Electronic Payment System

With advancement in the use of information technology seen as a key factor in economic development, developed countries are increasingly reviewing traditional systems, in various sectors such as education, health, transport and finance, and identifying how they may be improved or replaced with automated systems. In this study, the authors examine the role of technology trust in the acceptance of mobile banking in Nigeria as the country attempts to transition into a cashless economy. For Nigeria, like many other countries, its economic growth is linked, at least in part, to its improvement in information technology infrastructure, as well as establishing secure, convenient and reliable payments systems. Utilising the Technology Acceptance Model, this study investigates causal relationships between technology trust and other factors influencing user's intention to adopt technology; focusing on the impact of seven factors contributing to technology trust. Data from 1725 respondents was analysed using confirmatory factor analysis and the results showed that confidentiality, integrity, authentication, access control, best business practices and non-repudiation significantly influenced technology trust. Technology trust showed a direct significant influence on perceived ease of use and usefulness, a direct influence on intention to use as well as an indirect influence on intention to use through its impact on perceived usefulness and perceived ease of use. Furthermore, perceived ease of use and perceived usefulness showed significant influence on consumer's intention to adopt the technology. With mobile banking being a key driver of Nigeria's cashless economy goals, this study provides quantitative knowledge regarding technology trust and adoption behaviour in Nigeria as well as significant insight on areas where policy makers and mobile banking vendors can focus strategies engineered to improve trust in mobile banking and increase user adoption of their technology.

This paper describes our experience with implementing an electronic payment system for the PalmPilot. Although Palm OS lacks support for many desired security features, we are able to build a system suitable for small payments. We discuss the advantages and disadvantages of using a PDA to make secure payments as opposed to using a smartcard or a desktop PC. In addition, we describe the engineering of PDA-PayWord, our implementation of a commerce protocol that takes advantage of both elliptic curve and RSA public key cryptography to support payments efficiently on PDAs with limited processing capability.

This paper discusses the design, implementation and deployment of a secure and practical payment system for electronic commerce on the Internet. The system is based on the iKP family of protocols -i = 1, 2, 3 -developed at IBM Research. The protocols implement credit cardbased transactions between buyers and merchants while the existing financial network is used for payment clearing and authorization. The protocols are extensible and can be readily applied to other account-based payment models, such as debit cards. They are based on careful and minimal use of public-key cryptography and can be implemented in either software or hardware. Individual protocols differ in both complexity and degree of security. In addition to being both a pre-cursor and a direct ancestor of the well-known SET standard, iKP-based payment systems have been in continuous operation on the Internet since mid-1996. This longevity -as well as the security and relative simplicity of the underlying mechanisms -make the iKP experience unique. For this reason, this paper also reports on, and addresses, a number of practical issues arising in the course of implementation and real-world deployment of a secure payment system.

Cryptocurrencies based on blockchain infrastructures have shown their advantages such as double-spending
resistance and decentralization. Each transaction of cryptocurrency requires a certain amount of computation and
attracts transaction fees. Often, in practice, many transactions are small; therefore, they add computation and
transmission overheads to the system. In this paper, we introduce a cost-saving approach, which significantly
reduces transaction time and storage for small amount of payment, i.e. micropayment. Micropayment means the
value of transaction is small, i.e., payment worths a few pennies. To achieve instant micropayments, Hearn and
Spilman introduced a notion of payment channel. In this paper, we formally discuss the robustness requirements
of a scheme that is suitable for micropayments, consider the explicit value of penalty and user privacy leakage.
More precisely, we propose a micropayments scheme for decentralized blockchain-based payment system based on
the notion of payment channel, which enables a payee to receive funds at several unsynchronized points of sale and
penalize the double-spenders, with instant confirmation. In our approach, with the notion of ‘transaction
commitment’, the computation of each transaction is much more efficient. Therefore, our approach has advantages
in comparison of other cryptocurrency systems such as the bitcoin system. Our approach can be applied to other
existing cryptocurrency systems.

