Electronic Payment Methods Research Articles

People identification via tongue print using fine-tuning deep learning

<span>Many person-verification systems are critical in security systems for verifying passage through doors opened to specific people using various techniques. People can use electronic payment methods and security apps to generate codes for quick, remote financial transactions. Older systems required precision and speed. Many alternative methods were developed by technology and artificial intelligence to make such operations simple and quick. The identification of tongue prints is discussed in this paper. Tongue prints, like fingerprints, are unique to each individual. The tongue was used in this study because it is unique among such organs. The tongue is protected by the lips. This guards against taking a tongue print by force. Some people distort their fingerprints, making fingerprint recognition systems unable to recognize them. Car accidents cause facial distortion, which distorts the system and prevents it from distinguishing facial prints, so the tongue was used as a fingerprint in this study. A database of 1,104 images for 138 Mustansiriyah University College of Science students yielded an average of eight images per individual. VGG16 was implemented for transfer learning and fine-tuning. In comparison to previous studies, the accuracy achieved was more than 91%.</span>

Trust and Security Impact on the Customers’ Acceptance of E-Payment in Algeria: An Application of the Extended TAM

The primary objective of this study is to identify the key elements that are strongly associated with the intention of bank customers in Algeria to use electronic payment services.About 150 questionnaires were handed out among the Algerian bank customers by using clustered sampling in order to perform the statistical analysis for data analysis and findings.The Technology Acceptance Model (TAM) was utilized as the theoretical framework for this study.The findings indicate that there is a substantial relationship between trust in online payment and the intention to adopt digital payment methods among bank customers in Algeria. In contrast, the influence of security on the inclination to embrace electronic payment methods was determined to be negligible.This extensive study enhances our knowledge of the key determinants that significantly influence the inclinations of Algerian bank clientele towards adopting digital payment solutions instead of conventional means. The transition towards digital payments offers various benefits, such as enhanced efficiency, time conservation, and cost-efficiency.

An ensemble learning approach for anomaly detection in credit card data with imbalanced and overlapped classes

Electronic payment methods have become increasingly popular for business transactions, both online and in-person, across the globe. Anomalies like online fraud and default payments, which can result in substantial financial losses, have become more common as the usage of credit cards in online purchases has increased. To address this issue, researchers have explored various machine learning models and their ensemble techniques for detecting anomalies in credit card transaction data. However, detecting anomalies in this data can be challenging due to overlapping class samples and an imbalanced class distribution. Therefore, the detection rate of anomalies from minority class samples is relatively low, and general learning algorithms can be biased towards the majority class samples. In this paper, we propose a model called Credit Card Anomaly Detection (CCAD) that leverages the base learners paradigm and meta-learning ensemble techniques to improve the detection rate of credit card anomalies. We utilize four outlier detection algorithms as base learners and XGBoost algorithm as meta learner in the proposed stacked ensemble approach to detect anomaly in credit card transactions. We apply stratified sampling technique and k-fold cross-validation process to address the issues of data imbalance and overfitting. In addition, the discordance rate is calculated to enhance the accuracy of ensemble learning performances. The proposed model is trained and tested using two datasets: CCF (Credit Card Fraud) and CCDP (Credit Card Default Payment). Experimental results demonstrate that our approach outperforms existing approaches, particularly in detecting anomalies from the minority class instances of these datasets.

A Novel Robust Geolocation-Based Multi-Factor Authentication Method for Securing ATM Payment Transactions

Credit/debit cards are a ubiquitous form of payment at present. They offer a number of advantages over cash, including convenience, security, and fraud protection. In contrast, the inherent vulnerabilities of credit/debit cards and transaction methods have led many payment institutions to focus on strengthening the security of these electronic payment methods. Also, the increasing number of electronic payment transactions around the world have led to a corresponding increase in the amount of money lost due to fraud and cybercrime. This loss of money has a significant impact on businesses and consumers, and it necessitates the development of rigid and robust security designs for securing underlying electronic transaction methods. In this regard, this research introduces a novel geolocation-based multi-factor authentication method for improving the security of electronic payment transactions, especially ATM transactions. The proposed method leverages geolocation to verify the user’s identity and prevent fraudulent transactions. In addition, this research also proposes a novel design approach for further controlling the ownership of transactions in a convenient way (e.g., allowing users to deactivate/reactivate authentication at any time, block the card in case it is stolen or lost, and set up a withdrawal limit). Overall, this approach does not require any major modifications to the existing banking infrastructure, which would be an ideal solution for securing ATM transactions around the world.

