Secure Money Transaction in NFC Enabled Mobile Wallet Using Session Based Alternative Cryptographic Techniques Computer Information Systems – Analysis and Technologies

Mobile wallet is very useful for day to day money transaction. It is an essential requirement to build utmost level of security. NFC technology introduces a new gateway to enable secure mobile wallet money transaction providing direct point to point device communication. This paper proposes a method to support alternative cryptographic algorithms for each new transaction and each of these transactions are based on a session with different cryptographic key generated for each session. Information used during mobile transaction resides in the cryptographic SIM card. The point to point mobile money transaction in NFC enabled mobile wallet is carried out over a secure channel using WAP.