-------------------------------------------------------------------ABSTRACT-------------------------------------------------------------------Payment transactions initiated through a mobile device are growing and security concerns must be addressed. People coming from payment card industry often talk passionately about porting ISO 9564 PIN standard based authentication in open-loop card payment...

Along with rapid growth in usage of credit card in ecommerce, rough and robust security measure and technologies should be developed. One old problem about the credit card transaction -that also exists in widely used payment system like 3D-SecureTMis the possibility of disclosure of sensitive data which is being stored by merchants during the transaction. A solution to this problem is using pro...

To provide card holder authentication while they are conducting an electronic transaction using mobile devices, VISA and MasterCard independently proposed two electronic payment protocols: Visa 3D Secure and MasterCard Secure Code. The protocols use pre-registered passwords to provide card holder authentication and Secure Socket Layer/ Transport Layer Security (SSL/TLS) for data confidentiality...

This paper introduces an artificial payment card market in which we model the interactions between consumers, merchants and competing card issuers with the aim of determining the optimal pricing structure for card issuers. We allow card issuers to charge consumers and merchants with fixed fees, provide net benefits from card usage and engage in marketing activities. The demand by consumers and ...

the water framework directive (wfd) is a far-reaching piece of european communitylegislation. estimates of the benefits of wfd programs are needed at the present time for two reasons. first,the wfd itself allows for derogations from the general requirement of member states to reach good ecological status in all water bodies by 2015 in cases where the costs of doing so can be shown to be disprop...

the water framework directive (wfd) is a far-reaching piece of european communitylegislation. estimates of the benefits of wfd programs are needed at the present time for two reasons. first,the wfd itself allows for derogations from the general requirement of member states to reach good ecological status in all water bodies by 2015 in cases where the costs of doing so can be shown to be disprop...

With the advancement of internets, user’s transaction is at ease, timely manner and effective wise through online payment method, so also cybercriminals become increasingly more prompt in areas like e-commerce sites, financial institutions, payment processes and other online transactions. Therefore the need for the system security and privacy became the central issues for the acceptance of onli...

Near field communication has enabled customers to put their credit cards into a smartphone and use the phone for credit card transaction. But EMV contactless payment allows unauthorized readers to access credit cards. Besides, in offline transaction, a merchant's reader cannot verify whether a card has been revoked. Therefore, we propose an EMV-compatible payment protocol to mitigate the transa...

This paper first studies the emerging requirements of mobile payment system by way of NFC cell phones, etc., in public transport, especially the security challenges. Then, a secure credit recharge scheme is proposed to cover these new requirements. In the proposed scheme, we make use of a shared secret between the smart card and the server to build a mutual authenticated and secret communicatio...

In this article, we investigate why merchants accept credit cards for payment despite the relatively high cost of processing these types of transactions. A two-period model is constructed to determine under what conditions a credit card equilibrium would exist. The results of the model indicate that when the cost of funds is not too high and when the merchant’s profit margin is sufficiently hig...