A fairCASH deal has the following definition:

• Two prospective signatory entities mutually known sign a certain contract:
• Seller 'explains exchange' between 'goods or services' and 'payment' to buyer by invoice,
• Buyer 'explains exchange' by the payment transfer,
• Seller 'explains' the successful payment transfer to buyer by receipt,
• fCCP makes the transfer non-repudiational for both parties.

Pairing phase
This is the pairing partnership association phase. Both entities enter into a P2P-based transaction relationship by mutually identify themselves:

• The initiator uses the application software to enter information about his action and creates the request.
• The initiator determines the method (there are different technical methods to do that, e.g. by using an NFC/RFID, a DNS/IP entry or a MSN) for contacting the other peer using a proximity or remote connection.
• The initiating eWallet contacts the target eWallet.
• Both eWallets exchange their certificates.

VPN/VPC setup phase
This is the setup phase for the VPN/VPC-session-initiation. A virtual private network or channel is being established:

• Both eWallets exchange key information.
• Both eWallets negotiate a VPN/VPC.

Negotiation phase
Both eWallets negotiate the intended deal. Part of this policy based checking process is the verification of enough value availability and other rules:

• Both eWallets exchange their user certificates.
• Both eWallets specify and acknowledge the deal.
• Both eWallets compare the other’s eWallet identity with the intended one.
• Both eWallets authorize or decline the deal.

Value data transfer
The payment is exchanged against an electronic receipt:

• The eCoins of the main payment are transferred.
• The eCoins of the change payment are transferred.

Confirmation phase
Both parties receive their irrefutable evidences to make the deal complete, repudiation-free and final (with the weak deal exception):

• The acknowledge tickets are sent.
• Both eWallets inform their respective users about the money transfer status.
• Both eWallets terminate the connection.

Execution transaction times for selected networks

A source of arrested attention for every payment system is the average transaction duration. Exemplary transaction time calculations for several network usage cases are listed in following table: