Enhancing Privacy in PUF-Cash through Multiple Trusted Third Parties and Reinforcement Learning

Electronic cash ( e-Cash ) is a digital alternative to physical currency such as coins and bank notes. Suitably constructed, e-Cash has the ability to offer an anonymous offline experience much akin to cash, and in direct contrast to traditional forms of payment such as credit and debit cards. Implementing security and privacy within e-Cash, i.e., preserving user anonymity while preventing counterfeiting, fraud, and double spending, is a non-trivial challenge. In this article, we propose major improvements to an e-Cash protocol, termed PUF-Cash, based on physical unclonable functions ( PUFs ). PUF-Cash was created as an offline-first, secure e-Cash scheme that preserved user anonymity in payments. In addition, PUF-Cash supports remote payments; an improvement over traditional currency. In this work, a novel multi-trusted-third-party exchange scheme is introduced, which is responsible for “blinding” Alice’s e-Cash tokens; a feature at the heart of preserving her anonymity. The exchange operations are governed by machine learning techniques which are uniquely applied to optimize user privacy, while remaining resistant to identity-revealing attacks by adversaries and trusted authorities. Federation of the single trusted third party into multiple entities distributes the workload, thereby improving performance and resiliency within the e-Cash system architecture. Experimental results indicate that improvements to PUF-Cash enhance user privacy and scalability.

Towards an Ultimate Cashless Society and Potential Collaboration Between Blockchain and E-Payments

There are many different ways by which a user can make cashless payments—online banking, credit and debit cards, e-wallets, and QR codes just to name a few. The adoption of the methods of payment is largely determined by government rules as well as regulations in the respective countries. Hence, this study provides an in-depth discussion regarding the trends of e-payment adoption in selected countries. To strengthen the case for the digitalisation of transactions, the authors also consider the advantages of moving towards a cashless society. In addition, major issues that hinder the growth in the global adoption of e-payments found in cross-border transactions will be discussed. Furthermore, this chapter also explores the potential adaptation of blockchain technology on e-payment systems to solve the instant cross-border payment issue.

Prepaid debit cards and banking intention

PurposeThis study examines the relationship between prepaid debit card use and the intention to open a bank account within twelve months. The Transtheoretical Model (TTM) of Behavior Change helped to conceptualize one's stage in the process of changing from unbanked status if desired. The Theory of Planned Behavior (TPB) provided a framework to examine factors that influence banking intention. Prepaid debit card use is considered a social norm as it is a popular alternative to banking, and these accounts have increasingly mimicked bank account features in recent years.Design/methodology/approachThree in-depth focus group interviews with low-income respondents were first conducted in 2012, which revealed a prolific use of prepaid debit cards. Most participants had previous banking history, and despite negative experiences, some requested information about banking terms and “free” banking. These themes and previous studies informed a TPB-based biprobit model, which was estimated using data of an unbanked sample from 2013, 2015 and 2017 waves of the US Survey of Unbanked and Underbanked Households.FindingsThough there was banking interest in the focus groups, no significant empirical association was found between recent prepaid debit card use and banking intention. Going deeper with another sample, we found that current cardholders were equally likely to have become recently banked or to be long-term unbanked but less likely to be long-term banked. Also, factors such as a more recent relationship with banks, use of other alternative financial services for transactions and credit, smartphone ownership, and trust increase banking intention.Research limitations/implicationsThe main limitation of the study is the cross-section quantitative data. Future research may track banking status over time, particularly as financial technology (fintech) evolves with alternatives that may influence banks and customers to adapt.Practical implicationsTo compete with “leapfrog” fintech banking alternatives, bank managers should consider utilizing customer segmentation to target “at-risk” customers and former customers with products and terms tailored to meet their banking needs. Banks can also tailor digital products to capture markets in banking desserts through mobile phones.Originality/valueThis mixed-methods study is unique in that it builds on insights from earlier in-depth interviews with real unbanked groups to examine a trend in prepaid debit card use and the impact on banking interest.

