Exploring Data Elements in Mobile Payment Transactions

Publication Date: October 2024

Executive Summary

The U.S. Payments Forum white paper, “Exploring Data Elements in Mobile Payment Transactions,” reviews the increasingly complex landscape of mobile and online payments. The main focus is to provide detail on the expanded range of data elements that are available in digital transactions as compared to legacy systems, and to illustrate how these can be used for enhanced security, fraud prevention, and optimal user experiences. Key white paper insights include:

• Expanded data elements. Mobile transactions access data elements that are not available in traditional payments, including data relating to EMV 3-D Secure (3DS), geolocation, digital wallet behavior, and tokenization. The expanded data offers opportunities for a multifaceted approach to transaction security and user experience.
• Authentication and fraud prevention. The paper underscores the significance of additional data elements, like device fingerprinting and location data, for improving authentication methods and detecting fraudulent activities. Enhanced authentication using 3DS elements and biometrics is highlighted for its potential in strengthening transaction security.
• Data handling best practices. With the increase in available data, the paper describes best practices for handling personally identifiable information (PII), stressing the importance of compliance with Fair Information Practices Principles and relevant legal frameworks.
• Stakeholder implications. The implications for various stakeholders (issuers, mobile providers, payment networks, processors, and merchants) are considered. Emphasis is placed on the need for sophisticated data analysis tools and adherence to privacy and security standards.
• Future research and trends. The paper suggests opportunities for exploring additional data fields and payment technologies (e.g., EMVCo Secure Remote Commerce (SRC)) and the potential benefits of industry-wide cooperation in data sharing and management.

The white paper concludes that the expanded use of diverse data elements in mobile transactions offers significant opportunities for the payments industry. However, the use also brings challenges in terms of data privacy, regulatory compliance, and the balance of security with user convenience. The white paper highlights the transformative potential of mobile payment technologies and urges stakeholders to navigate this evolving landscape with a commitment to security, ethical data practices, and a forward-looking approach.

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