A Layered Approach to Fraud Analytics for NFC-Enabled Mobile Payment System
Near Field Communication is the technology that will remain widespread in continual with the growth of smart phone influx [1, 10, 12, 15]. Moreover, people use smart phone’s to imperforate their mobile banking activities which in turn results in fraudulent activities. The fast growing use of electronic payments has increased the demand for emphatic, decisive and real time based method for fraud detection and prevention. To prevent fraudulent transaction a layered approach for NFC-enabled mobile payment system is proposed. The layered approach for fraud analytic will provide a solution based on transaction risk-modeling, business rule-based, and cross-field referencing.
KeywordsNear Field Communication Mobile payment Fraud analytics
The authors thank our colleagues from K L University who provided knowledge and encouragement that eminently assisted the research carried by us.
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