Electronic payment systems are increasingly in need of improvement as they constitute the base for electronic commerce which is rapidly dominating much trade and particularly retail. One such system that allows payments of low value is known as micropayment system the main requirement for which is naturally 'low cost of transaction'. Payword is a micropayment system which uses hash chains and achieves better computational performance. It is a creditbased protocol involving a customer, vendor and broker. However, in this system users have to generate a new payword chain for each vendor from which they make a purchase and also their payment process is not anonymous. MVPayword was an extension to Payword which enables the user to make purchases from different vendors using only one hash chain. In this paper we shall introduce AMVPayword which is an extension to MVPayword and provides anonymity for customers. So users can be sure about the protection of their privacy in payment system.

Internet fraudulent activities are increasing dramatically in the availability of technology resources like telecommunication networks, mobile communications, and E-commerce. Fraud is a major problem in electronic payment systems. With this increased availability has come a new form of criminal activity that takes advantage of electronic payment system, namely cybercrime, mobile-crime, SIM-crime and computer fraud. Currently, these new forms of crime are burgeoning and pose a new and challenges to researchers,merchant, customers and the law enforcement agencies. In this paper we discus types of electronic payment, we propose an effective method of detecting and preventing unauthorized cybercriminals from gaining access to several devices and technologies used in electronics payment by using Hidden Markov Model, also we take care not to prevent genuine transaction not to be rejected.

This case presents a set of technical issues confronting the United States Treasury eCheck Pilot Project team in January 2000. The team, which included representatives from the U.S. Treasury, the Federal Reserve Bank of Boston, Fleet Boston, Bank of America, and several hardware and software vendors, was testing a new Internet-based payment mechanism (eCheck). The system had already been tested for a year and a half with the participation of the two commercial banks (Fleet Boston, Bank of America), but this portion of the pilot was now coming to an end. During the first phase of the project, several key design choices had been made, including the use of smart cards to hold digital certificates, and specification of the information flows among the participants (payer, payee, payer bank, payee bank). Now, the system would need to be modified so that the U.S. Treasury could continue to make eCheck payments to a few defense contractors, with the help of the Federal Reserve Bank of Boston. Two new designs are presented for evaluation.

The)recent)developments)of)Information)and)Communication)Technologies)mainly)the) internet)has)made)citizens)accustomed)to)the)convenience)of)online)services)such)as)eT banking) and) shopping) online.) Governments) are) aware) of) the) benefits) and) needs) of) citizens) thus) leading) to) the) development) of) eTgovernment.) The) aim) of) this) paper) is) to) review)the)current)state)of)eTgovernment)in)Australia)with)the)use)of)empirical)studies.) The) review) of) eTgovernment) shows) that) the) general) use) of) eTgovernment) services) has) been) increasing) over) the) years) and) the) internet) has) become) the) preferred) method) of) contacting)the)government.)

This paper discusses the importance of a unique digital certificate for the world wide use of public-key infrastructure and the impact such a unique digital certificate will have on the players. First, the basic concepts of public-key infrastructure are presented. Special interest is put on the concepts important for the use of identity-based digital certificates. Then, an overview of the Austrian situation in the international context is given and the key factors for the success of digital certificates are presented.

This paper discusses the importance of a unique digital certificate for the world wide use of public-key infra- structure and the impact such a unique digital certificate will have on the players. First, the basic concepts of pub- lic-key infrastructure are presented. Special interest is put on the concepts important for the use of identity-based digital certificates. Then, an overview

Presently, E‐commerce has developed rapidly as a result of many services and applications integrating e‐commerce technologies offered online. Buyers can buy goods online and sellers can then deliver the goods to them. Logistics therefore plays an important role in online e‐commerce applications, with a focus on rapid delivery, the integrity of goods, and the privacy of personal information. Previous studies have proposed secure mechanisms for the transfer of electronic cash and digital content, in which only the sender and the receiver know the secret information hidden in the signature. However, they did not consider requirements such as the anonymous and lightweight verification in the logistics architecture. Therefore, this study designs a secure logistics system, with anonymous and lightweight verification, in order to meet the following requirements: Mutual authentication, non‐repudiation, anonymity, integrity and a low overhead for the logistics environment. A buyer could chec...

