Emerging Technologies in Payment Industry
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This document provides an overview of emerging payment technologies. It discusses topics like barcode technology, RFID, magnetic stripe cards, smart cards, near field communication (NFC), Bluetooth Low Energy, near sound data transfer, magnetic secure transmission, mobile wallets, cryptocurrency and EMV. The document also describes how these technologies work and are used in payment applications and solutions. It provides details on standards, implementations and adoption of various emerging payment technologies globally.
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Emerging Technologies in Payment Industry
- 1. Emerging technologies in payment industry Erfan MORADIAN November 15, 2015
- 2. Course Objectives At the end of this course, you will know: Different types of smart cards What are differences between MIFARE family members How and where to use each technology in payment solutions The NFC business ecosystem, use-cases and secure element’s basics How to secure e-banking and e-commerce authentication The differences between Apple Pay and Android Pay Why the world is migrating to EMV What are the emerging payment technologies
- 3. Agenda - Part 1 Ubiquitous Commerce Barcode Technology RFID Technology Magnetic Stripe Cards Smart Cards How to secure CNP transactions?
- 4. Agenda - Part 2 Near Field Communication BLE and its differences with NFC Near Sound Data Transfer Magnetic Secure Transmission Mobile wallets overview CryptoCurrency - Bitcoin story What is EMV and why? Wrap up, demo and innovation PITCHFEST
- 6. Computing waves Mainframe Computers Personal Computers Networked Computing Ubiquitous Computing
- 7. Ubiquitous Computing Pervasive Computing Ambient Intelligence Calm technology Many-to-many relationships Connected smart products EveryWARE
- 8. Ubiquitous Computing Paradigm shift Technology becomes virtually invisible in our lives Things that think
- 12. Barcode Technology Visual representation of an object’s data 1D Barcodes (Linear) UPC (Universal Product Code) EAN13 (European Article Number) 2D Barcodes QR (Quick Response)
- 13. 1D Barcodes - Symbologies Character set: Numeric Alpha-Numeric Full ASCII Discrete/Continous TWO-WIDTH/MULTIPLE- WIDTH SELF-CHECKING
- 14. 1D Barcodes - Types (Ex.) Code 25, Interleaved 2 of 5 Wholesale, libraries International standard ISO/IEC 16390 EAN-13, International Article Number Worldwide retail, GS1-approved – International Standard ISO/IEC 15420 UPC, Universal Product Code Worldwide retail, GS1-approved – International Standard ISO/IEC 15420
- 15. 1D Barcodes - Types (Ex.) Code 128 Various – International Standard ISO/IEC 15417 Intelligent Mail barcode United States Postal Service
- 16. 2D Barcodes Aztec Code ShotCode MaxiCode Data Matrix Han Xin Barcode QR Code
- 17. 1. Quiet zone 2. Finder patterns 3. Alignment pattern 4. Timing pattern 5. Version information 6. Data cells QR Codes’ anatomy
- 18. Advantages More information Fewer errors Easier to read Easy to transmit More secure Customizable
- 26. Smart Sunny Sale Campaign
- 28. QR Codes in payment applications 1. Barcodes with payment card information via mobile apps 2. Mobile as barcode readers for payments 3. Barcodes on invoices for bill payments 4. Barcodes to load-up your mobile wallet or engage in e- commerce
- 29. HOW DOES A QR CODE PAYMENT WORK? INDIVIDUAL-TO-LARGE BUSINESS TRANSACTIONS INDIVIDUAL-TO-SMALL BUSINESS TRANSACTIONS INDIVIDUAL-TO- INDIVIDUAL TRANSACTION (PEER-TO-PEER)
- 30. PayConnect Demo
- 31. RFID Technology Radio Frequency Identification Communication via radio waves Being used in different industries
- 33. RFID read distance Read Distance Active/ Passive Antenna Design Radio Frequency Up to 300 meters!
