Automated Compliance of Mobile Wallet Payments for Cloud Services

Abstract

Mobile payments are on the rise, and as their popularity is emerging, providers must adhere to security regulations to ensure consumer confidence. There is currently no single regulation specific to mobile wallets, so existing banking transactions are used to secure mobile payment transactions. These financial regulations are large textual documents and require significant manual effort to comprehend and ensure compliance adherence. Thus, it is difficult for both the consumers and providers to understand which specific rules in these regulations apply to their mobile wallet transactions. We have created an integrated knowledge representation of the four main banking regulations that apply to mobile payment Electronic Funds Transfer Act (EFTA), Truth in Lending Act (TILA), Gramm-Leach-Bliley Act (GLBA), and Payment Card Industry Data Security Standards (PCI-DSS). In this paper, we present our framework in detail along with the qualitative and quantitative measures that were used to validate the design against the policies of six major vendors that deal with mobile payments. Our integrated mobile payment knowledge graph, which is available in the public domain, can be used by practitioners to automate mobile wallet transaction compliance in their organization.