Presently, E-commerce has developed rapidly as a result of many services and applications integrating e-commerce technologies offered online. Buyers can buy goods online and sellers can then deliver the goods to them. Logistics therefore plays an important role in online e-commerce applications, with a focus on rapid delivery, the integrity of goods, and the privacy of personal information. Previous studies have proposed secure mechanisms for the transfer of electronic cash and digital content, in which only the sender and the receiver know the secret information hidden in the signature. However, they did not consider requirements such as the anonymous and lightweight verification in the logistics architecture. Therefore, this study designs a secure logistics system, with anonymous and lightweight verification, in order to meet the following requirements: Mutual authentication, non-repudiation, anonymity, integrity and a low overhead for the logistics environment. A buyer could check the goods and know if the parcel has been exchanged by a malicious person. Moreover, the proposed scheme not only presents a solution to meet the logistics system's requirements, but also to reduce both computational and communication costs.

The standard way of visualising protocols using pictures with boxes and arrows is insu cient to study the protocols in detail. The problem is that the structuring of the protocols relies on elements not explicit in the usual visual rendering. To solve the problem one should visualise not only the operations and the messages but also the state and the security. This paper presents a system which can be used to visualise a protocol, and is applied to some of the protocols in the load purse transaction of the CEN Inter-sector electronic purse draft standard as an example. The resulting conformant prototype provides abstract and concrete views on the system at all signi cant levels. The prototype supports animation of the standard, giving the protocol designer feedback on design decisions.

Electronic cash (or e-cash) is an electronic payment solution that is usually viewed as an attempt to emulate electronically the main characteristics of regular cash. In particular, e-cash and other payment solutions should protect the privacy of users during a purchase. The main distinction of e-cash with respect to other electronic payment systems is that electronic coins are stored on a device controlled by the user, e.g. a smart card or a personal computer hard disk. Since the introduction by Chaum [10,11] of unconditionally untraceable electronic money, ecash systems have been extensively studied. Recent work has mainly focused on the efficiency of the protocols with respect to several notions of anonymity. In this talk, we will review the main recent results and also discuss the possibility to transfer a coin without involving the bank which is considered as an important characteristic of regular cash.

This paper presents an off-line divisible e-cash scheme where a user can withdraw a divisible coin of monetary value 2 L that he can parceled and spend anonymously and unlinkably. We present the construction of a security tag that allows to protect the anonymity of honest users and to revoke anonymity only in case of cheat for protocols based on a binary tree structure without using a trusted third party. This is the first divisible e-cash scheme that provides both full unlinkability and anonymity without requiring a trusted third party.

Developing Countries are gradually transiting from cash to an electronic based economy by virtue of cashless policy implementation. With this development, cyber criminals and hackers who hitherto attacked businesses and individuals across the Atlantic now see this development as a new venture for their criminal acts and are thus redirecting their energies towards exploiting possible loopholes in the electronic payment system in order to perpetuate fraud. In this paper, we proposed an enhanced approach to detecting phishing attempts and preventing unauthorized online banking withdrawal and transfer. We employed the use of Semantics Content Analysis, Earth Mover Distance and Biometric Authentication with finger print to construct a model. We demonstrated the efficacy of the implemented model with the experiments conducted, a good and considerable result was achieved.

representations of value were introduced. A corresponding progression of value transfer systems, starting from barter, through bank notes, payment orders, checque and later credit cards, has culminated in electronic payment systems. Ghana payment system has been predominantly cash-based. With the rapid growth of Information and Communication Technology (ICT),E-commerce is now acting as a means of carrying out business transactions through electronic means such as the Internet. E-commerce is the most recent step in the evolution of business transactions as it replaces or augments the swapping of money or goods with the exchange of payment, financial service kiosks, biometric payments, electronic payments networks etc and as technology develops, the range of devices and processes to transact electronically continues to increases while the percentage of cash and cheque transactions continue to decrease. As electronic payment systems have rapidly spring up as a means of business transac...

