Analyzing Mobile Payment Using Blockchain Security

One of the fundamental IoT innovations is Near-Field Communication (NFC) which has made mobile payments for various applications. As cryptocurrencies like Bitcoin transformed the design of payment methods, technological innovation has grown in popularity. Nevertheless, this system is vulnerable to security issues, 'man-in-the-middle attacks, double spending, and replay attacks,’ necessitating other approaches like blockchain technology. In this paper, the literature survey on the existing blockchain-based mobile payment systems is carried out to fully realize the possibility of mobile payment systems with the help of blockchain. Especially, the security-related issue in mobile payments using blockchain is investigated. Following that, some of the popular crypto-currencies, user experience, and message confidentiality are considered, and the existing works are categorized. Then, the crypto-currencies are categorized based on their advantages. The research gaps are further discussed. In the end, the given survey work is concluded with their future works.