A Survey and a Credit Card Fraud Detection and Prevention Model using the Decision Tree Algorithm

Today, many people prefer online payment methods due to the rapid growth in cashless electronic transactions. Credit and debit cards are the most popular electronic payment methods but are prone to fraud due to the nature of their use and the tendency of fraudsters to access their details. This study proposes a theoretical credit fraud detection and prevention model using a Decision Tree Algorithm (DCA). Moreover, a survey questionnaire was used to investigate students' perceptions of credit card fraud incidents. Data were collected from 102 students from different universities and countries around the world. The results showed that 95.9% of the respondents knew how credit/debit card fraud occurs, while 4.1% of them did not. Finally, 81.6% expressed their willingness to use a tool based on the proposed model to prevent or detect credit/debit card fraud incidents.

Importance of Electronic Accounting Information Systems in Improving Financial Information Security in Jordanian Electronic Payment and Money Transfer Companies

Purpose: The study aimed to assess the level of effectiveness of electronic accounting information systems in enhancing the security and control of financial information in Jordanian payment and electronic transfer companies and its ability to provide reliability. And analyzing the ability of the system used in the payment and financial transfer companies to meet the operational requirements imposed by the regulators of the sector. Theoretical framework: The theoretical framework dealt with the topics of the study from the security threats of electronic accounting information systems (Jacob, 2012: 67) and the risks of accounting information systems that are related to electronic payment systems, especially information security (Al-Maghribi, 2017). Accounting in reducing the risks of transactions, and the obstacles facing accounting systems in the face of the risks and threats of electronic systems Design/Methodology/Approach: The researcher used the inductive approach by referring to the literature related to the subjects of the study and the deductive approach in the field study by distributing a questionnaire to the electronic payment companies in Jordan. 96 questionnaires were retrieved. Using the spss program to analyze the data and reach the results Findings: The study Fined that there are factors that help to penetrate the accounting information systems in the Jordanian electronic payment and financial transfer companies. Network communication. Electronic accounting information in enhancing the security of financial information and control over it, and there are (obstacles) in providing security requirements and information control, in electronic payment and financial transfer companies related to the rapid development of electronic financial systems and electronic payment methods and their development. Research, practical & social implications: This study is considered one of the important and modern topics because electronic payment processes are considered one of the modern concepts with which many risks are associated. This study sheds light on these risks and threats and the ability of the strong accounting system to confront these threats and risks.. Originality/Value: The results indicate the importance of the topic and the importance of conducting a study on the risks of electronic payment systems, the threats facing the use of electronic payment methods and the obstacles facing accounting information systems in one of the newly established economic sectors in Jordan, which is the electronic payment companies.

Credit Card Fraudulent Transaction Detection and Prevention

Abstract: In recent years, online payment methods have been used widely as an outcome of the rapid increase in non-cash and digital electronic transactions. Credit cards represent one of the electronic payment methods. With the advancement of online payments in various products and services, the likelihood of credit card fraud has risen compared to the decades-long history of credit cards. The credit card frauds can be detected by evaluating the credit card purchasing patterns using the historical data in order to detect the frauds. This data evaluation can help the banks or other organizations offering credit cards to minimize their losses due to the credit card frauds. The historical data evaluation with the current purchasing patterns requires statistical modeling, which can automatically evaluate the fraudulent patterns and alarm the banks about the transactions. This helps the banks for early detection of the frauds, where they can easily eliminate the credit card frauds by declining the suspected transactions. And also blockchain technology is applied to prevent the hacker to view customers details so that fraudsters can't use stolen credit card information to open new accounts, obtain loans, and engage in other illegal activities. Credit card fraud detection and prevention have become essential for banks and other financial institutions to safeguard their customers' financial transactions. This paper presents an overview of credit card fraud detection and prevention techniques.