During the electronic business, the clients and the merchants make use of the internet. Thus, we can say that the internet, the client, and the merchant are the components for the electronic business. The Electronic Business involves various categories of businesses. These various types of e-businesses have different types of security requirements to keep the businesses secure. The threats to these types of businesses prohibit people from believing on them. Except highly educated, people often do not take much interest in believing much on the services provided by e-businesses because of the problems of security in doing these types of businesses. We are proposing here a framework that can be implemented on various categories of e-business so that it can be trusted by most of the people. The framework can be used to define the possibilities of threats for the various categories. Using these possibilities, it is possible to give a prediction of the level of security needed for these categories.

The electronic payment system (EPS) is one of the most-advanced systems for enabling the execution of transactions. Effective use of the e-payment system relies on customer satisfaction level. In view of this, this study aimed to investigate the impact of electronic payment technology on customers' satisfaction level at Shell Relays Filling Station in Mauritius. The study revealed various impacts of e-payment, such impacts as the usability, time factor, affordability, user-friendliness and protection. It has also been discovered that the level of education has a greater effect on consumer satisfaction. To achieve the stated objective, the study followed a quantitative approach. The population was selected among e-payment users at Shell Relays Filling Station through a random sampling technique. Primary data were gathered from 118 respondents by using online questionnaires. The results are consequently analysed in tables, bar charts, and pie charts derived by the computer software Statistical Package for Social Science (SPSS) and Microsoft Excel. Based on the findings of this report and its conclusion, practicable recommendations were suggested to decision-makers to help them improve the e-payment system in order to fulfill consumer needs and thereby satisfying them.

iKP (i-Key-Protocol, i = 1, 2, 3) is a family of electronic payment protocols, developed in early 1995 by a group of researchers at the IBM Research labs in Yorktown Heights and Zurich, and one of the ancestors of well-known SET standard. In this paper, we analyze iKP with respect that they have a property that buyer and seller always agreed on the payment whenever acquirer authorizes it. As the designers of the iKP protocols point out, the 1KP protocol does not possess the property. We found out, however, that there exists a counter example to the 2KP and 3KP protocols. Threfore we propose modification of the 2KP and 3KP protocols so that they can possess the property. We have formally verified that the modified 2KP and 3KP protocols possess the property. In this paper, we describe the verification that the modified 3KP protocol possesses the property.

ABSTRACT: The e-commerce has become a routine part of human life because it offers major advantages: convenience (it's no longer necessary to visit a store to be able to shop), efficiency (the buyer can visit several virtual shops in a very short time, the crowd of shops and the ...

We use the concept of designated 2-verifier proofs to design simple and secure electronic payment systems. Two on-line protocols which link securely Customers, Merchants and Banks are presented. In the first the identity of the Customer is traceable. This protocol can be used for general electronic payment systems. The second protocol can be used for anonymous electronic cash payments. Both protocols have a simple structure and are provably secure.

During the 20 year lifetime of the Journal of Financial Services Marketing the study of online banking adoption has emerged and matured as a field. Now 20 years on, we reflect on the accumulated online banking adoption knowledge and consider what this tells us. Based on an audit of published research over a ten-year period, 1998-2008, we identify the core theories and approaches utilised to study online banking. The findings reveal the widespread application of the Technology Adoption Model (TAM). Drawing on the current debate regarding TAM within the Information Systems (IS) domain, we critically evaluate the ongoing appropriateness of TAM for online banking adoption research, and call for a refreshed approach to the study of bank technology adoption. The paper concludes by highlighting other theories that offer potential to extend knowledge in this area.

