Secure Online Transactions Research Articles

Building Financial Awareness and Personal Branding: Strategies to Avoid Riba and High-Risk Online Transactions

In the face of increasing financial complexities and digital transaction risks, a workshop and mentoring program was conducted by Universitas Muhammadiyah Surakarta (UMS) in collaboration with MSU, PCIM-PCIA Malaysia, and PRIM-PRIA Malaysia to enhance financial literacy, personal branding skills, and awareness of secure online transactions. Engaging 38 participants, the program utilized an interactive learning model—comprising pre-tests, visual presentations, case simulations, group discussions, and post-tests—to cover topics such as professional identity building, Islamic financial principles to avoid riba, and strategies to counter digital fraud. The pre-test results revealed an average score of 53.2, indicating a low-to-moderate understanding, while the post-test results showed significant improvement, with an average score of 82.1. Participants demonstrated improved abilities in identifying online transaction risks, recognizing forms of riba, and applying strategic personal branding techniques. This initiative effectively addressed critical challenges in financial literacy and digital security, while also offering a replicable educational model. The outcomes contribute to fostering financially aware, digitally secure, and professionally resilient individuals, equipping them to thrive in a globalized economic and digital environment

The Impact of Economic Growth and Foreign Investment on the Advancement of E-commerce

This study examines the interrelationship between economic growth, foreign investment, and e-commerce development in Kyrgyzstan from 2010 to 2022. Using correlation and regression analyses, the research reveals a strong positive relationship between foreign investment and GDP growth, with a 1% change in foreign investment corresponding to a 0.86% change in GDP. The study finds that increased investment and economic growth in key sectors such as information and communication, financial intermediation, and trade have significantly contributed to e-commerce expansion. This is evidenced by increases in Internet access points, mobile subscriptions, and bank card circulation. The research utilizes the UNCTAD B2C E-commerce Index to track Kyrgyzstan's progress in e-commerce readiness, showing improvements correlating with economic and investment growth. Practical implications for policymakers were created. It is recommended to prioritize policies that attract foreign investment, particularly in ICT, financial services, and trade sectors to stimulate e-commerce growth; develop targeted strategies to improve digital infrastructure and increase internet accessibility nationwide; implement regulations that facilitate secure online transactions and protect consumer rights in e-commerce; invest in digital literacy programs to increase e-commerce adoption among the population; create incentives for businesses to develop online platforms and integrate e-commerce into their operations; foster partnerships between foreign investors and local businesses to transfer knowledge and technology in e-commerce.

Revolutionizing Financial Risk Management: Blockchain's Role in Transforming Global Banking Systems

The rapid advancement of digital technologies has revolutionized global banking, with blockchain technology emerging as a transformative tool for financial risk management. Its decentralized, immutable, and transparent framework offers fraud prevention, operational risk mitigation, and enhanced regulatory compliance benefits. However, its role in addressing pandemic-induced uncertainties and complex risk management challenges remains insufficiently explored. This study aims to analyze blockchain's transformative role in financial risk management within global banking, focusing on its adoption during and after the COVID-19 pandemic. Method: Using a Systematic Literature Review (SLR) methodology, the research synthesizes findings from peer-reviewed articles and industry reports published between 2018 and 2024.The results reveal that blockchain reduces fraud risks through immutable records, improves operational efficiency via smart contracts, and enhances compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. It also strengthens resilience by mitigating risks from central system failures and enabling real-time monitoring of financial transactions. Despite these advantages, challenges like scalability issues and fragmented global regulations limit its adoption. During the pandemic, blockchain demonstrated its crisis-resilient potential by enabling secure online transactions and real-time fraud detection. The study concludes that blockchain offers transformative benefits for financial risk management. However, its broader adoption requires strategic interventions, such as unified regulatory frameworks, scalability solutions, and sandbox environments to foster innovation. Addressing these challenges could unlock blockchain’s full potential in reshaping global banking with enhanced transparency.

