A Blockchain-Based Decentralized Privacy-Preserving Mobile Payment Scheme Using Anonymous Credentials

Without secure commercial information exchange and safe electronic financial transactions over mobile networks, neither service providers nor potential customers will trust mobile commerce. Various mobile security procedures and payment methods have been proposed and applied to mobile commerce, and this chapter attempts to provide a comprehensive overview of them. A secure mobile commerce system must have the following properties: (i) confidentiality, (ii) authentication, (iii) integrity, (iv) authorization, (v) availability, and (vi) non-repudiation. This chapter discusses the security issues related to the following three network paradigms: (i) wireless local area networks, (ii) wireless wide area networks, and (iii) WAP. Among the many themes of mobile commerce security, mobile payment methods are probably the most important. A typical mobile payment process includes: (i) registration, (ii) payment submission, (iii) authentication and authorization by a content provider, and (iv) confirmation. This chapter also describes a set of standards for mobile payments.

With the fast development of mobile business, mobile payment is becoming widely available. Although there is a wealth of academic literature examining mobile payment, the existing mobile payment processes are lack of trust mechanisms, and there are no unified standards for physical and virtual mobile payments. Furthermore, in current mobile payment pattern, applications are difficult to be connected with banks. To solve this problem, this paper gives a general framework of online mobile payment and presents a new mobile payment pattern which advocates stratified extension and cascading agent based on stable and credible platform group. It also proposes a cross-bank unified payment platform to solve the difficulties of connection to banks. As a result, we can get regular, effective and monitoring payment process which is of great maneuverability. The mobile payment process will be more reasonable and the transaction will be more secure.

NOTE: THIS ARTICLE WAS PUBLISHED WITH THE INFORMING SCIENCE INSTITUTE. Aim/Purpose.............................................................................................................................................................................. This study examines the factors that influence customer intention to use mo-bile payment service in Nanjing, China. It also gains a deeper understanding and better insight of Chinese consumer behavior. Background.............................................................................................................................................................................. Mobile payments services represent a tremendously interesting paradox in the world of telecommunications. Although, they are convenient, quick and easy but there is not still enough evidence on how successful this practice is. In Nanjing, China, consumer intention to use mobile payment is still questionable and remains as a skeptical consideration. Methodology.............................................................................................................................................................................. A survey was conducted in Nanjing, China where 612 respondents were interviewed by self-administrated survey. The modified Theory of Reasoned Action (TRA) and Technology Acceptance Model (TAM) were applied in this study. Descriptive analysis, exploratory factor analysis and multiple regressions were used to accomplish the objective. Contribution.............................................................................................................................................................................. This research provides an insight to the mobile telecommunication industry, marketers, decision makers and academics on the factors that encourage consumers to use mobile payment. Findings.................................................................................................................................................................................... Four factors that influence the consumer behavioral intention were deter-mined in this study (perceived risk, perceived usefulness, subjective norm and attitude). The results of multiple regression indicate that all four variables significantly influence consumer intention to use mobile payment in Nanjing, China, however subjective norm has relatively high impact as compared to others. Recommendations for Practitioners........................................................................................................................................ In order to build a positive expression of the brand, mobile service providers are suggested to enhance the persuasion of the application. As customers provide their privacy information to register for the mobile payment services, providers should strengthen their security system. This not only shapes consumer trust but also prevent privacy leakage. Secondly, mobile payment application providers can imply policies for protecting customer rights from potential risk to increase their agreement of the application. These will lead to unexpected losses financially. Recommendation for Researchers............................................................................................................................................ It is recommended to make a comparison study between two Mobile payment platforms by examining constructs such as usefulness, ease of use, perceived risk as well as security risk, financial risk, social risk and time risk between Alipay and Wechat payment system in China. Impact on Society........................................................................................................................................................................ Various forms of mobile payment have been adopted by Chinese consumers due to convenience, speed and ease of use. Even though mobile payment does not replace physical payment cards but it has been acting as a substitute for paper-based payment method and it is driving demand and consumer usage. However, there the potential for data to leak creates some level of insecurity and skepticism for Chinese costumers. Future Research............................................................................................................................................................................ To have an in depth understanding about the consumer intention to use mobile payment, it is recommended to determine the current customers’ satisfaction level by adopting the SERQUAL model. Qualitative and quantitative research with focus group will be a good approach to get a deeper understanding on the factors that influence consumer to use mobile payment services rather than others payment methods. It is also important to get more information regarding customer satisfaction towards the mobile payment platform.

