A Security Assessment of HCE-NFC Enabled E-Wallet Banking Android Apps

E-wallets have started to grow in popularity, reaching a tipping point in some countries. This can be attributed to the worldwide use of payment-enabled devices and ubiquity of e-wallet acceptance by larger and smaller retailers. As more customers adopt e-wallets they may also become a big target of cybercrime. E-wallets facilitates financial transactions via smartphones which is a lucrative opportunity for cybercriminals. This paper presents a security assessment of the Android e-wallet apps provided by the Canada's leading banks.