Evaluation of User Experience on Prepaid Electronic Payment Method for MZ Generation -Focusing on those in their 20s and 30s-

Evaluation of User Experience on Prepaid Electronic Payment Method for MZ Generation -Focusing on those in their 20s and 30s-

Consumer rights protection in digital contracts within the framework of the European Union

Having analyzed the mechanisms of consumer rights protection in the field of concluding electronic contracts, it is noted that there is no separate definition of the concept of this type of contract in EU law, instead the concept of a distance contract is used. EU law regarding the conclusion of contracts in electronic form allows the use of various forms of negotiations between the parties, which is the main feature of this type of contract. From this, we came to the conclusion that in the process of protecting the rights of consumers in the field of electronic commerce, it is appropriate to use the general concept of a distance contract and apply to it the norms arising from the legislation on the protection of consumer rights.
 It is indicated that at the EU level, the system of consumer protection in electronic contracts is horizontal in nature. Thus, the main Directives are Directive 2019/770 «On certain aspects of contracts for the supply of digital content and digital services» and Directive 2019/771 «On certain aspects of contracts for the sale of goods». Together with them, Directive 2011/83 «On Consumer Rights» (CRD) and the new EU Directive «On Better Implementation and Modernization of EU Consumer Rights Protection» (2019/2161/EU) apply when concluding contracts. General EU rules on consumer protection when using electronic payment methods were also established. In January 2018, the existing legal regulation was replaced by Directive No. 2015/2366 «On Payment Services in the Internal Market» (or PSD 2). PSD 2 introduced additional protections for online and mobile payments and strengthened security requirements, which in turn, along with other measures, provided additional guarantees for consumers’ rights to conclude and execute electronic contracts.
 It was noted that the judicial practice of the EU Court in the field of consumer rights protection also allows us to assert a constant increase in attention to ensuring more effective protection of the rights of consumers who are parties to electronic contracts. Among the essential mechanisms for guaranteeing the protection of consumer rights, the durable medium principle, which is widely used in judicial practice, means the possibility of using an electronic means of communication that is considered acceptable for providing information. as it allows the client to store information addressed personally to this client in a way accessible to him and for a period of time sufficient for the purposes of the information and which allows the unchanged reproduction of the stored information.
 The EU Directive «On Better Enforcement and Modernization of EU Consumer Protection» (2019/2161), part of the «New Deal for Consumers» package, improves the rules for digital developments, such as the transparency of online markets, aimed at guaranteeing equal rights of consumers to «free» digital services, ensuring transparency of consumer feedback, ensuring the possibility of submitting claims for price reductions.
 Thus, regulatory regulation and judicial practice in the field of EU consumer rights protection should be taken into account during normative design activities in Ukraine, during bringing legislation into line with EU law, as one of the priority areas of harmonization, and reflecting and taking into account changes in the methods of concluding agreements to guarantee sufficient mechanisms for the protection of consumer rights during the conclusion of electronic contracts.

Application Scenarios, Low-carbon Models and Practical Paths of Green Payments in China

As an infrastructure in the field of green finance, green payment plays an important role in guiding the green-oriented allocation of social resources and the public's awareness of environmental protection, and promoting the greening, recycling and low-carbonization of the production methods of enterprises and the consumption patterns of individuals and households. This paper explores the basis of green payment development in China from five aspects: theory, market, policy, finance and digital ecology, and examines the positioning of green payment to help achieve the goal of "carbon neutrality" at three levels: macro, meso and micro. In the light of the lifestyles of Chinese residents, the specific application scenarios of green payment in China, such as transportation, low-carbon life and paperless payment, are compiled. We use electronic payment methods such as WeChat payment to explore the mode of green payment ecosystem to achieve low-carbon development, and explore the practical path of green payment to help "carbon neutrality" in both broad and narrow sense from the perspective of industrial chain. Finally, the above analysis is combined with the practical significance of green payment for carbon neutrality and the suggestions for the future development of green payment in different dimensions.

