Introduction The mobile platform has been at the forefront of innovation in the last 5 years. We now have access to our email, personal media, and people we care about within reach of our pockets. Smartphones have recently made our lives easier with its quick access to services we didn’t have before. Applications like GrubHub and Uber allow us to get food delivered that would not normally and find an easy and safe ride to any destination. With mobile payments, companies like Google and Apple want to make the same to make the process of shopping even easier. Putting a user’s credit cards, debit cards, and/or bank accounts in a unified application that you can pay with just tap. Now this automation makes life better but at what cost to the user.
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[7] Explained the reality of mobile payments in the future and what requirements mobile phones and wireless companies must use to provide reliable mobile payment infrastructures. Most mobile phone users are most wary about payments on their mobile phone because they are nervous of the security used during transactions [8]. Proximity payments rely on NFC technology and the hardware and software security measures are described in [9]. [10] had research that gave different security strategies in logical and physical security models that are used to secure proximity payments today. [11] showed tables that help readers to identify the risk of security vulnerabilities to know which types of vulnerabilities need to be treated before others. Apple Pay and Google Wallet are the two large proximity payment platforms used on iOS and Android respectively. Apple Pays use guide and locations that accept it were displayed in [12]. [13] gave a real industrial look at how both platforms operated and their similarities and …show more content…
What most people don’t know is that they can also have a chip that can allow them to send data wirelessly at close distance to the receiver. This technology, Near Field Communication (NFC), allows for a smartphone to send the information of someone’s credit or debit card information wirelessly. This transaction is supposed to emulate the action credit cards have had for the last decade of taping to pay. The details on how this technology works will be explained in the next chapter. Along with proximity payments (through NFC), other types of mobile payments can be used. Remote payments are payments on mobile that happens through a web browser or a smartphone application. [15] An example would be purchasing an app on Google’s Play Store or Apple’s App Store. The last type of mobile payment is account based payments. This has been made popular by Starbucks and their virtual gift cards and Squares credit/debit card reader that allows businesses and consumers to conduct electronic transactions with their mobile phone and a proprietary card reader. Mobile payments are still not used by every person with a smartphone. As shown in Figure 1, it shows that 46% of consumers are worried about the security of mobile
[7] Explained the reality of mobile payments in the future and what requirements mobile phones and wireless companies must use to provide reliable mobile payment infrastructures. Most mobile phone users are most wary about payments on their mobile phone because they are nervous of the security used during transactions [8]. Proximity payments rely on NFC technology and the hardware and software security measures are described in [9]. [10] had research that gave different security strategies in logical and physical security models that are used to secure proximity payments today. [11] showed tables that help readers to identify the risk of security vulnerabilities to know which types of vulnerabilities need to be treated before others. Apple Pay and Google Wallet are the two large proximity payment platforms used on iOS and Android respectively. Apple Pays use guide and locations that accept it were displayed in [12]. [13] gave a real industrial look at how both platforms operated and their similarities and …show more content…
What most people don’t know is that they can also have a chip that can allow them to send data wirelessly at close distance to the receiver. This technology, Near Field Communication (NFC), allows for a smartphone to send the information of someone’s credit or debit card information wirelessly. This transaction is supposed to emulate the action credit cards have had for the last decade of taping to pay. The details on how this technology works will be explained in the next chapter. Along with proximity payments (through NFC), other types of mobile payments can be used. Remote payments are payments on mobile that happens through a web browser or a smartphone application. [15] An example would be purchasing an app on Google’s Play Store or Apple’s App Store. The last type of mobile payment is account based payments. This has been made popular by Starbucks and their virtual gift cards and Squares credit/debit card reader that allows businesses and consumers to conduct electronic transactions with their mobile phone and a proprietary card reader. Mobile payments are still not used by every person with a smartphone. As shown in Figure 1, it shows that 46% of consumers are worried about the security of mobile