Factors Affecting the Internet Banking Adoption in Kathmandu Valley

In the rapid evolution of digital technology, the adoption of internet banking has become a crucial component of modern banking services. This paradigm shift towards digitization necessitates understanding the factors influencing internet banking adoption. This study aims to promote extensive adoption of internet banking in the Kathmandu Valley, encouraging financial inclusion and technological advancement in the region. This study examined factors influencing internet banking adoption among SMEs using an explanatory research design and the TAM theory, testing seven hypotheses. Data were gathered from 280 SMEs using a structured questionnaire administered through Kobo Toolbox and analyzed with Partial Least Squares Structural Equation Modeling (PLS-SEM) version 4.0. The results indicate that perceived usefulness, ease of use, and risk significantly impact the intention to use internet banking. Perceived usefulness serves as a mediator between ease of use and subjective norm, influencing their impact on the intention to use. The key challenges identified include system errors, security concerns, trust issues, lack of innovativeness, limited technology access, and awareness gaps. The study suggests the importance of user education, interface simplification, personalization, and enhanced user support to improve secure online transactions.

The Role of QR Code Technology in Revolutionizing Banking

The financial services industry has undergone a significant digital revolution, with QR code technology playing a crucial role in the development of the banking sector. Evolving from basic barcodes, QR codes have become essential tools for identity verification, secure online transactions, and financial account management. They represent a shift from conventional banking practices, offering enhanced security and user convenience. In banking, QR codes are used for account management, payments, and robust security protocols. The widespread adoption of QR codes has transformed how customers interact with banks and has led to stronger security measures for online banking. This article examines the growing use of QR codes in banking, highlighting the convenience, security, and improved customer experience these codes offer. The increasing importance of QR technology in banking is further demonstrated by emerging trends such as Data Matrix QR Codes, Blockchain-Enabled QR Codes, Secure Timestamping, Encryption, and Dynamic QR Codes.

Implementasi Teknologi Pengenalan Wajah Untuk Login Website Chic Glasses Berbasis Convolutional Neural Network(CNN)

The research discussed the development of a face recognition technology for the login system of an e-commerce website. The study's main focus was enhancing the security and efficiency of online transactions through the use of biometric identification systems. The researchers implemented a Face Recognition Login Website using a CNN, known for its ability to extract features and classify faces effectively. The research involved various stages, such as data collection through a web camera, data pre-processing, and the design of a CNN architecture with feature learning and classification layers. By deploying this CNN-based facial recognition technology on e-commerce websites, the researchers expect to add an extra layer of security, boost user trust, and offer a safer and more convenient online transaction experience.

Network Based Feature Extraction Method for Fraud Detection Using Label Propagation

Abstract: Nowadays, judging the current transaction based on user history transactions is an important detection method. However, different users have different transaction behaviors, when all users use the same limit to judge whether the transaction is abnormal, it will result in higher misjudgment for some users. Aiming at the above problems, this paper proposes an individual behavior transaction detection method based on hypersphere model. In this model, considering multiple dimensions of normal historical transaction records, the characteristics of user’s transaction behavior is generated with the trend of transaction. Then, the user optimal risk threshold algorithm is proposed to determine the optimal risk threshold for each user. Finally combining the transaction behavior and the optimal risk threshold, the user behavior benchmark is formed, which is used to construct the multidimensional hypersphere model. On this basis, a mapping method for transforming transaction detection into midpoint in multidimensional space is proposed. The experiment proves that the proposed method is superior to other models, and it is found that the characterization effect of user behavior is related to the frequency of users’ transactions. Applied computing → Secure online transactions; Digital cash; Computing methodologies → Instance-based learning; Rule learning

Fort-Trust: Safeguarding online transaction by machine learning

In the digital age, the safety of online transactions has become an important situation for both customers and groups. The increasing sophistication of cyber-attacks necessitates the development of robust and sensible protection mechanisms. "Citadel-believe: Safeguarding online Transactions through device gaining knowledge of" proposes a complete solution leveraging machine studying techniques to decorate the safety of online financial transactions. This method aims to stumble on and mitigate fraudulent activities in real time, presenting a further layer of safety past conventional techniques. e-commerce has completely changed the way people shop, it has also made people more susceptible to online transaction fraud. This problem is addressed by the innovative framework Fort-Trust, which uses the XGBoost algorithm for fraud detection. Fort-Trust incorporates feature correlation analysis to solve a prevalent problem in this field: imbalanced datasets. This strategy aims to maximize detection accuracy while minimizing false positives. The high precision rate that XGBoost delivers, according to the results, is essential for lowering financial losses and increasing user confidence. All things considered, Fort-Trust strengthens the security and dependability of online transactions by providing a strong and useful solution for real-world fraud detection

The Effect Of Customer Satisfaction And Trust On Customer Loyalty In The Shopee Marketplace