ВПЛИВ ІННОВАЦІЙНИХ ТЕХНОЛОГІЙ НА РОЗВИТОК ЕЛЕКТРОННОЇ ТОРГІВЛІ

The article is devoted to the study of ensuring the effectiveness of sales and promotion methods, taking into account the saturation of the market, the ever-increasing level of competition and/or changes in the needs and wishes of consumers and their purchasing power. The fundamentals of next-generation technology that are changing trade flows and global production and distribution are identified. E-commerce is analyzed as a process of buying and selling goods and services on the Internet using electronic payment methods, which includes interaction between the seller and the buyer, ensuring the security of the transaction and ensuring the availability of goods, and the advantages of e-commerce as a type of business activity are characterized and classified by sub-components: sub enterprise, consumer and the state. Research has been analysed that shows that automation and the growth of artificial intelligence are changing trade flows and that the qualification of the workforce, the quality of the infrastructure and access to resources are becoming the determining factors. It was determined that Ukraine has also taken considerable steps within the framework of legislative implementation in matters of e-commerce – in 2021–2022, the Laws "On Mediation" (entered into force), "On Payment Services" (entered into force), "On Cloud Services" (entered into force) were adopted in force), "About virtual assets" (not entered into force). It can also be said that despite the current laws, the factors affecting the further development of the e-commerce sector in Ukraine have not yet been resolved. It has been determined that one of the most important components in bridging the gap between the online and offline shopping experience is payment. The ability to accept various digital payment methods adds convenience and consistency to customer interactions. The volumes of the e-commerce market in the world for 2017–2022 and for the planned years 2023–2027 were analysed in million dollars. USA, the main trends and influencing factors are defined. The technological trends of retail e-commerce that will determine business results in 2023 are presented, and what innovative technologies have an impact on the development of e-commerce are analysed.

A case study of the Adoption of Electronic Payment Methods by Spaza Shop owners in Mkhuhlu Township in South Africa

Purpose: This study aims to investigate the usage of mobile technologies by spaza shop (tuck shop) owners in South Africa. It also evaluates opportunities created using mobile communication.
 Methodology: Interviews were conducted with 110 small, micro, and medium enterprises (SMMEs) operating spaza business shops in Mkhuhlu and Calcutt in the Bushbuckridge Municipality in Mpumalanga, South Africa. Police officers, South Africans, Somalians, and Indians were interviewed. Data was collected through self-completion questionnaires. Interviews were conducted in English as most participants needed help understanding African languages.
 Main Findings: Technological skills are needed for the township business owners. Safety and security must support SMMEs in townships by protecting their owners and resources against criminals. Spaza shop owners must invest in training to advance their business skills and advance in technology to do business.
 Implications: Aligned to the Native-owned spaza shops in the selected townships, informal traders, related businesses, other townships, academics, and policymakers may draw vital lessons from this study
 Novelty: First time this kind of study is being conducted at Bushbuckridge Municipality with spaza shop owners.

The Implications of The Modern Electronic Payment Methods on Reducing Banking Transactions Costs from the Perspective of Sudanese Banks clients

Technological development plays an important role in life today, and its effects extend to economic, social and political aspects. Among the most prominent contributions of this development is technological progress in the field of commerce and electronic payment methods; The banking sector testify a great development in the field of banking services, as this allowed the audience of dealers to conduct purchase and sale operations using modern electronic payment methods. Therefore, the study aimed to identify the impact of modern electronic payment methods on reducing banking transaction costs from the perspective of Sudanese bank clients. Among the most critical findings; Electronic payment methods help strengthen the trend towards e-government by providing the infrastructure for electronic collection. The mobile banking service is considered a good service to contribute to providing financial inclusion, and telecommunications companies have a pivotal and essential role in providing these services. Also, most Sudanese commercial banks provide traditional banking services and don’t offer innovative and attractive banking products to customers.

Adoption et utilisation des paiements électroniques en Algérie: étude empirique de la période (2016-2022)

The purpose of this article is to measure the degree of use of electronic payment in Algeria. To do so, we followed a theoretical and empirical approach of the different indicators of electronic payment in Algeria (online payment and payment on TPE) collected from data of GIE Monetics and SATIM. These statistics cover the annual electronic payment activity from 2016 to 2022. The results clearly indicate a considerable increase in the use of electronic payment methods by Algerian households and businesses, which demonstrates that the Algerian population is increasingly interested in electronic payments

Spaza shops in Townships and Rural areas to switch to electronic payment method to run the business successfully and safe: Case study Mkhuhlu Township, Bushbuckridge Municipality, Mpumalanga in South Africa

Spaza shops in Townships and Rural areas to switch to electronic payment method to run the business successfully and safe: Case study Mkhuhlu Township, Bushbuckridge Municipality, Mpumalanga in South Africa

QRIS Efficiency in Improving Digital Payment Transaction Services for Culinary Micro-Small and Medium Enterprises in Depok City

