Mobile Payment Security: A case study of Digital Wallet MOMO
TRAN, THI MY ANH (2020)
TRAN, THI MY ANH
2020
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202005118281
https://urn.fi/URN:NBN:fi:amk-202005118281
Tiivistelmä
The objective of the thesis was to conduct a security testing on MOMO, the most popular
digital wallet in Vietnam. The goal was to determine the efficiency of security technologies that are applied by MOMO.
In order to investigate the problem, theoretical research and studies were made based on
the working and security principles of mobile payment and e-wallet. The thesis also aimed to broaden knowledge and provide deep understanding of mobile payment. This study explored (i) different types of mobile payment in terms of technology, advantages and disadvantages, (ii) the benefits and drawbacks of mobile payment in comparison to
traditional payment, (iii) the threat model associated with all stakeholders involved in the
mobile payment, (iv) security measures towards each stakeholder, and (v) security testing
in MOMO e-wallet with OWASP Top 10 as the primary guideline.
Quantitative research methods alongside the experiments were used to identify the security threats that are considered as vulnerabilities in mobile payment. The primary data were collected to get familiar with the target (MOMO) and perform the security evaluation in practice. The analysis was done for each security risk with a separate framework to be
used. Based upon the summary of the security test result, the identified factors were
considered as certain suitable lessons learned to improve m-commerce in the future.
Research findings highlighted the diverse and constant development of mobile payment.
The study examined the security mechanism of MOMO and verified the security system.
The thesis contributes to a better understanding of mobile payment and digital wallet
security. The study can be a reference for further mobile payment Security study and
MOMO security enhancement.
digital wallet in Vietnam. The goal was to determine the efficiency of security technologies that are applied by MOMO.
In order to investigate the problem, theoretical research and studies were made based on
the working and security principles of mobile payment and e-wallet. The thesis also aimed to broaden knowledge and provide deep understanding of mobile payment. This study explored (i) different types of mobile payment in terms of technology, advantages and disadvantages, (ii) the benefits and drawbacks of mobile payment in comparison to
traditional payment, (iii) the threat model associated with all stakeholders involved in the
mobile payment, (iv) security measures towards each stakeholder, and (v) security testing
in MOMO e-wallet with OWASP Top 10 as the primary guideline.
Quantitative research methods alongside the experiments were used to identify the security threats that are considered as vulnerabilities in mobile payment. The primary data were collected to get familiar with the target (MOMO) and perform the security evaluation in practice. The analysis was done for each security risk with a separate framework to be
used. Based upon the summary of the security test result, the identified factors were
considered as certain suitable lessons learned to improve m-commerce in the future.
Research findings highlighted the diverse and constant development of mobile payment.
The study examined the security mechanism of MOMO and verified the security system.
The thesis contributes to a better understanding of mobile payment and digital wallet
security. The study can be a reference for further mobile payment Security study and
MOMO security enhancement.