E Wallet

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International Journal of UbiComp (IJU), Vol.1, No.4, October 2010

MOBILE BASED SECURE DIGITAL WALLET FOR PEER TO PEER PAYMENT SYSTEM Majid Taghiloo1, Mohammad Ali Agheli 2, and Mohammad Reza Rezaeinezhad3 1

Amnafzar Department of Pishgaman Kavir Yazd, Tehran, Iran
mtaghiloo@amnafzar.net
2

Amnafzar Department of Pishgaman Kavir Yazd, Yazd, Iran
agheli@amnafzar.net
3

Pishgaman Kavir Yazd, Yazd, Iran
rezaei@pishgaman.com

ABSTRACT
E-commerce in today's conditions has the highest dependence on network infrastructure of banking. However, when the possibility of communicating with the Banking network is not provided, business activities will suffer. This paper proposes a new approach of digital wallet based on mobile devices without the need to exchange physical money or communicate with banking network. A digital wallet is a software component that allows a user to make an electronic payment in cash (such as a credit card or a digital coin), and hides the low-level details of executing the payment protocol that is used to make the payment. The main features of proposed architecture are secure awareness, fault tolerance, and infrastructure-less protocol.

KEYWORDS
Wireless Network, Mobile Network, Digital Wallet, E- Payment System, Peer to Peer Communication & Security

1. INTRODUCTION
A digital wallet allows users to make electronic commercial transactions swiftly and securely. It functions much like a physical wallet. A digital wallet has both a software and information component. The software provides security and encryption for personal information and for the actual transaction. Typically, digital wallets are stored on the client-side and are easily compatible with most e-commerce transactions. A server-side digital wallet, known as thin wallet, is the one that an organization creates for you and maintains on its servers. The information component is basically a database of user inputted information. This information consists of your shipping address, billing address, and other information. This concept provides a means by which customers may order products and services online without ever entering sensitive information and submitting it via wireless communication, where it is vulnerable to theft by hackers and other cyber-criminals. The simplicity of financial transactions for every society is very important. In traditional methods, business will be done by exchanging physical money. Disadvantages of this method are quite evident. Besides transmission of diseases, the physical security challenges of this method are undeniable. Technology improvement and expansion of communications networks have been thriving e-commerce affairs.

DOI : 10.5121/iju.2010.1401

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International Journal of UbiComp (IJU), Vol.1, No.4, October 2010 o

In order to solve these kinds of problems, various banks have developed smart card and ATM banks system thay can withdraw money from business transactions. In this method, communication infrastructure is necessary for financial exchange. In many cases, because of communication failures, users notice the error " "unable to connect to central server" on ATM display monitor. Communication infrastructure defects should not make challenge for customers and availability of banking service is a very important parameter, in this respect. parameter Hence, creating an independent method from infrastructure in order to exchange cash is very important. That way, the money of the customer should be kept virtually. A solution would be to replace the physical wallet with a digital wallet integrated into an existing mobile device like a cell phone. When the customer needs to perform financial transaction, the value of the stored one. virtual money should be updated. Digital money can be placed on hardware chip or stored as software data. Each of these methods has its own advantages and disadvantages. Creating independent chip or a dedicated embedded system for e-wallet will be...
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