scholarly journals A Survey on Contactless Smart Cards and Payment System

2020 ◽  
Vol 28 (4) ◽  
pp. 135-159
Author(s):  
Brij B. Gupta ◽  
Shaifali Narayan
Keyword(s):  
Payment System ◽  
Smart Cards ◽  
Future Research ◽  
Payment Systems ◽  
Research Issues ◽  
Security Issues ◽  
Payment Methods ◽  
User Data ◽  
Proper Analysis

In recent years, contactless transactions have risen rapidly. It includes NFC, MST, contactless cards, and many other payment methods. These payment methods have certain security issues, and attackers are in a regular search for the exploits to break its security. These security issues require proper analysis to secure user data from attackers. This article will discuss the contactless smart cards and payment systems in detail including the techniques used for securing user data and different possible attacks on the technology used for communication. The article also presents some countermeasures to prevent the attack and issues with those countermeasures. In addition, the article includes some future research issues and suggestions to overcome the security issues in contactless payment system.

An Improved Authentication Scheme for Electronic Payment Systems in Global Mobility Networks

2015 ◽  
Vol 44 (4) ◽  
pp. 387-403 ◽  
Author(s):  
Mohammad Heydari ◽  
S. Mohammad-Sajad Sadough ◽  
Shehzad Ashraf Chaudhry ◽  
Mohammad Sabzinejad Farash ◽  
Mohammad Reza Aref
Keyword(s):  
Payment System ◽  
Encryption Scheme ◽  
Authenticated Encryption ◽  
Payment Systems ◽  
Electronic Trade ◽  
Security Issues ◽  
Payment Schemes ◽  
And Performance ◽  
Automated Tool ◽  
Very High

The use of e-payment system for electronic trade is on its way to make daily life more easy and convenient‎. ‎Contrarily‎, ‎there are a number of security issues to be addressed‎, ‎user anonymity and fair exchange have become important concerns along with authentication‎, ‎confidentiality‎, ‎integrity and non-repudiation‎. ‎In a number of existing e-payment schemes‎, ‎the customer pays for the product before acquiring it‎. ‎Furthermore‎, ‎many such schemes require very high computation and communication costs‎. ‎To address such issues recently Yang et.al‎. ‎proposed an authenticated encryption scheme and an e-payment scheme based on their authenticated encryption‎. ‎They excluded the need of digital signatures for authentication‎, ‎further they claimed their schemes to resist replay‎, ‎man-in-middle‎, ‎impersonation and identity theft attack‎, ‎while providing confidentiality‎, ‎authenticity‎, ‎integrity and privacy protection‎. ‎However our analysis exposed that Yang et al.'s both authenticated encryption scheme and e-payment system are vulnerable to impersonation attack‎. ‎An adversary just having knowledge of public parameters can easily masquerade as a legal user‎. ‎Furthermore‎, ‎we proposed improved authenticated encryption and e-payment schemes to overcome weaknesses of Yang et al.'s schemes‎. ‎We prove the security of our schemes using automated tool ProVerif‎. ‎The improved schemes are more robust and more lightweight than Yang et al.'s schemes which is evident from security and performance analysis‎.DOI: http://dx.doi.org/10.5755/j01.itc.44.4.9197

scholarly journals Addressing the Trust Factor in Mobile Payments through Enhanced Security Controls

2019 ◽  
Vol 8 (3) ◽  
pp. 6769-6773
Keyword(s):  
Mobile Technology ◽  
Mobile Networks ◽  
Payment System ◽  
Mobile Payment ◽  
Payment Systems ◽  
Security Issues ◽  
Mobile Payments ◽  
Security Controls ◽  
Fast Development ◽  
High Uncertainty

Trust plays a key role in the acceptance of a new payment system and is at the heart of any method of payment. Companies have been using mobile payments for over a decade. Because of the high uncertainty and security issues accompanying mobile payment, developing trust of users is critical to enable their adoption and use. Customers will use mobile payments as long as they have trust in this relatively new mode of payment together with dependence on its services and applications. In this context, recent studies indicate that trust in mobile payment systems (MPS) is not uniform among users despite the fast development of mobile technology and the new modes of payment. The aim of this paper is to provide a number of suggestions to assist developing greater trust in the mobile networks and provide customers with a secure and befitting experience that will influence mobile payment adoption in turn

scholarly journals The COVID-19 Pandemic as a Driving Force for E-Wallet Adoption in Indonesia

