Explosive growth in mobile payments is paving the way for new, intuitive and disruptive technologies that are reshaping the payment and transaction market. Major traditional and Internet based commerce, gaming, media-sharing and social media companies are investing in the development of e-commerce and e-payments. Innovations in mobile payments, online authentication and security are creating exciting opportunities for entrepreneurs, marketers, programmers and engineers. This introductory course covers the advancements in the mobile payment and transaction security fields and will prepare you to engage in platform or application development, or pursue new market opportunities.
You will learn the fundamentals of secure chip-card processing mandated by the major payment brands (Europay, Visa, MasterCard). Various mobile payment technologies will be discussed in detail with special focus on the pros and cons of Near Field Communication (NFC), secure element, Host Card Emulation (HCE), Bluetooth, QR codes, tokens and eWallets. You will learn about online transaction security risks such as Heartbleed and fraud prevention methods, including the use of multi-level authentication, biometrics, cloud-based security and Fast Identification Online (FIDO). The course concludes with a discussion of the role of cryptocurrency and the trends and innovations on the horizon.
The course explains and demonstrates NFC tag programming. You will gain hands-on experience via an optional mini project involving NFC programming using mobile phones. By the end of the course, you will understand secure payments, cloud-based mobile payments and e-commerce, and end-to-end secure data transactions from device to the cloud, including all the entities involved in processing the transaction.
- Traditional magnetic strip and secure chip based EMV payment systems
- Understanding the complexity of the transaction process
- Mobile payments, NFC and alternatives
- Mobile payment security: Secure element, HCE (Host Card Emulation)
- Mobile payment in the cloud: tokens, Bluetooth, QR codes, PayPal, V.me
- eWallets (Apple Pay vs. Google Wallet)
- Cloud-based e-commerce and e-payments. Card Not Present transactions
- Multilevel secure authentication
- Standards, certification and compliance requirements
- New security threats
- Future trends
Course note: Students will be responsible for the purchase of optional project material (approximately $25-$100) based on the project selected.
Skills Needed: General understanding of e-commerce and some programming experience.