Globally, networks of automated teller machines, or ATMs, are utilized extensively for financial transactions. The ATM kiosks have been installed even at remote places to meet the purchase requirements of the user conveniently. The most common and widely used method to authenticate at an ATM kiosk is using the ATM card and its associated personal identification number (PIN). Despite its long history, this authentication method has numerous drawbacks including the requirement to carry an additional ATM card when using it, the challenge of securely printing and mailing the card to the customer, the susceptibility to ATM card skimming, etc. This research proposes a solution to authenticate in ATM networks, and the solution is built on near-field communication (NFC) and blockchain technologies. In addition to improving user-friendliness, the suggested technique tackles the drawbacks of ATM card along with PIN-based authentication across ATM networks. NFC is a useful option for sharing sensitive data because of its short communication range (usually less than 4 cm) between two NFC devices and cards. Blockchain is a promising technology for safely storing data and confirming transactions. The suggested approach uses the blockchain to store digital identities to perform two-factor authentication on system users. The security strength of the suggested system has been carefully investigated in this study.

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ATM Transactions Made Safer Using NFC and Blockchain

  • Divyans Mahansaria,
  • Uttam Kumar Roy

摘要

Globally, networks of automated teller machines, or ATMs, are utilized extensively for financial transactions. The ATM kiosks have been installed even at remote places to meet the purchase requirements of the user conveniently. The most common and widely used method to authenticate at an ATM kiosk is using the ATM card and its associated personal identification number (PIN). Despite its long history, this authentication method has numerous drawbacks including the requirement to carry an additional ATM card when using it, the challenge of securely printing and mailing the card to the customer, the susceptibility to ATM card skimming, etc. This research proposes a solution to authenticate in ATM networks, and the solution is built on near-field communication (NFC) and blockchain technologies. In addition to improving user-friendliness, the suggested technique tackles the drawbacks of ATM card along with PIN-based authentication across ATM networks. NFC is a useful option for sharing sensitive data because of its short communication range (usually less than 4 cm) between two NFC devices and cards. Blockchain is a promising technology for safely storing data and confirming transactions. The suggested approach uses the blockchain to store digital identities to perform two-factor authentication on system users. The security strength of the suggested system has been carefully investigated in this study.