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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Article
Design and Simulation of NFC-Based M2M Payment Model for Mobile Phone With Trusted Platform Module
Author(s)
Chinyere Grace Kennedy, DongSub Cho
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DOI:10.17265/1537-1514/2017.10.004
Affiliation(s)
Ewha Womans University, Seoul, South Korea
ABSTRACT
The introduction of the
information technology (IT) plus the introduction of the internet, has been
said to be the source of advancement in electronic commerce. It’s focused on that, in the future,
predictably, the society will be cashless, the circulation of physical cash
will have decreased. The use of IT especially in the finance and industrial
sector, not forgetting the proliferation of ecommerce hasled to increased speed
in arising of electronic cash. The use of cashless methods, is appealing to the
younger people. This is the reason why machine to machine (M2M) is gaining
momentum as days go by. Some countries like Korea, implementation of cashless
money methods, the electronic cash has been on
a steady rise since 2000. A good example is the
T-Money transport card. This is prepaid or postpaid electronic cash. It is very
popular transportation card, which is widely used throughout most parts of
Korea. In the future, its use will most likely to
be expanded if it becomes integrated T-Money. The
postpaid T-Money is a good example of M2M implementation, in which users now don’t
need to carry cash to travel. They can transfer the money from mobile phones to
the billing systems in the transport vehicles seamlessly. The transport card has
developed into a mobile payment system in recent years and has become
increasingly popular in Korea. This research paper, will focus on the design
and simulation of machine to machine using NFC-based payment model. This will
mainly target smartphone applications, which are more popular nowadays, not
only amongst the youth but all generations.
KEYWORDS
NFC payment, machine to machine (M2M), cashless money transfer, electronic cash, mobile money
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