Near Field Communication ( Nfc )

Although major retailers have had credit card breaches, which devastated consumer trust in credit, Mobile payment systems stay efficient, but risk personal and financial data fraud similar to plastic credit card usage theft. Patrons fear merchants can track your shopping habits, location and financial records using a mobile GPS signal. Nevertheless, worries that someone can steal their information when sent wirelessly therefore consumer confidence remains low. Thorough safety measures will help give customers composure and regain assurance. (Busby, 2014) (Sapienza, 2013)

Card holders have several countermeasures, including complex software which can assemble a vest interaction and guesstimate the possibility of fraud. For example, a large trade occurring in a great distance from the cardholder’s home might seem mistrustful. Merchants may be commanded to call the card holder for authentication, or reject the transaction or do whatever they want. Customers must call the issuer and prove their identity to get their card back.

The exact definition of Near Field Communication (NFC) is a set of communication protocols that enable two electronic devices, one of which is usually a portable device such as a smartphone, to establish communication by bringing them within 2in of each other. For example, if I have an iPhone specifically it will connect to the Internet and can exchange data with online services. Different providers such as AT&T Mobility, Verizon Wireless, T-Mobile USA and even Apple have joined in this new interesting way to handle their e-pays.

Security is an important part of any technology that is developed in the system. The wireless technologies have greater security threats. Similarly, the Near Field Communication technology users also have some security concerns. Information, and authentication security is the two most important concerns of any technology. Let’s list the NFC security threats,

Moreover, it is important to note that while cryptography is necessary for secure communications, this report is not by itself sufficient. The reader is advice then, that the topics covered in this paper only describe the first of the many steps necessary for better security in a number of situations.

Therefore, it is essential to address issues like security of the banking transactions that are executed from a distant place and transmitted over the air. Besides this, it is also important to ensure the security of financial transactions, if the device is stolen by hackers. If these concerns are properly addressed, then it would help increase the popularity of mobile banking by instilling a sense of trust among the customers.

The technology identified in this proposal is fusion of WT with near field communication (NFC) (Alexiou, Basagiannis, & Petridou, 2016) to provide an easier and more secure method of authentication to access secure areas/systems. Once the questions below are answered, it can be determined if this combination will improve the availability of the device, confidentiality of the credentials stored on the device, and authentication process (Wilson, 2013). Additionally, this study will help determine the user acceptance level (Davis, 1989) of this method of

NFC technology is required to use digital wallet credit card payments for purchases at the check-out counter or for online purchase. There is a passive tag in your credit card that is activated when it comes within 10cm of an NFC initiator device. The NFC initiator is the POS (point of sale) or check-out counter card reader in the store. Most smart phones use NFC so your phone can act as your credit card as soon as you set it up and store the information from your card. Once your phone is set up, all you need to do is hold your phone within 10cm of the same card reader at the store and it will pay for the purchase just like your card.

Previously, the biggest hurdle for 2FA has been the inconvenience of it. However, the experience is constantly moving to a more convenient direction. Nowadays, mobile applications are able to use NFC to transfer all the information that starts the process of login in. The seamless process only requires the user to initiate the logging in with a

Bouzefrane et al. [30] proposed a security protocol to authenticate Cloudlets-based mobile computing using a mobile feature called NFC (Near field communication) of wireless data. Cloudlets are used to offload intensive computation for NFC platforms, when mobile

In this modern era of technology, we extensively make use of virtual money. Credit and Debit cards have become an integral part of the world’s economy. Due to this extensive usage of cards, we have become a “cashless society”. We make use of credit cards to make online payments, to buy items at retailers and grocery stores; almost anywhere we go and purchase, we extensively make use of credit cards. This over dependency and usage of credit cards has given rise to new form of crime called the Credit Card fraud.

According to Vacca (2007), fingerprint authentication is trusted for e-commerce since most of the Internet users are uncomfortable of disclosing their credit card information online (p. 123). Some businesses and companies are starting to integrate fingerprint scanning into their products and systems. Potter (2015) states that Royal Bank of Scotland would enable fingerprint authentication on its mobile banking apps. Mobile banking users would be able to access their accounts instantly by tapping their finger on the fingerprint sensor. According to Wielch (2014), Apple’s new payment method called Apple Pay allows consumers to transact securely without taking their credit card out. Furthermore, Wielch (2014) states that a consumer simply holds their phone near the payment terminals and places their finger on the Touch ID to authorize the transaction. Sustar (2014) affirms that Apple Pay is being integrated by leading retailers, banks and credit card companies into their

Along with the remarkable development of technology and the Internet, people are becoming more rely on technology, thus dealing with more cyber-crime comparing to the past. The issue of stealing financial data from credit or debit card has been a heated issue for the past decades. Furthermore, lately, as the practice of contactless and mobile payment to pay get accepted and is used more by consumers, a new door of opportunity has been opened for cyber criminals. Hackers can hack into customers’ financial data, get their payment information, have direct access to their money and are able to use them at their disposal. The worst case will be when hackers are capable of cracking customers’ passwords and changing them.

At least 130 countries have replaced this dated technology, most of them opting to switch to chip and pin cards, otherwise known as smart cards. While smart chips contain the same financial information required to complete transactions that magnetic stripe cards have, they do not share this information with the point of sale. Instead, the register asks for a verification code to use the account, and the smart chip provides this code. Since the code is randomly generated for each transaction, even if someone were to replicate a card with someone’s information on it, they could not generate the passcode contained on the smart chip to utilize that information, making it much more secure to use than magnetic stripe cards.

Once the information is retrieved from the contactless card we will then look at new attack vectors, a new idea is the concept of virtual pickpocketing. Virtual pickpocketing is a fairly new concept that explores the idea of an embedded piece of malware that constantly looks for NFC signals such as a contactless debit card. The malware itself is disguised as a legitimate application that is installed on the user?s phone, once the phone comes into contact with the contactless card, the cards details are scanned and the information is relayed to a command and control server. Once the information is stored on the command and control server the attacker can now use an application to retrieve the card details and use a mobile device as if it were a contactless card to make payment for goods and services. This project has found multiple vulnerabilities in contactless payment cards; the reasons for which are discussed.