Cryptology ePrint Archive: Report 2020/1036

Security in banking

Arthur Van Der Merwe and David Paul and Jelena Schmalz and Timothy M. Schaerf

Abstract: We examine the security of the Australian card payment system by analysing existing cryptographic protocols. In this analysis, we examine TDES and DES-V key derivation and the use of secure cryptographic devices, then contrast this with alternative mechanisms to enable secure card payments. We compare current Australian cryptographic methods with their international counterparts, such as the ANSI methods, and then motivate alternative methods for authenticated encryption in card payment systems.

Category / Keywords: applications / AS 2805, authenticated encryption, financial encryption, TR-31

Date: received 27 Aug 2020

Contact author: avande22 at myune edu au

Available format(s): PDF | BibTeX Citation

Version: 20200828:160817 (All versions of this report)

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