Security failures in EMV smart card payment systems
New credit cards containing Europay, MasterCard and Visa (EMV) chips for enhanced security used in-store purchases rather than online purchases have been adopted considerably. EMV supposedly protects the payment cards in such a way that the computer chip in a card referred to as chip-and-pin cards...
| Main Authors: | , , |
|---|---|
| Format: | Conference or Workshop Item |
| Language: | English English |
| Published: |
IEEE
2016
|
| Subjects: | |
| Online Access: | http://irep.iium.edu.my/54197/ http://irep.iium.edu.my/54197/ http://irep.iium.edu.my/54197/ http://irep.iium.edu.my/54197/7/54197.pdf http://irep.iium.edu.my/54197/8/54197-Security%20failures%20in%20EMV%20smart%20card%20payment%20systems-SOPUS.pdf |
| Summary: | New credit cards containing Europay, MasterCard and Visa (EMV) chips for enhanced security used in-store
purchases rather than online purchases have been adopted considerably. EMV supposedly protects the payment cards in such a
way that the computer chip in a card referred to as chip-and-pin cards generate a unique one time code each time the card is
used. The one time code is designed such that if it is copied or stolen from the merchant system or from the system terminal
cannot be used to create a counterfeit copy of that card or counterfeit chip of the transaction. However, in spite of this design,
EMV technology is not entirely foolproof from failure. In this paper we discuss the issues, failures and fraudulent cases associated
with EMV Chip-And-Card technology. |
|---|