This paper proposes a fair trading protocol. The fair trading protocol provides an overall solution for a trading process with offline anonymous credit card payments. With the exploding growth of electronic commerce on the Internet, the issue of fairness is becoming increasingly more important. Fair exchange protocols have already been broadly used for applications such as electronic transactions, electronic mails, and contract signing. Fairness is one of the critical issues in online transactions and related electronic payment systems. Many electronic payment systems have been proposed for providing different levels of security to financial transactions, such as iKP, SET, NetBill, and NetCheque. In a normal electronic commerce transaction, there is always a payer and a payee to exchange money for goods or services. At least one financial institution, normally a bank, should be present in the payment system.
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