Mobile payments are growing rapidly, expected to reach $90 billion by 2017. There are several methods of mobile payment including payment at point-of-sale using NFC technology or magnetic secure transmission, mobile devices being used as point-of-sale, mobile payment platforms for online payments, independent payment systems for specific companies, and direct carrier billing which charges purchases to users' mobile phone bills. Security is crucial for mobile payments and involves authentication, access control, confidentiality, integrity, non-repudiation and availability using mechanisms like fingerprints, passwords, multi-factor authentication, and SSL/TLS with secure elements. Major challenges to address include malware detection, multi-factor authentication, data breach prevention and fraud detection and protection.
2. RighTel
Prepared by: Mahdi Khobreh
Intro
• -Mobile payments will reach 90B USD in
2017
• At 2012 mobile payment was 12.8 B USD
• - Apple,Sumsung,PayPal,Google are pioneer
at mobile payment system.
2
3. RighTel
Prepared by: Mahdi Khobreh
Mobile system Payment
Card holder
merchant
acquirerCard Network
Issuer
3
6. RighTel
Prepared by: Mahdi Khobreh
Mobile System Payment
1) Mobile payment at the POS:
- NFC technology: Google Wallet, Apple Pay
Security is based on Secure Element chip and
Unlocking phone
- Samsung Pay: in addition of NFC, it utilized
by magnetic secure transmission (MST)
6
7. RighTel
Prepared by: Mahdi Khobreh
Mobile payment systems
2) mobile payment as the POS:
Merchant use mobile as the POS,
Requires: device to swipe the card and an
application
Square Register:
1- Magnetic cards,
2- EMV chip cards,
3- NFC payments
7
8. RighTel
Prepared by: Mahdi Khobreh
Mobile Payment Systems
3) Mobile payment platform:
• It provides online services on the device, it
can use as “mobile payment at the POS” as
well.
• It mostly use in online payment such as:
Alipay and Paypal.
8
9. RighTel
Prepared by: Mahdi Khobreh
Mobile system payments
• Independent Mobile Payment System:
• It is simlar to “ mobile payment platform” but
it use for a specific company only.like:
Amazon or Starbucks
• Wechat red envelop in 2014 become
popular and has transformed to a mobile
payment platform.
9
10. RighTel
Prepared by: Mahdi Khobreh
Mobile system Payment
• 5) Direct Carrier Billing:
- This method allows users to purchase products or services using
their mobile.
- It does not require credit card.it will charge on mobile billing
monthly.
- SMS works here
- User enter its mobile no. in website a code will sent to its no. By
entering that code in website purchase will done.
- Now a days its popular in Europe & US. Boku works with 250
carriers and works with Facebook, EA, Sony, Spotyfy, lookout
and Riot game
- The market of directcarrier billing predicted to be 6B USD by
2017
10
11. RighTel
Prepared by: Mahdi Khobreh
Mobile Payment security
1) Mobile Payment Security services:
Mobile security in mobile payment desired to include:
- Authentication
- Access control
- Confidentially
- Integrity
- Nonrepudiation
- Availability
11
12. RighTel
Prepared by: Mahdi Khobreh
Mobile payment Security services
2) Mobile payment security Mechanism:
- Fingerprint
- Username/Password
- Multi-factor authentication
- SSL/TSL
- Secure elements
12
13. RighTel
Prepared by: Mahdi Khobreh
Mobile payment security
challenges
- Malware Detection
- Multifactor authentication
- Data breach prevention
- Fraud detection and protection
13