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

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

3. 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

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 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

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 Mifare Classic Card Fastrak ExxonMobil
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