SECURE MOBILE PAYMENT USING MEDIA BINDING

摘要

A method for mobile payment includes generating, by a financial institution, a unique credential based on user access information and media binding information that is cryptographically bound to media using a unique media identification. The financial institution stores the credential and media binding information in the form of authentication code in a memory used by an electronic device. The stored credential and media binding information is accessed using the user access information for a payment transaction. A digital certificate is generated using the credential and media binding information. The digital certificate is presented to the financial institution for the payment transaction. The memory is authenticated and binding of the credential to the memory is verified prior to completing the payment transaction.