How Technology Has Changed Us

Unlike a security access card with a magnetic strip, the smart card has many uses, including building access control and storing value for consumer purchases.

Redesigning of these cards is a part of the Next Generation Secure Identification Document Project. The new cards will have fraud resistant security features and enhanced graphics. These new features will make the cards highly secure and tamper-resistant.

Until U.S. card issuers adapt data-encrypted microchips—which have been used in Europe and other parts of the world for years—our debit cards are at peril. You’re starting to see the chips on some credit cards but in the meantime, the world’s hackers know we that still use those magnetic stripe cards, and so they focus their thievery efforts here. No matter America’s status as the birthplace of the iPhone and the cradle of high-tech: When it comes to our debit

SmartCard LLC is a company that possesses expertise smart cards as well as magnetic strip technology. SmartCard LLC intends to develop applications and solutions to address the rapidly growing demand for marketing frequency or loyalty programs. SmartCard LLC asserts that as competition increases in the retail sector and other industries that companies will be searching for new ways to understand their customers and techniques to retain their customers. SmartCard LLC’s smart card solutions are a proposed solution to this market problem. The SmartCard LLC strategy is focused on using smart cards for their clients’ frequency or customer loyalty programs and bringing end

Cost reduction. By replacing plastic swipe cards, all cost associated with producing, distributing and replacing a lost card is completely

Gemalto’s Contactless or tap and go cards met with immediate success, fitting in perfectly with the life style expectation of the cardholders. They are fast, convenient, secure and to put it in one word cool. Research demonstrated how much the speed of transaction and the convenience of tapping are seen as direct advantages both by the cardholder and by the merchant. I have always been surprised to see the concern some card issuers have about the security of contactless payments. It is amazing to see how much cardholders appreciate the security of their contactless cards. Not only

Magnetic access control card security systems use smart cards which are small plastic cards made out of Polyvinyl Chloride incorporating one or more integrated circuits within its thickness to store and transact data (Hendry, 2007). Types of smart cards include Subscriber Identity Modules (SIM) cards, magnetic

It is an advanced version of identity theft.frauders copy the information from magnetic strip and the back of your plastic without interfering with the legitimate payment transaction.

The first difference between chip cards and magnetic stripe cards is the security of the cards. Due to people put the data into the cards, the security of the cards is a serious factor of the cards. Once the security is not reasonable that the data leaks out, the owner of the card will suffer a large loss. The data includes the profile of a person, like the home and work addresses, the phone number, and the most important element is the money that is in the credit cards and debit cards. Basically, people pay the greatest attention to whether the money in the card is safe or not. Chip card has high standard on the security. It is difficult to clone the information of the cards. And by now, there are no examples of cloning the information on chip cards. According to one of the authorized bank Chase, a chip provides an extra status of security to cards. It needs to produce one-time code to finish the process of the transaction. It protects cards from the illegal

In the years 2013 and 2014, the security breaches has increased over the past decade which affected millions of customers worldwide and dollars of money. The security measures and the outdated technology were partially responsible of using magnetic strip debit and credit cards instead of the latest technology like EMV chip cards. Many nonprofit organizations like Smart Card Alliance has launched a website dedicated to helping U.S. consumers, merchants and others understand the switch from magnetic stripe cards to EMV chip technology (Stewart, 2012).

In Card Emulation mode, the NFC device appears to an external reader much the same as a traditional contactless

It has been a long time since we adopted electronic payments. Currently the most common form of an electronic payment is the use of EMV (Europay, MasterCard, VISA) cards with a magnetic stripe. These include credit cards, debit cards, prepaid cards, and now smart cards. In these processes the card or card number is swiped or entered into the merchant’s computer through a terminal. The terminal transmits data to the acquirer (a bank, for example), and then the acquirer transmits data through a card association to the card issuer who makes a decision on the transaction and relays it back to the merchant. Then, the merchant gives the goods or services to the cardholder. Funds flow later for settlement with credit cards and are debited immediately for debit or prepaid cards.

NFC gadgets are novel in that they bolster three methods of operation: reader/writer, Peer-to-peer, and card emulation. The diverse working modes are in light of the ISO/IEC 18092 NFC IP-1 and ISO/IEC 14443 contactless savvy card models.

A smart card is a card generally made of plastic same like a credit or debit one .It consists of a integrated microprocessor and a memory. Two ways of it exchanging data with the outside world are via contact cards and via contactless cards that use radio frequency. To interchange information the card is to be put in a reader (contact cards) or kept in the connection area of a contactless reader. Smart cards do not require batteries or any power supply .Power is provided by the reader. It is necessary for a card to have a certain microprocessor or logic for it to be called a smart card. Security and mobility are the two main features of a smart card. The applications that are linked to a smart card system have the major requirement of

the concept of digital money and establishment of ad-hoc key protocols. But it also includes security attacks and potential misuses. Thus , most of the people can’t trust this payment system . This paper mainly focused on the security attack of NFC based payment system.