Many proposals for electronic payment systems (EPS) have been made but the great majority have failed to achieve widespread adoption. The reasons why some proposals succeed and others fail remains unclear. The successful operation of these systems depends on the cooperation of a number of stakeholders including consumers, merchants, financial institutions and infrastructure providers. In this paper we analyse the conditions for success in terms of the benefits and costs of the system to these stakeholders. On the basis of theoretical arguments, we present two hypotheses about the necessary (but not sufficient) conditions for successful diffusion of an EPS: the distribution of costs benefits and risks among stakeholders must be mutual; and a critical mass of customers and merchants must be provided for the EPS by the financial or technology infrastructure partners. We illustrate the arguments with three case studies of recent attempts to create new electronic payments systems.

'Mobile payments are growing at a great pace in the UAE. The latest technological advancements have made it easy to provide consumers with speedy, cheap, and convenient mobile payment services. However, the success of these services does not rely solely on these technical factors. Mobile payment services will only continue growing so rapidly, if the users of these services are legally well protected. This article seeks to test the adequacy of the current legal framework for mobile payments in the UAE with regard to consumer protection. It focuses in particular on issues of oversight and governance of the mobile payment providers, protection of consumer's data, protection against unauthorized charges, and availability of viable dispute resolution for the consumers. Legislative lacunae are highlighted and solutions for improvement are proposed.'

In this work we use our proposed adaptation of the strand spaces method in the analysis of a fair exchange protocol for payment, proposed in [Zuo and Li 2005]. The protocol fails to provide timeliness and fairness to the buyer (Downloader), and four previously unreported attacks are traced regarding those properties. This is a continuation of the work started in [Piva et al. 2006].

VarietyCash is a new electronic money system which strikes a balance between functionality, security, and user privacy. The system can encompass both network and stored-value card based payment mechanisms, with transferability b e t w een them, hence the name. 1 Introduction Electronic payment systems are well-understood to be an essential step on the road to electronic commerce, and are thus in high demand. These systems need to strike a good balance between a number of di erent issues. Amongst these are: Anonymity: The extent to which a third party bank or other payment service provider or the merchant has information about the identity o f the buyer.

Electronic payment systems are increasingly in need of improvement as they constitute the base for electronic commerce which is rapidly dominating much trade and particularly retail. One such system that allows payments of low value is known as micropayment system the main requirement for which is naturally 'low cost of transaction'. Payword is a micropayment system which uses hash chains and achieves better computational performance. It is a creditbased protocol involving a customer, vendor and broker. However, in this system users have to generate a new payword chain for each vendor from which they make a purchase and also their payment process is not anonymous. MVPayword was an extension to Payword which enables the user to make purchases from different vendors using only one hash chain. In this paper we shall introduce AMVPayword which is an extension to MVPayword and provides anonymity for customers. So users can be sure about the protection of their privacy in payment system.

Previously proposed anonymous electronic payment systems have the drawback that the bank has to maintain large databases, which is a handicap for the realization of such systems. In this paper, we present a practical anonymous payment system that significantly reduces the size of such databases. It uses the concept of anonymous accounts and offers anonymity as an add-on feature to existing EFTPOS systems.

Developing Countries are gradually transiting from cash to an electronic based economy by virtue of cashless policy implementation. With this development, cyber criminals and hackers who hitherto attacked businesses and individuals across the Atlantic now see this development as a new venture for their criminal acts and are thus redirecting their energies towards exploiting possible loopholes in the electronic payment system in order to perpetuate fraud. In this paper, we proposed an enhanced approach to detecting phishing attempts and preventing unauthorized online banking withdrawal and transfer. We employed the use of Semantics Content Analysis, Earth Mover Distance and Biometric Authentication with finger print to construct a model. We demonstrated the efficacy of the implemented model with the experiments conducted, a good and considerable result was achieved.

representations of value were introduced. A corresponding progression of value transfer systems, starting from barter, through bank notes, payment orders, checque and later credit cards, has culminated in electronic payment systems. Ghana payment system has been predominantly cash-based. With the rapid growth of Information and Communication Technology (ICT),E-commerce is now acting as a means of carrying out business transactions through electronic means such as the Internet. E-commerce is the most recent step in the evolution of business transactions as it replaces or augments the swapping of money or goods with the exchange of payment, financial service kiosks, biometric payments, electronic payments networks etc and as technology develops, the range of devices and processes to transact electronically continues to increases while the percentage of cash and cheque transactions continue to decrease. As electronic payment systems have rapidly spring up as a means of business transac...

