A Dynamic Passcode System for Mobile Purchasing without Bank Card
Yong-Zhang Luo, Zheng Cheng, Chenglian Liu, Zhao Biying · 2018
Credit cards use a security system where the personal identification number (PIN) is a constant. This presents a security vulnerability as this gives the attacker more time to find the PIN and defraud the bank. We will propose a scheme that is based on a security code that is dynamic, that is, the code will change every time the mobile device is used for a purchase. This system will not require more hardware, but rather, a few more lines of software. We believe that both consumers and banks will welcome the new system because it will eliminate the expense of a bank card by becoming a smart phone application. We also think that the increase in security from the software will greatly outweigh the extra cost of the software required for the system.