While the government is pushing the customers to use digital wallets during demonetization, but Qualcomm, the chipset maker said that digital wallets are also not secure. In India, digital wallets are found to be not so secure (not using a hardware level of security) for online transactions.
“Surprisingly, most of the mobile payment apps are not using a hardware level of security. Instead, they use Android mode where the user’s password can be easily stolen. Even the user fingerprint might be captured”, Qualcomm senior director, product management Sayeed Choudhury told reporters.
He said that even the famous digital wallets are not using the hardware level of security.
Choudhury says, “Reason behind by not using them, as we work with OEMs (online equipment maker)”.
A per the research market, Qualcomm leads the mobile chipset market globally with 37 percent of shares.
Choudhury mentioned that each of us is using the app and getting ready for demonetization. How will you know that this app is having hardware security or not when downloaded?
Mr. Sayeed said that Qualcomm is approaching the digital wallets market regarding the security behind by using it. There should be a secure environment for the online transactions.
There is a layer that separates the transactions on the mobile phone and OS; it will tell you any malware affecting your transactions.
It was heard that Qualcomm is coming with new features in its mobile chipsets from 2017 to verify the user’s payment using features like device id, phone manufacturer signature, Android version of the phone, rootkit of the operating system, location and time. Of course, because of the presence of these features, it’s impossible to decode.
Device attestation will be available for shipping from 2017. At the end of the year, end users are going to get the profit.
There will also be an alert alarm, in case, user’s phone gets affected by some viruses.
Lastly, Choudhury launched the Indian Aadhaar authentication system. After all, the Indian government is going digital wallets with Aadhaar.