Mobile Banking and its Security

Abstract: The most of the people are using in Mobile Banking option. It is the easy way to transacting the amount. We can easily download this application on our Smartphone and we should access in this mobile banking option. If we want access the mobile banking, the security was very important think. So there are variety of securities are available like NFC security, QR security and etc. As millions of dollars have been exhausted on building mobile banking systems, reports show that potential users may not be using the systems, despite their availability, as they are not aware its benefits, uses and how they should depend and trusted it. This manuscript investigate the differences between using Smartphone as a platform for authentication, using near field communication (NFC) and other applications in banking processes as well as security of each [16]. Mobile banking is attractive because it is a convenient approach to perform remote banking, but there are security shortfalls in the present mobile banking implementations [17]. Keywords: Mobile Banking, Smartphone, NFC, Remote Banking, Security, Protocol