Purpose The purpose of this paper is to propose a secure mobile group-buying system for application on spontaneous group-buying websites. Design/methodology/approach The proposed mechanism uses the Schnorr digital signature technique. Findings The proposed scheme is able to satisfy many security requirements. The computation costs of each phase and party were also analyzed, and the communication cost of each phase was calculated. Originality/value The results indicate that the proposed scheme is suitable for real-world application.

With the rapid development of the Internet applications, added-value service is widely used in the Internet. The added-value service provides different kind of services for users. In this paper, we propose a stored-value card to provide an added-value service of payment protocol in VANET. When user wants to enjoy the added-value service, the service provider verifies the request and sends it to the payment gateway. Then the payment gateway forwards the transaction message to the Issuer and Acquirer to process it. In our scheme, we use symmetric cryptography and digital signature to solve the security problem of payment scheme in VANET. Our scheme achieves protection against double-spending, unforgeability, non-repudiation, anonymity and the recovery issue.

Developing Countries are gradually transiting from cash to an electronic based economy by virtue of cashless policy implementation. With this development, cyber criminals and hackers who hitherto attacked businesses and individuals across the Atlantic now see this development as a new venture for their criminal acts and are thus redirecting their energies towards exploiting possible loopholes in the electronic payment system in order to perpetuate fraud. In this paper, we proposed an enhanced approach to detecting phishing attempts and preventing unauthorized online banking withdrawal and transfer. We employed the use of Semantics Content Analysis, Earth Mover Distance and Biometric Authentication with finger print to construct a model. We demonstrated the efficacy of the implemented model with the experiments conducted, a good and considerable result was achieved.

Over* the* years* there* has* been* a* progression* of* value* transfer* systems* starting* from* barter,*through*bank*notes,*payment*orders,*cheques*and*later*Credit*Cards*(Asokan*et# al.,* 2000).* This* has* finally* evolved* into* electronic* payment* on* the* Internet.* This* research* therefore* assesses* the* adoption* of* cash* mobilization* system* using* eNzwich* payment*system*in*Ghana.*The*population*for*the*research*was*clients*and*merchants* of* ENzwich* in* the* Kumasi* Metropolis.* The* population* included* staffs* of* the* various* banks*in*the*Metropolis*that*have*ENzwich*services.**A*sample*size*of*sixty*(60)*clients* and*five*(5)*staff*each*from*five*(5)*Banks*and*twenty*(20)*merchants*were*selected.*It* was*found*among*others*that,*merchants*are*raising*concerns*with*buying*and*loading* of* credit* units* unto* the* POS* device,* unavailability* of* thermal* roll* on* the* market* and* network* connectivity* issues* while* performing* "profile* download"* -* a* very* important* activity* before* transactions* can* occur* on* the* POS* device.* Compounding* to* the* issues,* clients*are*also*facing*the*unavailability*of*enough*merchants*in*the*Metropolis*while* most*of*the*small*available*merchants*they*visit*do*not*have*their*POS*systems*working* effectively.* However,* it* is* recommended* among* others* that,* the* revolution* of* the* eN zwich* system* should* be* targeting* teenagers* and* young* adults* who* receive* transfers* from*their*parents*or*guardians*and*possess*a*sizeable*amount*of*money*but*are*often* ineligible* to* open* a* bank* account* which* will* allow* a* greater* proportion* of* funds* to* remain*within*the*banking*system*until*they*are*spent.* ! Key*Words:*E<zwich,!Electronic!Payment!Systems,!GhIPSS,!ATM,!Mobilizing,!Unbanked* INTRODUCTION* Modern! electronic! payment! systems! have! become! a! significant! element! in! all! trade! and! commerce!activities!globally.!The!scope!of!electronic!payments!extends!from!under!one!dollar! to!multi<million!dollar!transactions.!Despite!the!benefits!that!electronic!payment!systems!has! brought! to! other! economies! such! as! the! western! developed! countries,! economies! in! Africa,! which!are!still!in!the!early!stages!of!applying!electronic!payment!systems!are!yet!to!experience! its!maximum!economic!and!operational!impact!(Ackorlie,!2009).!! ! Unlike!the!developed!world,!electronic!payment!systems!are!rare!in!developing!countries!like! Ghana! because! they! have! been! slow! to! restructure! and! adapt! to! the! new! global! economic! reality! resulting! in! lost! opportunity! and! diminished! competitiveness.! Implementing! cash! mobilization! system! in! a! developing! nation! where! majority! of! citizens! are! used! to! cash! and! cheque!based!transactions!require!a!lot!more!effort.!This!research!therefore!intends!to!assess! the!adoption!of!cash!mobilization!system!using!the!e<zwich!payment!system!in!Ghana.!

