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Mobile Payments Security 101

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Mobile Payments Security 101 GUIDE Mobile Payments Security 101 How merchants and mobile payment service providers can protect their users against mobile payments fraud. DEVELOPED AND PUBLISHED BY: CONTENTS Page 3 Executive Summary Page 27 Chapter 6 | Overview of Solutions Providers Page 4 Chapter 1 | Introduction Alaric Mobile payment methods Bell ID Mobile wallets Carta Worldwide Cybera Page 8 Chapter 2 | Mobile Payments DeviceAuthority Transaction Volume FIS Apple Pay InAuth Rival services Ingenico Mobile Solutions Jumio Page 13 Chapter 3 | Threats Kaspersky Lab Mobile malware MagTek Jailbreaking and rooting Omlis Native apps OneVisage Mobile payments fraud Payfone The Association for Authentify acquisition Financial Professionals ThreatMetrix Apple Pay fraud ValidSoft Veridu Page 19 Chapter 4 | PCI Compliance Verifone mPOS devices WiseSec Page 22 Chapter 5 | Security Technologies Page 39 References Point-to-point encryption (P2PE) Wi-Fi Tokenization EMV EMV and NFC Authentication technologies Published by Networld Media Group © 2015 Networld Media Group Written by Robin Arnfield, contributing writer, MobilePaymentsToday.com. Tom Harper, president and CEO Kathy Doyle, executive vice president and publisher Will Hernandez, editor Christopher Hall, managing editor, payments and technology group Tiffany Smith, custom content editor Mobile Payments Security 101 | © 2015 Networld Media Group 2 EXECUTIVE SUMMARY The popularity of banking and m-commerce on smartphones and tablets, merchant adoption of mPOS devices, the growth of in-app payments, and the emergence of mobile wallets and NFC-based point-of-sale payment services mean that ensuring the security of mobile transactions and the privacy of customers’ data is critical. Robin Arnfield This report provides guidance on how merchants and mobile payment MobilePaymentsToday.com service providers can protect their users against mobile payments fraud. Robin Arnfield has been a technology It reviews best practices for mobile payments security, such as: journalist since 1983. His work has • not jailbreaking or rooting smartphones; been published in ATM Marketplace, Mobile Payments Today, ATM & Debit • deploying technology to verify the identity of mobile devices used News, ISO & Agent, CardLine, Bank for m-payment transactions; Technology News, Cards International • replacing consumers’ card information with one-time tokens; and Electronic Payments International. He has covered the United Kingdom, • ensuring cardholder data is encrypted from the point of interaction European, North American and Latin with an mPOS device’s card reader all the way to the acquirer; and American payments markets. • installing controls on mPOS devices so only approved and secure apps can be downloaded by employees. Mobile Payments Security 101 | © 2015 Networld Media Group 3 CHAPTER 1 Introduction The popularity of banking and m-commerce on smartphones and tablets, merchant adoption of mPOS devices such as Square, the growth of in-app payments, and the emergence of mobile wallets and NFC-based point-of- sale payment services such as Apple Pay mean ensuring the security of mobile transactions and the privacy of customers’ data is critical. “Mobile and other connected devices are fast becoming the leading way for users to access commerce and banking services,” said Vanita Pandey, senior director of strategy and product marketing at San Jose, California- based ThreatMetrix. “Mobile is the biggest emerging opportunity and risk for businesses and financial institutions trying to deliver frictionless experiences to their customers. Continued growth of mobile payments and banking will lead to stricter rules and regulations to secure these transactions.” Mobile payment methods There are five main ways to carry out mobile payment transactions at the point of sale. MPOS MPOS transactions involve customers swiping or inserting their card into a card reader attached to a smartphone or tablet that connects to a payment network through a wireless link. NFC In an NFC transaction, an NFC-enabled smartphone communicates via an RFID link with a contactless transmitter attached to a POS device. The cardholder pays using a card held in digital form in a mobile wallet, which is stored either in a secure element on their smartphone’s SIM card or in the cloud using a technology called Host Card Emulation (HCE). At checkout, the consumer tells the clerk that he or she wishes to pay using a smartphone. The consumer opens the mobile wallet, selects the desired card and then taps the smartphone on the merchant’s contactless POS Mobile Payments Security 101 | © 2015 Networld Media Group 4 CHAPTER 1 Introduction terminal. The consumer’s payment credentials are retrieved automatically from the smartphone’s secure element — or from the cloud using HCE — and transmitted via NFC to the payment terminal. The advantage of HCE over secure element-based NFC is that, since HCE is supported by Google’s Android KitKat 4.4 operating system, it can run on any Android-based smartphone, not just on NFC-enabled smartphones. “Visa believes that (HCE) cloud-based