- 34. RFID Tag types Passive Without internal power supply Active With internal power supply
- 36. Magnetic Stripe Cards Magstripe Cards/Swipe Cards Two types: High Coercivity (HiCo) Nearly black Low Coercivity (LoCo) Light Brown
- 37. Magstripe card standards ISO Number Description of Standard 7810 Physical Characterisitics of Credit Card Size Document 7811-1 Embossing 7811-2 Magnetic Stripe - Low Coercivity 7811-3 Location of Embossed Characters 7811-4 Location of Tracks 1 and 2 7811-5 Location of Track 3 7811-6 Magnetic Stripe - High Coercivity 7813 Financial Transaction Cards
- 38. Magstripe Tracks Track Number Recording Density (bits per inch) Character Configuration (including parity bit) Information Content (including control characters) Track 1 210BPI 7 bits per character 79 Alphanumeric characters Track 2 75BPI 5 bits per character 40 Numeric characters Track 3 210BPI 5 bits per character 107 Numeric characters
- 40. Smart Cards A card that includes an embedded integrated circuit chip (ICC) With or without contact (contactless) Store information in a secure way Carry out local processing Perform complex calculations
- 41. Smart Card types
- 42. Smart Card function Trade-Offs
- 43. Smart Card Standards ISO/IEC 7816 14443 15693 Java Card & MULTOS GlobalPlatform GSM EMV Common Criteria FIPS
- 44. MIFARE family NXP Semiconductors- owned trademark of contactless smart cards ISO/IEC 14443 Type A 13.56 MHz
- 45. MIFARE family MIFARE Classic MIFARE Ultralight MIFARE Ultralight C MIFARE DESFire EV1 MIFARE DESFire EV2 MIFARE Plus
- 46. Hybrid Cards Two chips: contact and contactless interface Two chips are not connected
- 47. Dual Interface Cards Single chip with a contact and contactless interface Can access the same chip via a contact or contactless interface, with a very high level of security.
- 48. How to secure CNP transactions?
- 50. One-Time Passwords Unique password which can only be used once Valid only for a limited time period OTP Algorithms Time Based Mathematical Algorithms previous password- based(event based) challenge response-based
- 55. Near Field Communication Short range Communication High frequency: 13.56 MHz Low bandwidth (Data transfer speed): 106, 212, 424 kbps Different operating modes Reader/Writer Peer-to-peer Card emulation
- 56. Types of communication in NFC Technology NFC enabled mobile phone, NFC enabled mobile phone NFC enabled mobile phone, NFC reader NFC enabled mobile phone, NFC tag
- 57. Standardization organizations NFC Forum GlobalPlatform GSM Association (GSMA) ISO/IEC ECMA International ETSI and ETSI Smart Card Platform (ETSI SCP) Java Community Process (JCP) Open Mobile Alliance (OMA) 3rd Generation Partnership Project (3GPP) EMVCo
- 58. General Architecture of NFC Enabled Mobile Phones
- 59. Secure Element Embedded Hardware Secure Memory Card UICC Host Card Emulation
- 60. Trusted Service Manager An independent party serving the other actors of the NFC ecosystem A service platform that acts as a bridge between financial institutions mobile network operators and other ecosystem players To enable mobile commerce
- 61. TSM functionalities End to end security Activation and deactivation of services Remote access to applications Interconnect with Mobile Network Operators and Service providers Application lifecycle management Managing keys for a trusted execution environment
- 62. Over-The-Air Technology used to communicate with, download applications to, and manage a SIM card without being connected physically to the card.
- 63. OTA technology components A back end system to send requests An OTA Gateway to process the requests in an understandable format to the SIM card An SMSC to send requests through the wireless network A bearer to transport the request: today it is the SMS bearer Mobile equipment to receive the request and transmit it to the SIM card A SIM card to receive and execute the request
- 64. OTA Architecture
- 65. NFC Ecosystem without TSM
- 66. NFC Ecosystem with TSM
- 67. SE Comparison
- 69. Tesco-Demo
- 70. Bluetooth Low Energy Bluetooth SMART Same 2.4 GHz RF as Classic Bluetooth Simpler modulation system One to many Location services
- 76. Near Sound Data Transfer Patented by Tagattitude Sound-based mobile transaction technology Uses one time password sent through the audio channel of a mobile device to create an electronic signature enabling secure transactions. Being used for mobile banking transactions
- 77. Near Sound Data Transfer
- 78. Magnetic Secure Transmission Patented by LoopPay Does not require merchants to make changes to their existing payment systems. Emulates the same magnetic field as Magstripe card Works within 3 inches ~8 centimeters
- 85. What is EMV?
- 86. What is EMV? EMV Integrated Circuit Card Specifications for Payment Systems Developed jointly by Europay, MasterCard and Visa in the mid-1990s Developed jointly by Europay, MasterCard and Visa in the mid-1990s
- 87. What is EMV? Consumer payment application is resident in a secure Integrated Circuit Card (ICC) or chip Contact chips in smart cards Contactless chips in smart cards or personal devices such as smart phones Chip key features Store information Perform processing Secure element which stores secrets and performs cryptographic functions
- 88. Why EMV? Protect against counterfeit fraud through authentication of the chip card, smart phone, fob etc Risk management parameters to reduce the risk of unauthorised payment Validate the integrity of the transaction through digitally signing payment data Reduce lost and stolen cards through robust cardholder verification methods in all acceptance environments
- 89. EMVCo and other standard bodies
- 90. Worldwide EMV Deployment and Adoption
- 91. For more detailed information, please contact me: www.linkedin.com/in/erfanmoradian