A digital banking platform enables banks to bring together new and existing processes as a means of offering the innovative d igital banking products and services that are critical to retaining and attracting consumers in an increasingly competitive market. Supporting open, unified and multichannel integrati on is an essential function because it enables you to focus synergies across all channels. Digital banking platforms need to provid e a first-class customer experience by letting consumers manage their personal details without difficulty. A future-proof platform should also be capable of managing, visualizing, and logging your banking processes and handling customer on boarding, product or service maintenance, and compliance-all in one place. a digital banking platform with a three-layer architecture is the most effective way to build a future-proof digital bank. It is more than just focusing on what the consumers see. You need a platform that digitizes the front, mid and back layers-or as we describe them the presentation layer, the client and orchestration layer, and the product layer. In the banking industry, keeping your place in a competitive market, customer experience enhancement, meeting legislation requirements, and costs reduction are the main challenges. Making the switch to digital banking is essential to overcome these challenges. A digital banking platform is the basis of every digital bank and no digital bank can operate without application software.

This paper discusses the design, implementation and deployment of a secure and practical payment system for electronic commerce on the Internet. The system is based on the iKP family of protocols-i = 1, 2, 3-developed at IBM Research. The protocols implement credit cardbased transactions between buyers and merchants while the existing financial network is used for payment clearing and authorization. The protocols are extensible and can be readily applied to other account-based payment models, such as debit cards. They are based on careful and minimal use of public-key cryptography and can be implemented in either software or hardware. Individual protocols differ in both complexity and degree of security. In addition to being both a precursor and a direct ancestor of the well-known SET standard, iKP-based payment systems have been in continuous operation on the Internet since mid-1996. This longevity-as well as the security and relative simplicity of the underlying mechanisms-make the iKP experience unique. For this reason, this paper also reports on, and addresses, a number of practical issues arising in the course of implementation and real-world deployment of a secure payment system.

With advancement in the use of information technology seen as a key factor in economic development, developed countries are increasingly reviewing traditional systems, in various sectors such as education, health, transport and finance, and identifying how they may be improved or replaced with automated systems. In this study, the authors examine the role of technology trust in the acceptance of mobile banking in Nigeria as the country attempts to transition into a cashless economy. For Nigeria, like many other countries, its economic growth is linked, at least in part, to its improvement in information technology infrastructure, as well as establishing secure, convenient and reliable payments systems. Utilising the Technology Acceptance Model, this study investigates causal relationships between technology trust and other factors influencing user's intention to adopt technology; focusing on the impact of seven factors contributing to technology trust. Data from 1725 respondents was analysed using confirmatory factor analysis and the results showed that confidentiality, integrity, authentication, access control, best business practices and non-repudiation significantly influenced technology trust. Technology trust showed a direct significant influence on perceived ease of use and usefulness, a direct influence on intention to use as well as an indirect influence on intention to use through its impact on perceived usefulness and perceived ease of use. Furthermore, perceived ease of use and perceived usefulness showed significant influence on consumer's intention to adopt the technology. With mobile banking being a key driver of Nigeria's cashless economy goals, this study provides quantitative knowledge regarding technology trust and adoption behaviour in Nigeria as well as significant insight on areas where policy makers and mobile banking vendors can focus strategies engineered to improve trust in mobile banking and increase user adoption of their technology.

