A Safer Way to Pay - Comparing the Security & Integrity of 21st Century Payment Systems

Explore the security and privacy aspects of modern payment systems in this 43-minute conference talk from Security BSides London. Compare the risks and benefits of various payment methods, including PayPass/PayWave, EMV (Chip), Venmo, AliPay, ApplePay, Google Pay, and PayPal. Examine fraud statistics from Canada and the United Kingdom, and learn about EMV adoption and its impact on card-present and counterfeit fraud. Dive into the technical details of EMV, including initialization, offline data authentication, cardholder verification methods, and online PIN verification. Investigate the differences between card-based tap systems and mobile payment solutions like Apple Pay and Google Pay. Gain insights into the setup processes and security features of popular payment apps such as Venmo, Alipay, and WeChat Pay. Develop a better understanding of the evolving landscape of payment technologies and their implications for security and privacy in the 21st century.

Intro
By the numbers - Canada
By the numbers - United Kingdom
UK card present fraud
UK counterfeit fraud
EMV adoption in general
TLAs to the rescue
Beyond the stripe
How does EMV work? - Initialization
Offline data authentication
Cardholder Verification Methods
Online PIN verification
Risk management
How does EMV work? - Online
Card-based tap - MSD vs EMV
Apple Pay and Google Pay - Setup
Venmo
Alipay and WeChat Pay
Thoughts?