Using EMV Smartcards for Internet Payments

Existing smartcards developed for point-ofsale payments are being considered for use in Internet transactions. Such use provides an alternative to designing new smartcard solutions supporting protocols more specifically designed for Internet payments, such as SET ([9]). In this paper, we analyze EMV’96 [7], a representative example of an existing payment smartcard specification. We investigate the security of possible Internet payment systems based on EMV, and suggest modifications that can enhance the security of an Internet payment scheme based on EMV