“Impact of E-Payment Systems on Customer Satisfaction”

Everything has shifted online since the outbreak of the pandemic, from education to full-time jobs to health check-ups. What's important to remember here is that the majority of our day-to-day activities increasingly include making payments online. Although e-payment and e-banking solutions have been available for some time now, the pandemic has effectively compelled a huge portion of the urban and rural populations to use them. This research study aims to find out how widely epayment and e-banking systems are used and how they affect the user experience. Researchers have often been drawn to digital payment systems since they are a relatively new concept (the first digital payment system was only established in the 1990s). Over time, researchers have attempted to characterize the value of digital payment systems and what they represented for modern ecommerce, consumer personal finance, and economies around the world. According to the literature analyzed from many articles and research papers, digital payment is significantly more convenient than traditional paper currency. There has been a lot of studies done on the problems with digital payment systems (such as serious security issues and inaccessibility to these systems owing to low internet penetration), which pushes developers to keep working on these systems for the purpose of safer and faster transactions. According to several studies, online payment technology can cut costs, increase the number of consumers for a firm, improve customer-company interaction, and improve the company's image. This necessitates businesses providing a frictionless payment experience to their customers. In this research paper, a large amount of secondary data, as well as primary data acquired via survey, was utilized to highlight the paper's aims, type, and, most importantly, to analyze and interpret the data in order to better address the problem statement. We've come to the conclusion that electronic payment solutions have a huge impact on client satisfaction. Customers are increasingly turning to e-payment systems as a result of the pandemic's regular lockdowns, which have limited access to banks and conventional ATMs. While making online payments, consumers look for offers, rewards, discounts, and other incentives, which distinguish them from cash on delivery payments. Businesses (large and small) should make sure that their customers have a variety of ways to pay for goods and services (debit cards, credit cards, digital wallets, UPI, prepaid cards). Purpose & Summary of Study 1) Purpose ● To ascertain the extent to which e-payment systems are employed. ● To examine the impact of e-payment systems on customer satisfaction. ● To discuss issues surrounding e-payment systems. 2) Summary: The goal of this study is to find out how widely e-payment and e-banking technologies are used and how they affect the user experience. For the purposes of this study, a large amount of related literature, as well as primary data acquired by survey, was evaluated. Concerns about e-payment systems have also been raised. We noticed that the pandemic has driven a big number of people to utilize e-payment systems and that having a functional and seamless online payment experience is critical to attracting customers to all types of enterprises. Despite security concerns and a lack of access to faster internet connections, Indians are beginning to embrace online payment solutions. Keywords: E-payments, Credit Cards, Online Transactions, Cash Payment, E-Commerce, Customer Satisfaction, Debit Cards, Google-Pay, UPI Apps, Internet Banking

PENGARUH TRANSAKSI NON TUNAI, INFLASI DAN PENERIMAAN PAJAK TERHADAP PERUMBUHAN EKONOMI DI INDONESIA

Economic growth is a development goal that every country wants to achieve, one of which is Indonesia, which is currently focus on increasing economic growth. Therefore, this study aims to analyze the effect of ATM and debit cards, electronic money, inflation and tax revenue on economic growth in Indonesia, either partially or simultaneously. This type of research uses a quantitative approach with multiple linear regression methods, data used are secondary data taken from the publications of the Central Statistics Agency, Bank Indonesia and the Ministry of Finance of the Republic of Indonesia in 2012-2018. The data in the study were processed using SPSS 26. Results of hypothesis testing showed that ATM and debit cards had a positive effect on economic growth, electronic money had a positive effect on economic growth. While inflation has no effect on economic growth and tax revenue has no effect on economic growth. Simultaneously, ATM and debit cards, electronic money, inflation and tax revenues have an effect on economic growth.

A Digital Cash Paradigm with Valued and No-Valued e-Coins

Digital cash is a form of money that is stored digitally. Its main advantage when compared to traditional credit or debit cards is the possibility of carrying out anonymous transactions. Diverse digital cash paradigms have been proposed during the last decades, providing different approaches to avoid the double-spending fraud, or features like divisibility or transferability. This paper presents a new digital cash paradigm that includes the so-called no-valued e-coins, which are e-coins that can be generated free of charge by customers. A vendor receiving a payment cannot distinguish whether the received e-coin is valued or not, but the customer will receive the requested digital item only in the former case. A straightforward application of bogus transactions involving no-valued e-coins is the masking of consumption patterns. This new paradigm has also proven its validity in the scope of privacy-preserving pay-by-phone parking systems, and we believe it can become a very versatile building block in the design of privacy-preserving protocols in other areas of research. This paper provides a formal description of the new paradigm, including the features required for each of its components together with a formal analysis of its security.

Automated Teller Machine-Based Voting System

Voting is a critical element of any election which involves the processes of electing leaders or representatives into positions of authority in a democratic system of government. In most developing countries of the world, this process is usually marred with challenges of confidentiality, integrity, availability and auditability such as falsification of results, identity theft, theft of ballot boxes, multiple voting problems, over voting, and electoral fraud. This paper presents a framework for Automated Teller Machine-based voting system that solves the aforementioned challenges of the current voting system by using the existing Automated Teller Machines and debit cards issued for voting. Going further to implement the solution proposed in this paper will enhance and guarantee the credibility of the electoral processes and show a true reflection of the wishes of the people.