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ITEC 810 Overview of Micropayment Technology

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Presentation on theme: "ITEC 810 Overview of Micropayment Technology"— Presentation transcript:

1 ITEC 810 Overview of Micropayment Technology
Supervisor: Josef Pieprzyk Vishal Bharat Sharma Student ID:

2 Agenda Introduction Payment Systems Current Micropayment System in Use
Radio Frequency Identification Operational & Security Issues Security Violations Conclusion

3 Introduction Payments systems Micro-payment System
Traditional Payment System Electronic Payment System Technologies in use from while Magnetic Stripe Card Optical Memory Card Mobile & Internet Micro-payment System Radio Frequency Identification

4 Micropayment Systems in Use
Electronic Toll Tax Collection System E-Tags Autopass Public Transport System London Hong Kong Smartrider For Fuel Payment ExxonMobil Consumer Transactions

5 RFID Radio Frequency IDentification How does it work Benefits of RFID
Tags are of 2 types Active Passive How does it work Whenever tag comes in the range of reader it gets power and starts exchanging data Benefits of RFID Easy to use, do not require a contact pad for communications and power They can transmit data at far higher speeds than their analogues Operating them is much faster

6 Operational & Security Issues
RFID Systems Can Be Easily Disrupted RFID Reader Collision RFID Tag Collision Unauthorized Tag Disabling Unauthorized Tag Cloning Unauthorized Tag Tracking Relay Attacks Forward-Security Side Channel Attacks Eavesdropping

7 Security Violations Speedpass Mifare Classic Card Fastrak ExxonMobil
London Public Transport System Dutch Public Transport System Fastrak Electronic Toll Collection System

8 Conclusion Studied About Shortcomings of current system
Micro-payment system based on RFID Main Components of RFID system Study of security violations Issues with operation and security What has not been covered Cryptography

9 Thank You

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