Abstract
While mobile money originated in Africa, its success has led to a spread around the world. This paper is the first to focus specifically on its uptake in the region of Australasia; we give a brief description of the current situation of mobile money usage in each of eight countries within this region. Despite the convenience of mobile money systems, their underlying technologies are susceptible to many threats associated with insecure Wi-Fi communication. We detail such threats and discuss possible countermeasures.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsReferences
Dharmapalan, J., Lonergan, N., Price, K., Pilorge, P.: Mobile Money: An Overview for Global Telecommunications Operators, 44 pages. Ernst & Young Global Ltd. (2009)
Coere, B., Walliser, J.: Payment aspects of financial inclusion. Consultative Report by the Committee on Payments and Market Infrastructures, World Bank Group. Published by the Bank for International Settlements and World Bank Group (2015)
Pascual, A., Moeser, M., Marchini, K.: Mobile Authentication in Small Business Banking, November 2015. https://www.javelinstrategy.com/coverage-area/mobile-authentication-small-business-banking
Rajan, M.S.S.: Replication of Financial Inclusion: Opportunities and Challenges – Indian Bank Experience. Publication of the Bank of India, 7 pages (2007)
Niyogi, A., Niyogi, S.: Mobile Money for Unbanked in India. Int. J. Finan. Policy Anal. 4(2), 26–35 (2012)
Bankable Frontier Associates (2010). Mobile Money Regulation in the Philippines, Paper presented to Seminar on Regulating Branchless Banking, Windsor, pp. 1–15. http://www.afiglobal.org/sites/default/files/mobile%20money%20regulation%20in%20the%20philippines.pdf. Retrieved July 2016
Flores-Roux, E., Mariscal, J.: The development of mobile money systems. Centro de Investigación y Docencia Económicas, División de Administración Pública (Centre for Economic Research and Teaching, Division of Public Administration), Number 256, 38 pages (2011)
Chatain, P.: Integrity in mobile phone financial services: measures for mitigating risks from money laundering and terrorist financing. No. 146. World Bank Publications (2008)
Miura, N., Hoshino, J., Hirose, J., Fukuzono, T.: Credit Services for the Osaifu-Keitai Mobile Payment System On Open OS Terminals. NTT DOCOMO Tech. J. 13(2), 43–48 (2011)
Chuen, D.L.K., Teo, E.G.: Emergence of FinTech and the LASIC principles. In ‘Who will disrupt the disruptors?’. J. Finan. Perspect. V1, 24–36 (2015)
FocusTaiwan: Electronic payment usage remains low in Taiwan: Visa Taiwan (update), June 2014. http://focustaiwan.tw/search/201406300017.aspx?q=cash%20payments%20
Mohammad, A.: The Development of E-Payments and Challenges in Malaysia. In the Development of E-payments and Challenges for Central Banks in the SEACEN Countries edited by Seng, V., Chap. 5, pp. 123–157. The SEACEN Centre (2008)
Lucese, B.: Connected Society: Consumer Barriers to mobile Internet adoption in Asia. Report produced by Global Mobile Communications Asia, 24 pages. http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2016/06/Consumer-Barriers-to-Mobile-Internet-Adoption-in-Asia.pdf
Reaves, B., Scaife, N., Bates, N., Traynor, P., Butler, K.: Mo(Bile) money, Mo(Bile) problems: analysis of branchless banking applications in the developing world. In: Proceedings of the 24th USENIX Security Symposium, Washington, DC, pp. 17–32. USENIX, August 2015
Moonsamy, V., Batten, L., Shore, M.: Can smartphone users turn off tracking service settings? In: Proceedings of International Conference on Advances in Mobile Computing & Multimedia, 9 pages. ACM (2013)
Rahulamathavan, Y., Moonsamy, V., Batten, L., Shunliang, S., Rajarajan, M.: An analysis of tracking settings in blackberry 10 and windows phone 8 smartphones. In: Susilo, W., Mu, Y. (eds.) ACISP 2014. LNCS, vol. 8544, pp. 430–437. Springer, Heidelberg (2014)
Batten, L.M., Moonsamy, V., Alazab, M.: Smartphone applications, malware and data theft. In: Senthilkumar, M., et al. (eds.) Computational Intelligence, Cyber Security and Computational Models. AISC, vol. 412, pp. 15–24. Springer, Singapore (2016)
Singh, M.: Raspberry Pi Mini Computers Vulnerable to Attacks, Company Acknowledges, December 2015. http://gadgets.ndtv.com/laptops/news/raspberry-pi-mini-computers-vulnerable-to-attacks-company-acknowledges-772661. Retrieved July 2016
Goodin, D.: Just-released Raspberry Pi 2 can be DoSed by bright flashes of light (2015). http://arstechnica.com/security/2015/02/just-released-raspberry-pi-2-can-be-dosed-by-bright-flashes-of-light/. Retrieved July 2016
Tung, L.: Hackers can bank on NFC (2012). http://www.smh.com.au/it-pro/security-it/hackers-can-bank-on-nfc-20120808-23tdt.html. Retrieved July 2016
Lake, A.J.: Risk management in Mobile Money: Observed risks and proposed mitigants for mobile money operators. Report of the International Finance Corporation, World Bank Group, 22 pages (2013)
Chatain, P., Zerzan, A., Noor, W., Dannaoui, N., de Koker, L.: Protecting Mobile Money against Financial Crimes. Publication of the World Bank, vol. 1(1), pp. 1–195 (2011). http://www.globalinitiative.net/download/financial-crime/global/World%20Bank%20-%20Protecting%20Mobile%20Money%20against%20Financial%20Crimes.pdf. Retrieved July 2016
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2016 Springer Nature Singapore Pte Ltd.
About this paper
Cite this paper
Parasa, S., Batten, L.M. (2016). Mobile Money in the Australasian Region - A Technical Security Perspective. In: Batten, L., Li, G. (eds) Applications and Techniques in Information Security. ATIS 2016. Communications in Computer and Information Science, vol 651. Springer, Singapore. https://doi.org/10.1007/978-981-10-2741-3_13
Download citation
DOI: https://doi.org/10.1007/978-981-10-2741-3_13
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-10-2740-6
Online ISBN: 978-981-10-2741-3
eBook Packages: Computer ScienceComputer Science (R0)