2021 ◽  
Vol 9 (2) ◽  
pp. 40
Author(s):  
Machmudin Eka Prasetya ◽  
Intan Salwani Mohamed ◽  
Shuhaida Mohamed Shuhidan ◽  
Gede Harja Wasistha
Keyword(s):  
Driving Force ◽  
Payment System ◽  
Mobile Banking ◽  
Payment Systems ◽  
Online Transactions ◽  
Payment Methods

During the COVID-19 pandemic, e-payment systems, also known as cashless payment systems, have steadily evolved as a payment system instrument. Changes in payment methods, followed by a growth in digital payment systems, may be driving people to use e-wallets. The functions of an e-wallet are similar to those of an e-banking or mobile banking account, but an e-wallet gives greater convenience and simplicity of access while making payments. Because the use of e-wallets can help reduce the spread of COVID-19-causing coronaviruses, this study looks into the possibilities of increasing e-wallet usage while also increasing the use of digital payment and online transactions during the COVID-19 outbreak.

scholarly journals Wi-Fi Security Card (WCS): A Novel Approach for Secure Payment System

2021 ◽  
Vol 3 (2) ◽  
pp. 158-161
Author(s):  
Sumit Kumar
Keyword(s):  
Financial Services ◽  
Payment System ◽  
The Internet ◽  
Payment Method ◽  
Payment Systems ◽  
Security Issues ◽  
Novel Approach ◽  
Vital Element

The latest technology is turning into a vital element in financial business. This paper presents a proposed system called Wi-Fi Security Card (WCS) based on the very common and growing problem of electronic transaction fraud in the countries of India. To solve such problems, we have proposed a novel secure payment method known as Wi-Fi Security Card (WCS). In this paper, we also compared the WCS system to another existing system called Dropped Card Detection (DCD) and Microcontroller and Sensors (MAS). The main advancement of our system over the existing system is that WCS can also prevent fraudulent transactions. Nowadays, security issues in e-payments are usually more demanding than current security issues on the internet. Our findings may enable e-transaction providers to extend their secure payment systems by increasing their protection as necessary for appropriate financial services.

scholarly journals The Role of Electronic Payment Methods in Facilitating Money Transactions in Erbil City

2019 ◽  
Vol 3 (1) ◽  
pp. 7-14
Author(s):  
Dina A. AL-Saji
Keyword(s):  
International Markets ◽  
Payment System ◽  
Electronic Payment ◽  
Payment Systems ◽  
Payment Methods ◽  
Good Ability ◽  
Awareness Programs ◽  
Customer Services ◽  
Financial Transactions ◽  
Electronic Payment System

The emergence of e-commerce has created new financial needs that in many cases cannot be effectively fulfilled by the traditional payment systems. All interested parties are exploring various types of the electronic payment system and issues electronic payment system and digital currency. Therefore, I conducted research on the availability and variety of electronic payment methods in Erbil city, to see the extent of using them in financial transactions. The sample of the research included three banks (Cihan, RT, Byblos). The distributed questionnaires were 40 and collected just 31 were valid to statistically analysis. The questionnaire was designed according to the five-dimensional Likert scale. The SPSS program was used for statistical analysis to extract results Based on the results, the following the most important conclusions were achieved. The results showed that banks have a great interest in electronic payment methods to attract customers and improve customer services. Electronic payment methods are limited only to customers who have a good ability to handle the Internet. According to the results, we made a number of recommendations: Banks should pay attention to issuing new and modern electronic payment methods to attract new customers and follow developments in global markets. Banks and other specialized organizations should conduct awareness programs for clients on the importance and ease of using electronic payment methods in financial transactions in local and international markets.

Electronic Payment Systems in Electronic Commerce

2020 ◽  
pp. 114-139
Author(s):  
Rana Atabay Kuscu ◽  
Yasemin Cicekcisoy ◽  
Umit Bozoklu
Keyword(s):  
Electronic Commerce ◽  
Web Sites ◽  
Payment System ◽  
The Internet ◽  
Electronic Payment ◽  
Payment Systems ◽  
Payment Methods ◽  
Digital World ◽  
Technological Advances ◽  
Block Chaining

Technological advances and correspondingly the spreading usage of the Internet have significantly changed commerce, and also the concept of money has become more abstract. Customers with the help of the technological advances don't have the necessity of cash money, and consumers/firms tend towards alternative payment methods. At this point, electronic commerce (e-commerce) web sites have started to use block chaining payment methods. In this digital world, new payment technologies have started to spread far and wide thanks to fast improvements in payment technologies, and they offer different options in payment methods. Each electronic payment (e-payment) system has some advantages; however, each of them has some disadvantages as well. The aim of this study is to investigate the e-payment systems which are different from traditional payment methods.

