A Novel Card-Present Payment Scheme using NFC Technology

The payment industry moved from magnetic stripe cards to the EMV protocol over the past few years. This change in technology led to a drastic reduction in fraud through electronic payments. In the UK alone, losses in the high street have been reduced by 67% from Pds. 218.8m in 2004 to Pds. 72.1m in 2009. On the other hand, losses due to fraud have increased over the Internet. The majority of Internet payment protocols do not take advantage of the security provided by EMV protocol and the smart card technology. Most of the transactions are protected by a simple username and a password. Furthermore, customers have no assurance that their credit card details are well protected by merchants processing and storing such details. This book proposes a new Internet payment protocol that leverages the security provided by the EMV protocol and applies it to the Internet commerce context. By using mobile devices with Near Field Communication technology support together with contactless credit cards, a customer can pay for goods bought over the Internet with the same level of security found in store.

Autorentext

Albert Attard (born November 29, 1978) is a chief technical architect currently employed with a betting company. He leads a team of developers and manages numerous highly scalable enterprise applications. Albert holds a B.S. in Computer Science from University of London and an MSc in Information Security from the same university.