This empirical study investigates the factors influencing Nigerians’ trust and adoption of mobile banking technology; using an integrative model. Research was conducted using a questionnaire developed and distributed in Nigeria. Out of 2256 returned questionnaires, 1725 were deemed to have been completed and hence usable. The data was analysed using confirmatory factor analysis and the results showed that confidentiality, integrity, authentication, access control, best business practices and non-repudiation significantly influenced technology trust with availability showing unsatisfactory values for consideration. In addition, technology trust showed a direct significant influence on perceived ease of use and usefulness. Technology trust also showed an indirect influence on intention to use through its impact on perceived usefulness and perceived ease of use. Also, perceived ease of use and perceived usefulness showed significant influence on consumer’s intention to adopt the techno...

We are tackling the problem of trading real-world private information using only cryptographic protocols and a public blockchain to guarantee honest transactions. In this project, we consider three types of agents --buyers, sellers and notaries-- interacting in a decentralized privacy-preserving data marketplace (dPDM) such as the Wibson data marketplace. This framework offers infrastructure and financial incentives for individuals to securely sell personal information while preserving personal privacy. Here we provide an efficient cryptographic primitive for the secure exchange of data in a dPDM, which occurs as an atomic operation wherein the data buyer gets access to the data and the data seller gets paid simultaneously.

We are tackling the problem of trading real-world private information using only cryptographic protocols and a public blockchain to guarantee honest transactions. In this project, we consider three types of agents --buyers, sellers and notaries-- interacting in a decentralized privacy-preserving data marketplace (dPDM) such as the Wibson data marketplace. This framework offers infrastructure and financial incentives for individuals to securely sell personal information while preserving personal privacy. Here we provide an efficient cryptographic primitive for the secure exchange of data in a dPDM, which occurs as an atomic operation wherein the data buyer gets access to the data and the data seller gets paid simultaneously.

Digital revolution has altered the routine life style of people. The power of world wide web and digital payments is having pivotal role in getting connected and making any time any where payments at your fingertips. Even though there are enormous advantages, a technology can be successful only if it is able to attain user satisfaction and there by leads to consumer loyalty. This paper is focussed to analyse the determinants influencing E-payment usage and thereby the factors leading to consumer satisfaction. The factors so revealed includes perceived use, perceived ease of use and actual usage of the system. The findings based on various literature reviews recommends that trust, consumer interaction, service delivery, ensuring security from hackers are the determinants which needs to be considered.

In this paper we consider a system whose function is to enable users to pay for goods or services by direct electronic transfer of funds. The system consists of terminals, located at retail outlets, which can communicate with acquirers representing variuos financial institutions.

Along with financial markets growth, the amplitude of settlements through payment systems has continuously increased. At the same time, it is necessary to be correlated with the need of streamline of noncash payments and with clients’ demands to transfer sure, efficient and low-cost amounts of money. This action determined passing over to the electronic payment system functioning in real time. In this respect, we aim at drawing up a concise presentation of the electronic payment system in our country combined with assessments of this system aligned to the European Union’s from the point of view of functionalities as well as respecting European and international standards and practices in the field.

VarietyCash is a new electronic money system which strikes a balance between functionality, security, and user privacy. The system can encompass both network and stored-value card based payment mechanisms, with transferability b e t w een them, hence the name. 1 Introduction Electronic payment systems are well-understood to be an essential step on the road to electronic commerce, and are thus in high demand. These systems need to strike a good balance between a number of di erent issues. Amongst these are: Anonymity: The extent to which a third party bank or other payment service provider or the merchant has information about the identity o f the buyer.