An Improved Authentication Scheme for Electronic Payment Systems in Global Mobility Networks

2015 ◽  
Vol 44 (4) ◽  
pp. 387-403 ◽  
Author(s):  
Mohammad Heydari ◽  
S. Mohammad-Sajad Sadough ◽  
Shehzad Ashraf Chaudhry ◽  
Mohammad Sabzinejad Farash ◽  
Mohammad Reza Aref
Keyword(s):  
Payment System ◽  
Encryption Scheme ◽  
Authenticated Encryption ◽  
Payment Systems ◽  
Electronic Trade ◽  
Security Issues ◽  
Payment Schemes ◽  
And Performance ◽  
Automated Tool ◽  
Very High

The use of e-payment system for electronic trade is on its way to make daily life more easy and convenient‎. ‎Contrarily‎, ‎there are a number of security issues to be addressed‎, ‎user anonymity and fair exchange have become important concerns along with authentication‎, ‎confidentiality‎, ‎integrity and non-repudiation‎. ‎In a number of existing e-payment schemes‎, ‎the customer pays for the product before acquiring it‎. ‎Furthermore‎, ‎many such schemes require very high computation and communication costs‎. ‎To address such issues recently Yang et.al‎. ‎proposed an authenticated encryption scheme and an e-payment scheme based on their authenticated encryption‎. ‎They excluded the need of digital signatures for authentication‎, ‎further they claimed their schemes to resist replay‎, ‎man-in-middle‎, ‎impersonation and identity theft attack‎, ‎while providing confidentiality‎, ‎authenticity‎, ‎integrity and privacy protection‎. ‎However our analysis exposed that Yang et al.'s both authenticated encryption scheme and e-payment system are vulnerable to impersonation attack‎. ‎An adversary just having knowledge of public parameters can easily masquerade as a legal user‎. ‎Furthermore‎, ‎we proposed improved authenticated encryption and e-payment schemes to overcome weaknesses of Yang et al.'s schemes‎. ‎We prove the security of our schemes using automated tool ProVerif‎. ‎The improved schemes are more robust and more lightweight than Yang et al.'s schemes which is evident from security and performance analysis‎.DOI: http://dx.doi.org/10.5755/j01.itc.44.4.9197

scholarly journals IDA-Pay: a secure and efficient micro-payment system based on Peer-to-Peer NFC technology for Android mobile devices

2012 ◽  
Vol 8 (4) ◽  
pp. 117 ◽  
Author(s):  
Luca Mainetti ◽  
Luigi Patrono ◽  
Roberto Vergallo
Keyword(s):  
Mobile Devices ◽  
Near Field ◽  
Operating Mode ◽  
Peer To Peer ◽  
Payment System ◽  
Third Party ◽  
Payment Systems ◽  
Shopping Experience ◽  
And Performance ◽  
System Effectiveness

The evolution of modern mobile devices towards novel Radio Frequency (RF) capabilities, such as Near Field Communication, leads to a potential for delivering innovative mobile services, which is still partially unexplored. Mobile proximity payment systems are going to enhance the daily shopping experience, but the access to payment security resources of a mobile device (e.g. the “Secure Element”) by third party applications is still blocked by smartphone and Operating System manufacturers. In this paper, the IDA-Pay system is presented, an innovative and secure NFC micro-payment system based on Peer-to-Peer NFC operating mode for Android mobile phones. It allows to deliver mobile-to-POS micro-payment services, bypassing the need for special hardware. A validation scenario and a system evaluation are also reported to demonstrate the system effectiveness and performance.

scholarly journals Addressing the Trust Factor in Mobile Payments through Enhanced Security Controls

2019 ◽  
Vol 8 (3) ◽  
pp. 6769-6773
Keyword(s):  
Mobile Technology ◽  
Mobile Networks ◽  
Payment System ◽  
Mobile Payment ◽  
Payment Systems ◽  
Security Issues ◽  
Mobile Payments ◽  
Security Controls ◽  
Fast Development ◽  
High Uncertainty

Trust plays a key role in the acceptance of a new payment system and is at the heart of any method of payment. Companies have been using mobile payments for over a decade. Because of the high uncertainty and security issues accompanying mobile payment, developing trust of users is critical to enable their adoption and use. Customers will use mobile payments as long as they have trust in this relatively new mode of payment together with dependence on its services and applications. In this context, recent studies indicate that trust in mobile payment systems (MPS) is not uniform among users despite the fast development of mobile technology and the new modes of payment. The aim of this paper is to provide a number of suggestions to assist developing greater trust in the mobile networks and provide customers with a secure and befitting experience that will influence mobile payment adoption in turn

scholarly journals Wi-Fi Security Card (WCS): A Novel Approach for Secure Payment System

2021 ◽  
Vol 3 (2) ◽  
pp. 158-161
Author(s):  
Sumit Kumar
Keyword(s):  
Financial Services ◽  
Payment System ◽  
The Internet ◽  
Payment Method ◽  
Payment Systems ◽  
Security Issues ◽  
Novel Approach ◽  
Vital Element

The latest technology is turning into a vital element in financial business. This paper presents a proposed system called Wi-Fi Security Card (WCS) based on the very common and growing problem of electronic transaction fraud in the countries of India. To solve such problems, we have proposed a novel secure payment method known as Wi-Fi Security Card (WCS). In this paper, we also compared the WCS system to another existing system called Dropped Card Detection (DCD) and Microcontroller and Sensors (MAS). The main advancement of our system over the existing system is that WCS can also prevent fraudulent transactions. Nowadays, security issues in e-payments are usually more demanding than current security issues on the internet. Our findings may enable e-transaction providers to extend their secure payment systems by increasing their protection as necessary for appropriate financial services.

