Internet Open Trading Protocol

{{Short description|The Internet Open Trading Protocol (IOTP) is a system-independent protocol for electronic commerce}}

The Internet Open Trading Protocol (IOTP) is a system-independent protocol that provides an interoperable and standardized payment framework for electronic commerce, which tries to replicate real-world trading processes as closely as possible.{{cite book|last1=Katalin|first1=Tarnay|title="IOTP and Payments Protocols", in Research and Development in E-Business through Service-Oriented Solutions|date=2013|publisher=IGI Global|isbn=9781466641822|pages=Chapter 2|url=https://books.google.com/books?id=-tieBQAAQBAJ&q=%22IOTP+and+Payments%22&pg=PA53|accessdate=29 June 2016|language=en}}{{cite book|last1=Bauknecht|first1=Kurt|last2=Gottlieb|first2=Jens|last3=Kittler|first3=Josef|last4=Raidl|first4=Günther R.|last5=Nixon|first5=Mark S.|last6=Tjoa|first6=A. Min|last7=Quirchmayr|first7=Gerald|title=E-Commerce and Web Technologies|publisher=Springer Science & Business Media|isbn=9783540408086|pages=292–303|url=https://books.google.com/books?id=H3b_6vjxYecC&q=%22Internet+Open+Trading+Protocol%22&pg=PA302|accessdate=29 June 2016|language=en|date=2003-08-21}}{{cite book|last1=Handfield|first1=Robert B.|last2=Nichols|first2=Ernest L.|title=Supply Chain Redesign: Transforming Supply Chains Into Integrated Value Systems|publisher=FT Press|isbn=9780130603128|page=277|url=https://books.google.com/books?id=XG-u73Fu8QYC&q=%22Internet+Open+Trading+Protocol%22&pg=PA277|accessdate=29 June 2016|language=en|year=2002}}{{cite journal|last1=Kwok|first1=S.H|last2=Cheung|first2=S.C|last3=Wong|first3=K.C|last4=Tsang|first4=K.F|last5=Lui|first5=S.M|last6=Tam|first6=K.Y|title=Integration of digital rights management into the Internet Open Trading Protocol|journal=Decision Support Systems|date=March 2003|volume=34|issue=4|pages=413–425|doi=10.1016/S0167-9236(02)00067-2}}{{cite book|last1=Ouyang|first1=Chun|last2=Kristensen|first2=Lars Michael|last3=Billington|first3=Jonathan|title=E-Commerce and Web Technologies|date=August 2002|publisher=Springer Berlin Heidelberg|isbn=9783540441373|pages=[https://archive.org/details/ecommercewebtech0000inte/page/377 377–387]|language=en|chapter=A Formal and Executable Specification of the Internet Open Trading Protocol|doi=10.1007/3-540-45705-4_39|chapter-url=https://archive.org/details/ecommercewebtech0000inte/page/377}}{{cite book|last1=Zhao|first1=Yuxiao|last2=Sandahl|first2=Kristian|title=Enterprise Information Systems II|publisher=Springer Netherlands|isbn=9789048157679|pages=197–202|language=en|chapter=XML-Based Frameworks for Internet Commerce|doi=10.1007/978-94-017-1427-3_28|year=2001|citeseerx=10.1.1.4.2623}}

IOTP systems can include a variety of different payment systems including digital cash, electronic checks, and debit cards. Various payment transaction data are encapsulated within specific IOTP messages (customer, merchant, credit checker, certifier, bank and delivery handler).{{Cite web|url=https://searchmicroservices.techtarget.com/definition/Internet-Open-Trading-Protocol-IOTP|title=What is Internet Open Trading Protocol (IOTP)? - Definition from WhatIs.com|website=SearchMicroservices|language=en|access-date=2019-05-07}}