ITEC 810 Overview of Micropayment Technology Supervisor: Josef Pieprzyk Vishal Bharat Sharma Student ID: 41423682

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

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

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

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

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

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

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

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