Mobile transactions over NFC and GSM

Dynamic relationships between Near Field Communication (NFC) ecosystem players in a monetary transaction make them partners in a way that they sometimes require to share access permission to applications that are running in the service environment. One of the technologies that can be used to ensure secure NFC transactions is cloud computing. This offers a wider range of advantages than the use of only a Secure Element (SE) in an NFC enabled mobile phone. In this paper, we propose a protocol for NFC mobile payments over NFC using Global System for Mobile Communications (GSM) authentication. In our protocol, the SE in the mobile device is used for customer authentication whereas the customer's banking credentials are stored in a cloud under the control of the Mobile Network Operator (MNO). The proposed protocol eliminates the requirement for a shared secret between the Point of Sale (PoS) and the MNO before execution of the protocol, a mandatory requirement in the earlier version of this protocol. This elimination makes the protocol more practicable and user friendly. A detailed analysis of the protocol discusses multiple attack scenarios

Can smart cards reduce payments fraud and identity theft?

In the United States, when a consumer presents a payment to a merchant, the merchant typically makes a request for authorization before accepting the payment. Personal information, such as an account number, address, or telephone number, are often enough to initiate a payment. A serious weakness of this system is that criminals who obtain the correct personal information can impersonate an honest consumer and commit payments fraud. ; A key to improving security-and reducing payments fraud-might be payment smart cards. Payment smart cards have an embedded computer chip that encrypts messages to aid authorization. If properly configured, payment smart cards could provide direct benefits to consumers, merchants, banks, and others. These groups would be less vulnerable to the effects of fraud and the cost of fraud prevention would fall. Smart cards could also provide indirect benefits to society by allowing a more efficient payment system. Smart cards have already been adopted in other countries, allowing a more secure payments process and a more efficient payments system. ; Sullivan explores why smart cards have the potential to provide strong payment authorization and thus put a substantial dent into the problems of payments fraud and identity theft. But adopting smart cards in the United States faces some significant challenges. First, the industry must adopt payment smart cards and their new security standards. Second, card issuers and others in the payments industry must agree on the specific forms of security protocols used in smart cards. In both steps the industry must overcome market incentives that can impede the adoption of payment smart cards or limit the strength of their security.

Technology payment cards communication with banking institutions in the field of cashless payment

The aim is now used to describe the infrastructure of payment cards, ATMs, now used to describe the infrastructure of payment systems, mainly the payment cards and NFC technology and secure payment throw the internet. In this article, we examine a new technology application which is coming into its own around the world, in association with the revolution in wireless connectivity. Our findings are intended to guide in dealing with the economic aspects of mobile payments, and to help identify some important directions for the research

U.S. households' access to and use of electronic banking. 1989-2007

Nationwide surveys show that consumers are increasingly embracing technology to make payments and manage their personal finances. However, only about one in two consumers could be considered a heavy user of electronic banking. This article examines changes over time in consumers’ access to, adoption of, and attitudes toward various e-banking products and services and looks at several emerging technologies.Consumers' preferences ; Electronic funds transfers

Characteristics of Mobile Payment Procedures

Companies are not going to invest into the development of innovative applications or services unless these can be charged for appropriately. Thus, the existence of standardized and widely accepted mobile payment procedures is crucial for successful business-to-customer mobile commerce. The acceptance of mobile payment procedures depends on costs, security and convenience issues. For the latter, it is important that a procedure can be used over the different payment scenarios mobile commerce, electronic commerce, stationary merchant and customer-to-customer. Current payment procedures can be categorized with strategic, participation and operational criteria, using the morphological method. The proposed scheme allows to unambiguously identify and characterize any given mobile payment procedure. The design of today's mobile payment procedures should less try to optimize on the future mobile commerce problems but focus on the ease of spreading in the electronic commerce setting as lead-in scenario.