Mobile wireless transactions: a framework for secure funds transfer services

Abstract

One of the recent developments in mobile wireless applications is the introduction of mobile commerce using mobile devices such as PDAs, cellular phones and notebook pes. Some of the applications of mobile commerce include Funds Transfer, m-banking, rnbilling and m-shopping, The main driving force for the rapid acceptance of mobile devices in business sector is their capability to provide or get services at any time and any place where there is network coverage. Moreover rn-cornrnerce has proved to be a cheaper and efficient alternative to costly traditional commercial services particularly in developing countries such as Kenya. However as the popularity of these services mcrease, there is great concern on loss of confidential data transmitted over the insecure wireless network. In this research, we analyzed existing frameworks for secure mobile funds transfer services in order to adopt or propose a suitable framework that will be used as a guide for deployment and assessment of mobile wireless money transfer services. The three core areas that guided our research are:• Transmission security for electronic money (e-rnoney) in cellular wireless networks. • Security in SIM-based mobile money transfer applications. • Policies and regulatory framework governing mobile money transfer services. To validate the framework, the research methodology employed in this research was mainly survey. Through stratified random sampling on clustered regions, our sample was drawn from mobile money transfer subscribers, dealers/agents of Safaricom's M-Pesa and Zain's Zap mobile money transfer services and the two service providers i.e. Safari com and Zaino The outcome of our research findings is a validated framework that will serve as a blue print for the deployment and assessment of m-payment services in the developing countries where approximately 80% are unbanked.