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electronic payments — and — emerging technologies

electronic payments — and — emerging technologies. peter honeyman center for information technology integration. problem statement. risk management elevate trustworthiness of electronic payments to “card present” status simple, practical, inexpensive. emerging technologies.

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electronic payments — and — emerging technologies

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  1. electronic payments — and —emerging technologies peter honeymancenter for information technology integration

  2. problem statement • risk management • elevate trustworthiness of electronic payments to “card present” status • simple, practical, inexpensive

  3. emerging technologies • computing: moore’s law dictating faster and smaller computers at a constant price • smartcards are the ultimate mobile computer • communications • ubiquitous internet • wireless data communications • biometric identification

  4. smartcards • tamper resistant • secure key storage and management • “personal cryptography assistant”

  5. how can smartcards be applied? • secure identification • trust platform • to do: solve the infrastructure problem

  6. what is this? •  • a mobile phone? NO! • portable, disposable smartcard reader • solves the infrastructure problem

  7. emerging communications technologies • gsm • europe now, n. america coming on line • europe: gprs, umts • japan: i-mode • cdpd • n. america now, will fade from the scene • n.a. telecoms don’t “get it” • wap • and other futile efforts to occupy this space

  8. the convergence • pda + mobile phone + bluetooth + smartcard • offers opportunity for secure, authenticated payments

  9. biometrics • goal: personal identification • fingerprint • faceprint • retina or iris scan • voice recognition • questionable technical foundation to date • secrecy abounds

  10. biometrics? • revocation is difficult • fingerprints and other durable identifiers • spoofing is easy • fingerprint • voice recognition • compare to present biometric identification • signature on paper • demeanor of customer

  11. multi-factor identification • combination of methods • secure crypto platform • biometrics, possibly more than one • can this offer risk management comparable to “card present” transaction? • maybe • “data collection yields to pattern recognition” -- m. mcluhan

  12. promoting (and preventing) competition • the wap re-intermediators • wap must die • internet protocol will be the instrument of its death! • open systems • has huge advantages in risk management • gsm protocols • french bank card • aes (des replacement)

  13. next steps • explosive growth in internet deployment application space will continue unabated • it will continue to accelerate! • this provides fertile ground for innovation, development, and deployment • Subject: MAKE MONEY FAST • €omputing + €ommuni€ation$

  14. thank you for your attention http://www.citi.umich.edu/

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