How Important is Security Authentication in the Mobile Payment System

Mobile payment (M-Payment) is a means of non-cash payment using a smartphone device that utilizes various wireless technology media such as QR codes, NFC, and OTP codes. This mobile-based payment model is a payment method that offers convenience, efficiency, effectiveness, compatibility, and convenience. However, mobile payments come with significant risks, considering they are electronic and wireless. Therefore, authentication is required in payments. Even though the technological requirements for secure mobile payments have been met according to standards, there are still security gaps that unauthorized persons can penetrate. Therefore, this paper proposes an anonymous authentication and management flow for mobile payments to support transaction security, prevent user information disclosure, and reduce identity theft. The use of transaction keys, encryption and decryption, and matching to process user personal information based on the authentication operator's mobile equipment using an asymmetric algorithm is deemed appropriate.