Comments on: Reserve Bank of India halts mobile payments #risk http://specialbrands.net/2008/07/26/reserve-bank-of-india-halts-mobile-payments-risk/ blaze your trail Fri, 23 Jul 2010 15:54:29 +0000 hourly 1 http://wordpress.com/ By: » Reserve Bank of India halts mobile payments #risk http://specialbrands.net/2008/07/26/reserve-bank-of-india-halts-mobile-payments-risk/#comment-240 » Reserve Bank of India halts mobile payments #risk Sat, 26 Jul 2008 18:49:05 +0000 http://webhat.wordpress.com/?p=364#comment-240 [...] mypheddadena wrote an interesting post today onHere’s a quick excerptI mentioned the insecurity of mobile payment systems before in Rabobank has insecure SMS banking. Apparently the RBI has the same reservations I do. In the article RBI puts a temporary halt on Mobile Payment Services explains. They haven’t stopped regular services such as requesting bank balance, but they have halted signing off on permitting projects to go life until the final guidelines have been issued, micropayments and larger transactions. From the draft guidelines: It is suggested that the banks issue a new mobile pin (mPIN). […] Banks and the various service providers involved in the m-banking should comply with the following security principles and practices with respect to mPIN : […] Protect the mPIN using end to end encryption [...] [...] mypheddadena wrote an interesting post today onHere’s a quick excerptI mentioned the insecurity of mobile payment systems before in Rabobank has insecure SMS banking. Apparently the RBI has the same reservations I do. In the article RBI puts a temporary halt on Mobile Payment Services explains. They haven’t stopped regular services such as requesting bank balance, but they have halted signing off on permitting projects to go life until the final guidelines have been issued, micropayments and larger transactions. From the draft guidelines: It is suggested that the banks issue a new mobile pin (mPIN). […] Banks and the various service providers involved in the m-banking should comply with the following security principles and practices with respect to mPIN : […] Protect the mPIN using end to end encryption [...]

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