Design of Secure Mobile Payment System Based on IBC

In this paper, we analysis the security problem in mobile payment system. Based on Identity-Based Cryptography (IBC) which has simpler framework and lower cost, we present a secure mobile payment system to ensure the security and privacy of the transferred data. The algorithms of IBC are implemented in WIS08SD548E which can provide many national arithmetic functions to ensure data security in mobile terminal. Also, we discuss the trading process and analyze the security of the solution in payment transaction.