scholarly journals A Survey on Contactless Smart Cards and Payment System

2020 ◽  
Vol 28 (4) ◽  
pp. 135-159
Author(s):  
Brij B. Gupta ◽  
Shaifali Narayan
Keyword(s):  
Payment System ◽  
Smart Cards ◽  
Future Research ◽  
Payment Systems ◽  
Research Issues ◽  
Security Issues ◽  
Payment Methods ◽  
User Data ◽  
Proper Analysis

In recent years, contactless transactions have risen rapidly. It includes NFC, MST, contactless cards, and many other payment methods. These payment methods have certain security issues, and attackers are in a regular search for the exploits to break its security. These security issues require proper analysis to secure user data from attackers. This article will discuss the contactless smart cards and payment systems in detail including the techniques used for securing user data and different possible attacks on the technology used for communication. The article also presents some countermeasures to prevent the attack and issues with those countermeasures. In addition, the article includes some future research issues and suggestions to overcome the security issues in contactless payment system.

scholarly journals Factors Influencing the Adoption of E-Payment: An Empirical Study in Malaysia

2020 ◽  
Vol 4 (2) ◽  
pp. 53 ◽  
Author(s):  
Intan Syafinaz Mat Shafie ◽  
Yuslina Liza Mohd Yusof ◽  
Ainun Nadzirah Mahmood ◽  
Nor Irvoni Mohd Ishar ◽  
Hartini Zuhaila Jamal ◽  
...  
Keyword(s):  
Social Influence ◽  
Excellent Result ◽  
Payment System ◽  
Electronic Payment ◽  
Payment Systems ◽  
Effort Expectancy ◽  
Perceived Security ◽  
And Performance ◽  
The One ◽  
Electronic Payment System

This study examines the antecedents of the factors that influence customers to adopt the electronic payment system while making payments. Payment is the one of the element to complete the transaction while making payment. Due to the development of E-commerce, e-payment systems have been introducing. So, the use of electronic payment systems is being increasing day by day for people to complete their task quickly ineffective way. The result of the study shows that there is a relationship between dependent variables (effort expectancy and social influence) and independent variable (Adopton of e-payment). However, other variables (culture, perceived security and performance expectancy) were not significant with adoption of e-payment. Therefore, the study approves effort expectancy and social influence has a significant relationship with adoption of e-payment. Therefore, companies today that do business using electronic payment system as the medium to complete the transaction must focus more on this two variable to increase the number of people use this payment system. The increasing the number of people use this payment system will contribute to excellent result for e-commerce because e-payment system is one of the factor e-commerce becomes successful and it will give good impact to our nation’s economy.

Electronic Money and Payment Systems

2011 ◽  
pp. 214-250
Author(s):  
Santosh K. Misra ◽  
Jayavel Sounderpandian
Keyword(s):  
Payment System ◽  
Payment Systems ◽  
Electronic Money ◽  
Government Regulations ◽  
And Performance

This chapter describes the demands on any acceptable type of money or payment system and examines how well the existing electronic money and payment systems satisfy those demands. Certain weaknesses in security and performance still remain in these systems and they need to be overcome before the systems can be completely accepted. It is also not clear what kind or government regulations may be brought to bear on these systems. Even with these weaknesses and uncertainties, a variety of systems are thriving, and their details are given in this chapter.

PROSPECTS FOR THE DEVELOPMENT OF THE LEGAL MECHANISM FOR THE FUNCTIONING OF PAYMENT SYSTEMS

2020 ◽  
Vol 13 (3) ◽  
pp. 079-084
Author(s):  
ELIZAVETA SALINA ◽  
Keyword(s):  
Legal Framework ◽  
Legal Regulation ◽  
Payment System ◽  
State University ◽  
Payment Systems ◽  
Proper Functioning ◽  
Money Transfer ◽  
Level Of Significance ◽  
Transfer Services ◽  
Legal Mechanism

1 Lomonosov Moscow State University, Moscow, Russia The presented research reveals an approach to the construction of a legal mechanism for the functioning of payment systems. The proposed approach is based on the application of the principles of legal regulation. The purpose of a work is to determine the existing legal mechanism for the functioning of payment systems, identify its drawbacks and propose a new approach to legal regulation to ensure the proper functioning of payment systems. The proposed approach to legal regulation takes into account the specifics of the functioning of payment systems, which consists in the presence of three elements in its activities: institutional, procedural and organizational. These elements reflect the subject structure of the payment system, the process of providing money transfer services by them, and the ways in which payment system entities interact during providing payment services. Each of the elements must be defined within the legal framework of the payment system to ensure its proper functioning. The proposed principles of legal regulation take into account the features of these elements, in particular, the principles are classified into three groups, depending on the element they affect. The paper describes ways to implement the principles in the legal mechanism: the possibility of their direct application, depending on the type of significance of the payment system, is analyzed. It is also concluded that the implementation of the principles in the legal mechanism will reduce the regulatory burden on payment systems by using an approach depending on the level of significance of the payment system. The paper defines the role of the principles, which is that the principles allow to eliminate the legal gaps in the legislation on the national payment system, and prevent the emergence of new gaps.

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