Public Key based Virtual Credit Card Number Payment System for Efficient Authentication in Card Present Transaction

Financial fraud has been increasing along with credit card usag e. Magnetic stripe cards have vulnerabilities in that credit ca rd information is exposed in plaintext and cardholder verification is untrustworthy. So they have been replaced by a smart card scheme to provide enhanced security. Furthermore, the FinTech t hat combines the IT with Financi al product is being prevalent. For that reason, many mobile device based payment schemes have been proposed for card present transaction. In this paper, we propose a virtual credit card number payment scheme based on pu blic key system for efficient authentication in card present transaction. Our proposed scheme is able to authenticate effici ently in card present transaction by pre-registering virtual cr edit card number based on cardholder's public key without PKI. And w e compare and analyze our proposed scheme with EMV.Keywords: Card Present Transaction, Virtual Credit Card Number, Authenti cation, EMV, FinTech I.서 론 *