International Journal of Computer Applications
Wallet may be described as container application used for configuring, accessing and analyzing data from underlying payment application(s). There are two dominant types of digital wallet applications, proximity wallet and remote wallet. In the payment industry, one often hears about authentication approach for proximity or remote wallets or the underlying payment applications separately, but there is no such approach, as per their knowledge, for combined wallet, the holder application. While Secure Element (SE) controlled by the mobile network operator (i.e., SIM card) may ensure strong authentication, it introduces strong dependencies among business partners in payments and hence is not getting fraction.