Smart cards have been used for many different purposes over the last two decades, from simple prepaid credit counter cards used in parking meters, to high security identity cards intended for national ID programs. This has increased data privacy and security requirements. Data protection and authentication is now demanded for performing Electronic payment and allow secure multi-level access to private information. ECC uses smaller key sizes compared to traditionally used RSA based cryptosystems. Elliptic Curve Cryptography is especially suited to smart card based message authentication because of its smaller memory and computational power requirements than public key cryptosystems. It is observed that the performance of ECC based approach is significantly better than RSA and DSA/DH based approaches because of the low memory and computational requirements, smaller key size, low power and timing consumptions.