To fill out the form implementation of e-signatures, you need to provide detailed information about your organization, the specific processes where e-signatures will be used, and the technological infrastructure that will support them.

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The purpose of the form implementation of e-signatures is to ensure that organizations have a clear plan for implementing and using e-signatures in a secure and effective manner.

What information must be reported on form implementation of e-signatures?

The form implementation of e-signatures typically requires information such as the organization's name, contact details, details of the planned e-signature processes, and information about the technology and security measures that will be used.

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The deadline to file the form implementation of e-signatures in 2023 will be determined by the regulatory authorities or governing bodies responsible for overseeing e-signature implementation.

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