ITEC 810 Overview of Micropayment Technology

1. ITEC 810Overview of Micropayment Technology Supervisor: Josef Pieprzyk VishalBharat Sharma Student ID: 41423682

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

3. Introduction • Payments systems • 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 • 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 • ExxonMobil • Mifare Classic Card • 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