With the development of information technology, increasing retailers cooperate with third-party payment platforms (3PPs) to provide mobile payment service for consumers. The entry of 3PPs into supply chains, not only changes the cash flow, but also decreases consumer price sensitivity and stimulates demand by facilitating credit consumptions. Moreover, information sharing becomes more feasible with the help of 3PPs. To study the impacts of 3PP entry, we build game-theoretic models in a supply chain consisting of a manufacturer, a retailer and a 3PP, and derive the equilibrium in both the non-information sharing and information sharing cases. We show that the 3PP should make a reasonable commission rate which can lure the retailer to introduce the 3PP as well as maintain the 3PP’s profitability. The 3PP entry allows the retailer to set a higher price without decreasing the demand. However, to seize all of the benefit of the 3PP entry, the first mover manufacturer increases the wholesale price to a large extent. As a result, the 3PP entry causes a win-lose situation for the manufacturer and the retailer. The supply chain can be better off from the 3PP entry if it can significantly decrease consumer price sensitivity or its fixed investment cost is low. Furthermore, we find that information sharing benefits the manufacturer and the 3PP but harms the retailer. While information sharing always decreases the expected profit for the supply chain without the 3PP, it may increase that for the supply chain with the 3PP. To improve the supply chain profitability, we suggest to provide incentives for retailer information sharing if the 3PP can significantly decrease consumer price sensitivity (i.e., the proportion of the 3PP users is higher, the grace period of credit consumption is lower, or the cash opportunity cost is lower).

Mobile devices now serve to pay for goods and services by means of the transmission of data, a system known as mobile payments. Mobile payment is receiving growing attention globally, from consumers to merchants, as an alternative to using cash, check, or credit cards. Most encryption techniques applied in mobile payment are based on traditional public key infrastructure. However, the traditional public key encryption algorithm has higher requirements for hardware, which is not suitable for mobile terminals of limited computing resources. In addition, these public key encryption algorithms are vulnerable to quantum computing attacks and the availability of practical quantum computer is approaching faster than previously believed. Since mobile payment is facing more and more security issues, how to complete the payment process effectively and securely becomes a problem urgently to be solved. In this paper, we firstly analyze the problem of the signature scheme for mobile payment and propose an improved signature scheme based on the Number Theory Research Unit (NTRU). The results of the experiment show that the proposed signature scheme is secure and efficient which can raise the speed and probability of generating reasonable signature value. Second, we introduce a new public key infrastructure NTRU-WPKI and design a third-party mobile payment model based on NTRU-WPKI to increase the efficiency and security. Finally, by doing the overall simulation, we prove that our model is highly effective and secure.

Time Efficiency of Point-of-Sale Payment Methods: The Empirical Results for Cash, Cards and Mobile Payments

The rapid evolution of mobile-enabled real-time payment systems, coupled with the proliferation of Internet of Things (IoT) devices, necessitates robust security and efficiency measures. Traditional cloud-centric payment architectures face challenges such as high latency, data exposure, and security vulnerabilities. This paper proposes a secure edge-based IoT integration framework to enhance the security, scalability, and real-time processing of mobile payments. By leveraging edge computing, blockchain technology, and AI-driven anomaly detection, the framework reduces latency, optimizes transaction processing, and strengthens security through decentralized authentication and encryption mechanisms. The proposed approach mitigates cyber threats, ensures data integrity, and enhances system resilience while maintaining seamless user experience. Performance evaluations demonstrate reduced transaction delays, improved security, and increased scalability, making it a viable solution for next-generation mobile payment ecosystems.

Mobile payment has evolved over time and its adoption and usage have proliferated in the new normal subsequent to the COVID-19 pandemic. This study aims to (1) evaluate the performance and (2) map the body of knowledge in order to (3) chart the avenues to advance mobile payment research in the new normal. To achieve its aims, this study adopts and implements a bibliometric methodology on a corpus of 455 publications retrieved from the Web of Science to provide a retrospective and a prospective of mobile payment research. Using performance analysis, this study unpacks the productivity and impact of the contributors (i.e., journals, articles, authors, countries, and institutions) to mobile payment research. Using science mapping, this study reveals the foundational themes and topical trajectories in the extant literature dedicated to mobile payment research. The findings from the performance analysis and science mapping are subsequently used to inform the agenda for future research on mobile payment.

Following the developments of wireless and mobile communication technologies, mobile-commerce (M-commerce) has become more and more popular. However, most of the existing M-commerce protocols do not consider the user anonymity during transactions. This means that it is possible to trace the identity of a payer from a M-commerce transaction. Luo et al. in 2014 proposed an NFC-based anonymous mobile payment protocol. It used an NFC-enabled smartphone and combined a built-in secure element (SE) as a trusted execution environment to build an anonymous mobile payment service. But their scheme has several problems and cannot be functional in practice. In this paper, we introduce a new NFC-based anonymous mobile payment protocol. Our scheme has the following features:(1) Anonymity. It prevents the disclosure of user's identity by using virtual identities instead of real identity during the transmission. (2) Efficiency. Confidentiality is achieved by symmetric key cryptography instead of public key cryptography so as to increase the performance. (3) Convenience. The protocol is based on NFC and is EMV compatible. (4) Security. All the transaction is either encrypted or signed by the sender so the confidentiality and authenticity are preserved.

