Business Transaction Privacy and Security Issues in Near Field Communication

Abstract

The main objective of this chapter is to discuss various security threats and solution in business transactions. The basic working principle and theoretical background of near field communication (NFC) technology is discussed. A component of NFC communication section is to be discussed on various NFC operation modes and RFID tags. NFC technology is used in various fields such as electronic toll collection and e-payment collection for shopping. This device-to-device payment system is facing major security issues. This NFC communication data is transferred from one terminal to another terminal by using short-range radio frequency. Data hackers try to access this radio frequency and attack the business transaction. This hybrid encryption algorithm is used to solve business transaction data security issues. This chapter deals with both key encryption and data encryption processes.