mFerio: The Design and Evaluation of a Peer-to-Peer Mobile Payment System

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Executive Summary

In this paper, authors present the design and evaluation of a near-field communication-based mobile p2p payment application, called mFerio that is designed to replace cash-based transactions. Authors first identify design criteria that payment systems should satisfy and then explain how mFerio, relative to those criteria, improves on the limitations of cash-based systems. Authors next describe mFerio's implementation and user interface design, focusing on the balance between usability and security. Finally, authors present the results of a two-phase user study, involving a total of 104 people, that shows that mFerio has low cognitive load and is also fast, accurate, and easy to use - even outperforming cash in terms of speed and cognitive load in common payment situations.

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