Currently, one of the most popular electronic payment methods is using QR (Quick Response) code. As the first step transformation in Indonesian Payment System to help accelerate the development of the digital economy and finance, Bank Indonesia has issued QRIS (Quick Response Code Indonesian Standard) as unification of various QR type from various e-wallet that use QR codes. The unification of QR codes is certainly a good breakthrough, but there is fee MDR (Merchant Discount Rate) that is charged to the MSMEs (Micro-Small and Medium Enterprises) if they are using QRIS, that makes problem for them. The main purpose of this research is to analyze the efficiency of QRIS in helping to add payment service to customers in digital payment transaction for MSME. The research method used is a quantitative method by distributing questionnaires to 114 culinary MSMEs in Depok city. The result show that using QRIS makes digital payment for culinary MSMEs in Depok more efficient.

CleverCart: An Eco-Friendly Shopping Self-Checkout System with IoT sensor

CleverCart is an automated shopping cart that uses IoT to connect to users’ phone and act as a personal cashier for customers that are shopping in a grocery store. The CleverCart shopping cart is able to connect to the phone via the CleverCart shopping app. The CleverCart mobile application would be able to connect with the cart by scanning the QR code of the cart once connected, the users are able to scan items that they want to purchase and can proceed to put it in the cart, the weighing sensors installed within the cart will cross check whether the weight of the product scanned and the weight of the product added in the cart should be the same. The app also has features such as “shopping list” that reminds users what items are needed to be purchase and once the customers are finished, they can simply choose an electronic payment method to pay. The purpose behind CleverCart is to minimize human interaction in grocery stores and to speed up payments.

Trust Perception and Payment Method on Marketplace in Indonesia (Study on Shopee)

The rapid development of e-commerce in Indonesia has led to the emergence of competition. One of the e-commerce platforms that is aggressive in promoting and widely used by Indonesian consumers is Shopee. Shopee conducts promotions in Indonesia to bring new shopping experiences to facilitate easy sales and provide shoppers with secure payment processes and integrated logistics arrangements.The research purpose is to determine reputation’s effect, privacy, size, safeguard, web familiarity, and ease in creating a positive effect on confidence; and trust variable will have a positive effect on payment methods using the electronic payment system (EPS), credit cards and cash on delivery on product purchases at online shops in Indonesia. The research methodology uses quantitative methods with a cross-sectional research design by distributing questionnaires online with a Google Form, with 248 respondents. The study led to the findings of the perceptions of trust significantly influenced by security, benefits, and convenience, while reputation, privacy, size, and web familiarization do not affect trust. Furthermore, trust affects the electronic payment method (EPS), credit card, and cash on delivery. The limitation of the study is in the sampling method which covers not all regions in Indonesia. Contribution: as a company, Shopee should maintain security, the benefits, and convenience to develop strategies using electronic payment methods.

CRIMES ASSOCIATED WITH THE USE OF ELECTRONIC PAYMENT MEANS: METHODS AND TRACE INFORMATION

The results of a forensic analysis of typical methods of committing crimes involving the use of electronic payment methods are presented. It is shown that the basis of this criminal activity are the methods of social engineering based on the application of the achievements of modern information and communication technologies, as well as on actions and approaches through which offenders gain unauthorized access to the personal data of the victim. Taking into account the study of the stages of the mechanism of the considered criminal acts, the sources of trace information are formulated, reflecting the processes of interaction of participants in a criminal event with each other and with the environment.

Legislation of Legal Protection for Electronic Banking Operations and Challenges in Jordan

The larger growth in the operations and activities of electronic banks has created new problems for banks and the responsible authorities in the context of the lack of management and those in charge of the banks to qualify, and sufficient practice to catch up with the accelerating technological progress. In addition to the high potential for deception and fraud on open networks internet and this is due to the absence of traditional practices that u to ensure the identity and legitimacy of the client it is worth noting that electronic payment methods have appeared in conjunction with the emergence of e-commerce and have become one of its components and complete its procedures and most important main risks facing the work of electronic banks, which threaten the conduct of banking and financial operations in various countries of the world. The article also touched on the most important risks facing electronic banks, through this study, it aims to shed light on the legal mechanisms of protection in the field of electronic banking transactions given the novelty of the consumer, the seriousness and the lack of texts the legal regulations that govern electronic transactions in general and electronic banking operations in particular, the regulatory legislation issued by the Central Bank of Jordan and dealing with cyber security risks.