mobile payments represent a significant opportunity to accelerate mobile payments globally,” said Rodrigo Meirelles, Visa’s senior director of digital payments solutions for Latin America and the Caribbean. Bluetooth Bluetooth low energy (BLE) is a protocol that enables Bluetooth-based smartphones and other mobile devices to communicate with BLE- based wireless transmitters known as Beacons. On entering a store, the consumer’s m-payment app senses a BLE Beacon and “checks in” to alert the retailer’s POS of the consumer’s presence. At checkout, the consumer tells the clerk to post the sale to his or her m-payment account, which is visible on the clerk’s POS terminal. The clerk verifies the consumer’s identity and completes the transaction. According to the Mobile Payments Today white paper “The iBeacon/BLE vs NFC Debate: Now the Truth,” which is sponsored by Pyrim Technologies, BLE transmitters are designed to continually broadcast a discovery signal. “Any app residing within a BLE-enabled (Bluetooth 4.0) smartphone can be configured to listen for these signals,” the white paper says. QR codes As an alternative to NFC, some m-payment service providers such as Starbucks and LevelUp offer QR code-based systems that store payment information in the cloud instead of the handset and can be executed on any smartphone. The LevelUp mobile app for iPhone and Android allows registered users to link their payment card to a unique QR code displayed within the app. To pay with LevelUp, users scan the QR code on their phone at LevelUp terminals located at LevelUp-accepting merchants. In addition, LevelUp also supports NFC and Apple’s BLE-based iBeacons. Cloud-based apps Several mobile payment providers such as PayPal offer apps that Mobile Payments Security 101 | © 2015 Networld Media Group 5 CHAPTER 1 Introduction communicate in the cloud with retailers at the point of sale without users scanning QR codes or tapping their smartphones on a POS terminal. PayPal’s app shows users a list of retailers who accept PayPal in a particular area. Customers use the app to check in with the merchant when in the store, tell the clerk they are using PayPal and then pay for purchases through their PayPal accounts. Mobile wallets Mobile wallets serve an array of functions. According to Mobile Payments Today’s Mobile Wallet Comparison Guide 2015, they provide a place where consumers store and organize coupons, loyalty programs, payment cards, tickets and any other kind of paper items that can be digitized. Other mobile wallets offer bill payment, comparison shopping, location- aware services, P2P payments functionality and social-media connectivity. Both Visa and MasterCard offer digital wallets for their issuing banks’ cardholders. In July 2014, Visa introduced Visa Checkout, an online payment service that replaced its previous digital wallet V.me in Canada, Australia and the U.S. By the end of 2015, Visa Checkout will be available in 13 additional countries, including Brazil, China, Malaysia, Mexico, South Africa and the United Arab Emirates. Visa Checkout enables consumers to enter their payment details once when they enroll and pay online with just a username and password. Consumers can enroll through their issuing bank, through participating retailer websites or at the Visa Checkout website, and they can link non- Visa payment cards to their Visa Checkout accounts. More than 110 merchants — including Gap, Neiman Marcus, Orbitz, Pizza Hut and Staples — have deployed Visa Checkout. MasterCard launched its MasterPass digital wallet in February 2013. For online purchases, MasterPass provides shoppers with a simple checkout process by eliminating the need to enter detailed shipping and card information for every purchase. At the point of sale, MasterPass offers cloud-based, NFC and QR code-based payments. In August 2014, MasterCard added support for in-app payments to MasterPass. Retailers can use an API to embed MasterPass as a checkout option within a mobile app, mobile website or desktop app, according to MasterCard. Mobile Payments Security 101 | © 2015 Networld Media Group 6 CHAPTER 1 Introduction Vodafone digital wallet U.K.-based telco Vodafone said in March 2015 that its customers soon will be able to add bank cards to their Vodafone Wallets and use smartphones to pay for goods and services at contactless terminals (http://www. mobilepaymentstoday.com/news/vodafone-partners-with-visa-carta- worldwide-for-contactless-m-payments/). Following agreements with Visa and payments processor Carta Worldwide (see Chapter 6, Carta Worldwide, page 27), bank card payments via Vodafone Wallet will be enabled in European markets from the second quarter of 2015 onward. The service, which requires a Vodafone NFC-enabled SIM card, will be supported on a wide range of Android smartphones. To use the service, customers will: input their bank cards to the Vodafone Wallet app, where an alias of each card is stored securely in the Vodafone NFC-enabled SIM card; confirm ownership of the card using Verified by Visa authentication; pay by tapping their phones against a contactless POS terminal; and check their mobile payment transaction history using their phones.
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