Hackers will certainly start targeting mobile banking!!!

The bottom line is that where money is migrating into mobile the fraud, hacking, and mobile identity theft is migrating too!!! As the mobile security industry is taking shape there are many choices to choose from with regard to mobile payment transaction protection.

I can’t vouch for all mobile payment providers, but at Mobicash (http://www.mobicashonline.com) we focus on a level of optimal mobile payment security to fit each unique transaction. Actually we have done some great work and we seems to have a what seems very secure (bank grade) mobile payment platform.

Transactions are securely signed with NSDT™ a technology that sends “cryptosounds” through the phone’s audio channel to enable contact-less mobile payment. NSDT™ technology provides a very high level of security and protects user privacy; it is uniquely suited to the retail context. In many sites of mobile financial service deployment, NSDT™ is needed to expand the contexts in which mobile payment is feasible and secure.

NSDT™ (Near Sound Data Transfer), transmits an electronic signature, one time password, and cryptographic key to secure electronic transactions and provide strong authentication services. NSDT™ uses the audio channel and security features of any cell phone. As a result, no software downloads or hardware modifications are required. An Encrypted Sound is emitted every second containing: transaction data, a certificate, a one-time password, an indentifier, a transaction number and an electronic signature. OTPs are only valid for 1 transaction and have a very short life span, making them useless if intercepted and replayed.

NSDT™ transforms any cell phone into a secure payment or authentication tool and is immediately compatible with all existing cell phones worldwide, whatever the manufacturer and whatever the network, without any hardware phone modification or software download. This solution is 100% mobile network agnostic and can work on any cell phone model.