Pay as You Go: A Generic Crypto Tolling Architecture

The imminent pervasive adoption of vehicular communication, based on dedicated short-range technology (ETSI ITS G5 or IEEE WAVE), 5G, or both, will foster a richer service ecosystem for vehicular applications. The appearance of new cryptography based solutions envisaging digital identity and currency exchange are set to stem new approaches for existing and future challenges. This paper presents a novel tolling architecture that harnesses the availability of 5G C-V2X connectivity for open road tolling using smartphones, IOTA as the digital currency and Hyperledger Indy for identity validation. An experimental feasibility analysis is used to validate the proposed architecture for secure, private and convenient electronic toll payment

Security Analysis of Mobile Payments: Direct Carrier Billing

Payments are a compensation for a product or a service received. The funds are transferred from one party (consumer) to another (merchant). Mobile payments are a particular form of electronic payment where a mobile device serves as the key instrument to initiate, authorize or complete a payment. The payment methods have been continuously changing to adjust to cashless trends. Seeking to reach a larger number of customers has promoted the development of different solutions to provide means of payment. With an increasing number of mobile subscribers, mobile solutions such as carrier billing, SMS-based payments, and mobile wallets are gaining importance, permeating different markets, such as public transportation, digital content, advertisements and charity. This thesis investigates and analyses mobile payment solutions. The main purpose is, primarily, to identify and describe the security protocols that occur during the payment transaction. Subsequently, to distinguish the mechanisms utilised to identify and authenticate consumers and the mechanisms providing integrity to the payment data. Additionally, to recognize the possible security threats overlooked during the design and deployment of payment solutions. The analysis and tests carried out showed opportunity areas for the service providers to improve the security level of their services. We found vulnerabilities that jeopardise the integrity and authenticity of transactions from the merchant and consumer sides. The major vulnerabilities found lead to conclude that despite the development of protocols and technologies to strengthen security, an appropriate analysis is required to design and develop secure solutions. Neglecting security requirements in exchange for simplicity could come at a high price for the parties involved in mobile payments, specially, in direct carrier billing

IOT DEVICES AS PAYMENT INSTRUMENT FOR ATM TRANSACTIONS

The present disclosure relates to a method and a system for performing Automated Teller Machine (ATM) transactions using a user payment instrument without a physical bank-issued card. According to the present disclosure, a user requests an ATM to perform a user transaction request such as withdrawal of funds from the user account or depositing funds to the user account. Based on the user transaction request, the ATM generates a Quick Response (QR) code with payment information. Thereafter, a user payment instrument may be used to scan the generated QR code, which opens an authentication application, after the user payment instrument is authenticated. Further, the user account details are loaded onto the user payment instrument to perform the financial transaction on the ATM without the physical bank-issued cards