In the “four corner model”, acquirers are apparently the less active party as their role seems ‘only’ to forward the transaction flow originating from the merchant to and from the issuer. In the model, the acquirer is the merchant’s bank.
Merchants are one of the corners of the ‘four corner’ model in the payment world. In what follows, we will explain some of the security mechanisms for Merchants to prevent unauthorized transactions and payment card fraud.
An issuer is one of the corners in the ‘four corner’ model. An issuer is a financial organization (e.g. a bank) that produces payment cards and allows the cardholders to use them.
The EMV personalization data processing in itself is not the topic of this article, we will instead focus on the cryptographic schemes involved in EMV personalization, as well as the key management involved; which is both complex and mandatory.
Here we provide a short overview of why strong authentication is seriously needed to provide security for mobile banking and payment applications.
The use of mobile payments is expected to continue to rise and become the second most popular payment method after debit cards by 2022. In 2017, China’s mobile payments market was estimated at $17 trillion. The growth of mobile payments depends totally on the prevention of data breaches, and for this, there is an important technology that should be designed into the mix of security mechanisms: Tokenization.
There are several types of key block formats used in different industries, especially the retail banking industry. The systems that use these key blocks are part of heterogeneous networks. Therefore, they need to interchange their data with other systems, potentially using different key block formats or even different key binding algorithms (key wraps, key encapsulation, etc.). In what follows, we will explain how this is possible and what techniques are used to perform that.
Cardholders (or consumers) are one of the corners of the ‘four corner’ model in the payment card world. Here we take a brief look at the payment security in relation to cardholders.
A key block is a unique cryptographic structure designed to protect cryptographic keys during transport over potentially insecure networks. A team around Mohammed M Atalla invented the concept of the key block with his Atalla key block. This solved several issues created by “key variants” that were then used for transporting keys.
