NFC performance in mobile payment service compared with a SMS -based solution

Mobile payment is a term used to describe a process of financial transaction made between two parties through a mobile device. One party is a customer and the other party is a merchant or service provider. This method of payment offers a great deal of convenience and ease to customers, especially when the use of mobile phones is widely increasing across the globe. Purchase transactions are conducted by mobile phones through various wireless networks. Each network has its own benefits and disadvantages. However, the most widely used are mobile networks, Bluetooth and NFC. In recent years, NFC has appeared as a new technology that carries among its features the majority of the benefits of other wireless networks used in M-payment. Therefore, the study compared NFC with other similar technologies such as SMS and Bluetooth. As a result, in order to obtain a high level of mobile payment security, it must achieve security requirements such as confidentiality, integrity, non-repudiation and authentication. On the other hand, NFC, compared with SMS technology, is faster and more convenience.