A study of security in wireless and mobile payments

Abstract: Mobile payments are increasing in popularity in recent years. New mobile solutions are being developed in the form of new Internet capable mobile devices such as the IPhone and new wireless networks such as the LTE and WiMAX networks. This report will present, explain and compare some of the most popular wireless networks that enable mobile payments, from a security point of view. The chosen networks are 3G with connection to GSM, and WLAN networks. The main security mechanisms involved in each network, and how they work will be studied. Security requirements and some of the most important threats each network faces will be presented and discussed. The main purpose of the report is to examine if mobile payments offer an acceptable level of security to the average user.