With the rapid growth in the number of the domestic mobile phone users and the widespread use of the third generation (3G) mobile communication technology, mobile payment will become a new means of payment and be gradually accepted. At present, many cities and regions already have a Phone Financial IC card which can provide contact and Non-contact applications of consumer who use the Point of Sales (POS), the phone financial IC card is the SIM card which comply with the financial specifications PBOC2.0, it can provide an individual customer with a debit or credit services and pure e-wallet functions of financial payment. Mobile payment system based on the phone financial IC card will achieve savings, air deposit, inquiries, payments, communications and other functions. On the basis of the project, this paper depicts and analyses the mobile payment system architecture, business functions and key technologies.

This paper analyses the current situation of Chinese mobile payment industry, and then discusses the win-win benefit mode that take third-party mobile payment companies as main body.Now, two kinds of payment processes--the web page payment and the APP payment is summarized, meanwhile, the paper explores five kinds of major characteristics of this win-win commerce mode.Our dataset is collected by online questionnaires and field research focusing on the usage intention of mobile payment services.Moreover, we put forward an index system to describe the level of usage intention, next to do Principal Component Analysis (PCA) and base on it to establish an evaluation model.Finally, we prove that this model could correctly describe the usage intention of users.

Emerging electronic commerce becomes popular together with the considerable increase of mobile device. Since mobile payments will become one of the most important mobile services. However, most people do not have a fancy for remote mobile payment, or only is limited to micro-payment. The most important problem they worry about is the security of the mobile devices and the applications along with the complexity of payment process. The paper presents a secure remote payment architecture based on smart card in mobile devices that simplifies the payment process and takes a finance measure to permit a more fairly allocation of risks between merchants and consumers. Furthermore, security policies between the security properties of the payment application and the resource limitations are defined. It not only provides strong security but also makes the system open to common payment. Finally, ID-based signature mechanism has advantages over the others based on CA in terms of key distribution and scalability of increasing security level for remote mobile payment service.

Recently, mobile apps increasingly integrate with payment services, enabling the user to pay orders with a third-party payment service provider, namely Cashier. During the payment process, both the app and Cashier rely on some credentials to secure the service. Despite the importance, many developers tend to overlook the protection of payment credentials and inadvertently expose them to the wild. Such leaks severely affect the security of end-users and the merchants associated with the apps, resulting in privacy violations and actual financial loss. In this paper, we study the payment credential leaks for four top-tiered Cashiers that serve over one billion users and tens of millions of merchants globally. Through studying practical mobile payment systems, we identify new leaking sources of payment credentials and find 4 types of exploits with severe consequences, which are caused by the credential leaks and additional implementation flaws. Besides, we design an automatic tool, PayKeyMiner, and use it to discover around 20,000 leaked payment credentials, affecting thousands of apps. We have reported our findings to the Cashiers. All of them have confirmed the issue and pledged to notify the affected merchant apps, while some of these apps have updated the leaked payment credentials afterward.

The rise of Financial Technologies (FinTech) has revolutionized the landscape of modern commerce, transforming traditional financial systems and shaping how businesses, consumers, and financial institutions interact. This review paper explores key FinTech innovations, including mobile payments, blockchain technology, digital wallets, and other disruptive technologies. It examines their influence on global commerce, enhancing efficiency, improving accessibility, and driving financial inclusion. By evaluating the current trends, challenges, and future prospects of FinTech, this paper provides insights into how these technologies are reshaping global financial markets and altering consumer behaviors and business strategies. Key words : FinTech, Digital Payments, Blockchain Technology, Mobile Payments, Financial Inclusion,Cryptocurrency, Consumer Adoption, RegTech, Data Privacy, Cybersecurity, E-commerce, Financial Literacy, Digital Wallets

Mobile payments still remain essentially an emerging technology, seeking to fill the gap between the envisioned potential and widespread usage. In this paper, we present an integrated mobile service solution based on the near field communication (NFC) protocol that was developed under a research project called MobiPag. The most distinctive characteristic of Mobipag is its open architectural model that allows multiple partners to become part of the payment value-chain and create solutions that complement payments in many unexpected ways. We describe the Mobipag architecture and how it has been used to support a mobile payment trial. We identify a set of design lessons resulting from usage experiences associated with real-world payment situations with NFC-enabled mobile phones. Based on results from this trial, we identify a number of challenges and guidelines that may help to shape future versions of NFC-based payment systems. In particular, we highlight key challenges for the initial phases of payment deployments, where it is essential to focus on scenarios that can be identified as more feasible for early adoption. We also have identified a fundamental trade-off between the flexibility supported by the Mobipag solution and the respective implications for the payment process, particularly on the users' mental model.