Mobile Banking and Payment System

2018 ◽  
pp. 66-82
Author(s):  
Aijaz A. Shaikh ◽  
Payam Hanafizadeh ◽  
Heikki Karjaluoto
Keyword(s):  
Financial Services ◽  
Banking System ◽  
Value Added ◽  
Payment System ◽  
Future Research ◽  
Mobile Banking ◽  
Microfinance Institutions ◽  
Payment Systems ◽  
Services Sector ◽  
Future Research Directions

This study conceptualizes and proposes a well-regulated and designated mobile banking and payment system (MBPS) with the potential to strengthen the banking system, foster the regulatory framework, and to be integrated across various platforms and mobile devices. Unlike other mobile payment systems that lack convenience, scalability, and usability, the proposed MBPS contains several important functionalities and it has the potential to bring together hitherto unconnected industries—banking, Fintech and telecoms—to offer value-added services to their existing and potential customers. The ownership of the MBPS shall remain with the financial services sector including the banking and microfinance institutions. The paper concludes with a discussion on the implications and limitations of the study and proposes future research directions.

Electronic Payment Systems in Electronic Commerce

2021 ◽  
pp. 82-108
Author(s):  
Rana Atabay Kuscu ◽  
Yasemin Cicekcisoy ◽  
Umit Bozoklu
Keyword(s):  
Electronic Commerce ◽  
Web Sites ◽  
Payment System ◽  
The Internet ◽  
Electronic Payment ◽  
Payment Systems ◽  
Payment Methods ◽  
Digital World ◽  
Technological Advances ◽  
Block Chaining

Technological advances and correspondingly the spreading usage of the Internet have significantly changed commerce, and also the concept of money has become more abstract. Customers with the help of the technological advances don't have the necessity of cash money, and consumers/firms tend towards alternative payment methods. At this point, electronic commerce (e-commerce) web sites have started to use block chaining payment methods. In this digital world, new payment technologies have started to spread far and wide thanks to fast improvements in payment technologies, and they offer different options in payment methods. Each electronic payment (e-payment) system has some advantages; however, each of them has some disadvantages as well. The aim of this study is to investigate the e-payment systems which are different from traditional payment methods.

AWARENESS OF CRYPTOCURRENCIES AMONG CONSTRUCTION PROFESSIONALS

2021 ◽  
Vol 8 (1) ◽  
Author(s):  
Mehmet İlker Genç ◽  
Aslı Pelin Gürgün
Keyword(s):  
Construction Industry ◽  
Firm Size ◽  
Construction Projects ◽  
Payment System ◽  
Payment Systems ◽  
Construction Companies ◽  
Payment Methods ◽  
Technological Developments ◽  
Natural Result ◽  
Day By Day

Recent technological developments are gradually causing changes and transformations in the existing global money and payment systems. The worldwide interest in electronically created cryptocurrencies as an alternative payment system is growing day by day. As a natural result of this interest, the payment system has been receiving attention with the potential to integrate into project processes as an alternative to traditional payment methods. The construction industry is one of the sectors, where cryptocurrencies could be integrated into several processes including money transactions. In this study, the awareness of cryptocurrencies among construction professionals and the possibility of their use in the future projects are investigated. For this purpose, a survey was prepared and administered to 284 professionals working in construction companies in Turkey. The collected results showed that the awareness of cryptocurrency among construction professionals changed based on firm size by revenue and having international or national operations. In general, it could be stated that cryptocurrencies would be considered as an alternative payment tool in the construction projects as the awareness increases.

scholarly journals Mobile Banking and Payment System

2017 ◽  
Vol 13 (2) ◽  
pp. 14-27 ◽  
Author(s):  
Aijaz A. Shaikh ◽  
Payam Hanafizadeh ◽  
Heikki Karjaluoto
Keyword(s):  
Financial Services ◽  
Banking System ◽  
Value Added ◽  
Payment System ◽  
Future Research ◽  
Mobile Banking ◽  
Microfinance Institutions ◽  
Payment Systems ◽  
Services Sector ◽  
Future Research Directions

This study conceptualizes and proposes a well-regulated and designated mobile banking and payment system (MBPS) with the potential to strengthen the banking system, foster the regulatory framework, and to be integrated across various platforms and mobile devices. Unlike other mobile payment systems that lack convenience, scalability, and usability, the proposed MBPS contains several important functionalities and it has the potential to bring together hitherto unconnected industries—banking, Fintech and telecoms—to offer value-added services to their existing and potential customers. The ownership of the MBPS shall remain with the financial services sector including the banking and microfinance institutions. The paper concludes with a discussion on the implications and limitations of the study and proposes future research directions.

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