Sadly, NFC didn’t get the head-start that it needed. One major reason would be, lack of knowledge from our end. There is a lot of misconception about NFC. So in this article, I will clear some air about NFC security.
What is NFC
And this is why mobile phones are often terms as an electronic wallet. NFC enables you to make a payment from a phone. No need to carry your wallet. But considering the rise of cybercrime and credit card frauds, the first question that pops up in our mind, Is it really secure to use NFC payment? The answer to this is,
1. Range of NFC
Now isn’t that uncomfortable close? Can you image a someone bringing his hacking tool ( like NFC reader) as close as few cms and still you can’t suspect it! I don’t think so.
2. NFC work only when the device is unlocked
Moreover, it’s unlikely, that hacker manages to unlock your smartphone, without taking it away from you. But let say, they were successful. Now what.
3. NFC payment requires Secure element
The secure element stays isolated from the main memory, so limited predefined apps have access to it. So even if the hacker gets access to your smartphones. It’s extremely difficult to pull out your financial details as it’s encrypted in that secure element.
4. Two Way authentication using PIN
And the best part is a contactless card or your smartphones don’t store the PIN in them. So even if the hacker is somehow able to pull out your credit card details, he/she won’t have the PIN to complete the bigger transaction. This makes sure that you are safe from a bigger loss. Moreover, if someone can steal your smartphone/contactless cards, they can also steal cash from your pocket.
5. Smart tags can be made read-only
By default NFC tags come rewritable. But you can make them read-only. This ensure others can’t tempered it. For example, if you want your NFC tags to always open a link to your website, you can make it read-only. So that others can’t change the information written on it. Useful when using NFC Tags in public.
Future of mobile payment
This Question reminds me of time when credit/debit cards was first introduced. People were skeptical about its use. People doubt its security and predicted that it won’t work. And here we are now, using plastic card almost everyday. Same goes with NFC, people doubt its security but after seeing its benefits they will adopt this in future.
Conclusion
Update your knowledge and increase the level of security, If you can do that, there is no need to worry when using mobile payment.
