A Decentralized Data Privacy for Mobile Payment using Blockchain Technology

Abstract

Mobile payments today have become the most preferred method of transaction for an increasing number of customers. To provide robust security mechanism for mobile payment in public network is challenging task for device manufacturing companies and network service companies. Most of the mobile payment apps make payment easy and fast, but users have to face new security challenges. Because users have to do payment transaction in an open network this makes users sensitive data put at risk, where advisories launch attack and theft of user’s identity information. Resent payment apps like Google-pay and phone-pay successfully address the security issues, but these apps might suffer from internal attacks, because data is centralized where apps should accept permission from bank server to do the transaction. In the proposed system we introduce a protected transaction pattern using blockchain technology which overcomes the limitation from the existing system. Our money transformed in the form of cryptocurrencies and it stored in the separate wallet. The particular wallet is installed in the mobile devices. Payment or transaction through two consumers lacking any prior permission. The proposed System uses decentralized data server to preserve data privacy from adversaries. While transaction we directly transfer through the blockchain wallet without any interference from the Bank. The proposed system proven to be secure and efficient for online payment transaction. It secured from cyber attackers or intruders hence data can be stored in separate blocks and its difficult to find out exact data. This overcomes the negative aspect of usual mobile payments.