NFC mobile payments standards?

Question

I understand how NFC is supposed to work on a high level, and a bit about the protocols used. Now, I need to understand, with your help, if there are any standards related to mobile payments.

From a trusted service manager perpective, I believe there are no standards at all and that both the machine on the point of sale and the app on the mobile device would have to be custom made correct?

If no such standards exist yet, can I assume it can be as "simple" as:

• On contact the machine creates a checkout receipt and sends it to the device (this would have to be done with customized hardware)
• The device receives the receipt and uses the UICC to authenticate itself with the bank/TSM
• The bank, upon validation, signs the receipt which is forwarded to the machine by the device

Am I getting this right? If there are any technical bits I'm missing, please refer them so I can research.

Thanks

Answer 1

sure there are standards - see EMV (Europay, Mastercard, Visa). It is necessary for world wide interoperability of the payments systems, which uses the chip (aka secure element), no matter they are contact or contactless (i.e. NFC).

EMV specifies used hardware, protocols, file structures and used commands, data authentication, PIN ciphering, key management. It is pretty complicated.

I think you can start here: http://en.wikipedia.org/wiki/EMV

Regards,
STeN
www.mautilus.com