Analysis of Applicability of ISO 9564 PIN based Authentication to Closed-Loop Mobile Payment Systems
Journal: International Journal of Advanced Networking and Applications (Vol.6, No. 02)Publication Date: 2014-09-01
Authors : Amal Saha; Sugata Sanyal;
Page : 2285-2290
Keywords : ISO 9564 PIN Based Authentication; Card-Present and Card-Not-Present Transactions; Open-Loop and Closed-Loop Payments; Mobile Payment; Stored-Value-Account;
Abstract
Payment transactions initiated through a mobile device are growing and security concerns must be addressed. People coming from payment card industry often talk passionately about porting ISO 9564 PIN standard based authentication in open-loop card payment to closed-loop mobile financial transactions and certification of closed-loop payment product or solution against this standard. In reality, so far this standard has not been adopted in closed-loop mobile payment authentication and applicability of this ISO standard must be studied carefully before adoption. The authors do a critical analysis of the applicability of this ISO specification and make categorical statement about relevance of compliance to closed-loop mobile payment. Security requirements for authentication in closed-loop mobile payment systems are not standardised through ISO 9564 standard, Common Criteria [3], etc. Since closed-loop mobile payment is a relatively new field, the authors make a case for Common Criteria Recognition Agreement (CCRA) or other standards organization to push for publication of a mobile device-agnostic Protection Profile or standard for it, incorporating the suggested authentication approaches.
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