internet open trading protocol

Computing Dictionary

Internet Open Trading Protocol definition

protocol, business
(IOTP, Formerly "Open Trading Protocol", OTP) A specification that provides an interoperable framework for Internet commerce. It is optimised for the case where the buyer and the merchant do not have a prior acquaintance and is payment system independent. It will be able to encapsulate and support payment systems such as SET, Mondex, CyberCash's CyberCoin, DigiCash's e-cash, GeldKarte, etc. IOTP is able to handle cases where such merchant roles as the shopping site, the payment handler, the deliverer of goods or services, and the provider of customer support are performed by different Internet sites.
The IOTP specification is maintained by the IETF Internet Open Trading Protocol (trade) Working Group (http://ietf.org/html.charters/trade-charter.html).
(http://otp.org/).
(2001-09-22)
The Free On-line Dictionary of Computing, © Denis Howe 2010 http://foldoc.org
Cite This Source
Explore Dictionary.com
Previous Definition: internet number
Next Definition: internet protocol
More from Thesaurus.com
Synonyms and Antonyms for internet open trading protocol
More from Reference.com
Search for articles containing internet open trading protocol
Dictionary.com Word FAQs

Dictionary.com presents 366 FAQs, incorporating some of the frequently asked questions from the past with newer queries.

Copyright © 2014 Dictionary.com, LLC. All rights reserved.
  • Please Login or Sign Up to use the Recent Searches feature