This research aims to test the influence of trust and customer satisfaction on customer loyalty, test the influence of trust on customer loyalty and test the influence of customer satisfaction on customer loyalty. This research uses a quantitative descriptive method by distributing questionnaires via Google Form with purposive sampling, namely Shopee users as an online shopping platform for consumers in Depok. A purposive sampling method of 150 respondents was used for the sampling. SPSS 26 was used to calculate the multiple linear regression variable test to analyze the research data results. The research results show that customer satisfaction and trust are important in forming customer loyalty to Shopee. Factors such as ease of use, wide product selection, responsive customer service, and security of online transactions influence customer satisfaction levels. In addition, customer trust in the security of online transactions and product quality also plays a key role in building long-term relationships between customers and e-commerce platforms. The R square value of 0.725 indicates that most of the variation in customer loyalty levels can be explained by customer satisfaction and trust in Shopee in Depok. At the same time, the rest is influenced by other factors, such as quality. Product and brand preferences.

E-Wallet Security Readiness: A Survey

The repercussions of the 2008 financial crisis, growing regulation, and the digital revolution are just a few of the reasons that have caused major changes in the banking and financial sectors in recent years. The fintech phenomenon has emerged as a result of this change, completely altering the way financial services are provided and used. The development of E-wallet security is a key component of this change. The goal of this thorough review is to investigate how E-wallet security has developed, looking at the difficulties, innovations, and potential directions in online transaction security. The article gives a general review of fintech, e-wallets, and electronic payment systems while highlighting the significance of security precautions in safeguarding private financial data. The survey also identifies the risks—such as device, network, platform, and service risks—that come with digital payments. In order to guarantee the security of digital payment systems, it also covers the importance of strong security measures, encryption, data protection, and user awareness. Recommendations for strengthening online payment security and guarding against unwanted access to personal accounts are included in the survey's conclusion.

Transaction fraud detection by CatBoost model with feature engineering

In the digital era, the ubiquitous nature of online transactions has placed a spotlight on the imperative for robust fraud detection systems. This research tackles this pressing issue, with a particular emphasis on the nuanced process of feature engineering tailored for the IEEE-CIS dataset, a representative sample of contemporary transactional behaviors. The enhancement of data attributes, through meticulous feature engineering, acts as the bedrock for the application of the CatBoost model - a gradient-boosting technique revered for its precision. The paper dedicates significant attention to both these pivotal stages, showcasing the synergistic effect they have when applied in tandem. With this refined data and sophisticated modeling, the proposed method manifests exceptional performance, establishing a new benchmark when juxtaposed with other gradient-boosting methodologies. Conclusively, this study offers valuable insights for enhancing online transaction security and sets the stage for further innovation in fraud detection within the machine learning community.

Cashless Policy and Economic Growth in Nigeria

The impeding infrastructural decay, inefficient security system on financial information and the high rate of cybercrime impedes efficient and effective electronic payment system which in turn affects the attainment of objective of cashless policy in Nigeria. In view of this, this study examined the relationship between cashless policy and economic growth of Nigeria. Specifically, the study aimed at ascertaining the relationship between web-based transactions, POS transactions and ATM transactions with real GDP of Nigeria over a period of 10 years (2013-2022). This study adopted the ex-post facto design with data obtained from the Nigerian Stock Exchange fact books, National Bureau of statistics (NBS) and Central Bank of Nigeria statistical bulletins for the various years under study. The collected data for this study were computed and analyzed using descriptive statistics and multiple linear regression tools with the aid of SPSS 20.0 software. The findings revealed that POS transactions and ATM transactions have an insignificant positive relationship with real GDP while web-based transactions showed an insignificant inverse relationship. Based on the analysis of variance (ANOVA), the F-change test suggests that the model is statistically significant (p-value = 0.020<0.05). This implies that the joint effect of the predictor variables is statistically significant. In view of this, it is however concluded that cashless policy plays a critical role in improving the economic growth of Nigeria. The study recommended, amongst others, that policymakers should prioritize initiatives that promote secure online transactions, such as implementing robust cyber security measures and ensuring a reliable internet infrastructure.

Adoption of Fintech in Malaysia: An Analysis of Security, Innovation, and Perceived Benefits

The rapid advancements of Industrial Revolution 4.0 have transformed various aspects of daily life, particularly in financial technology (Fintech). While Fintech offers benefits such as time efficiency, transaction flexibility, and service convenience, security risks associated with mobile applications remain a significant concern for both users and innovators. As the demand for secure digital financial solutions grows, driven by a tech-savvy population, innovations such as advanced encryption technologies and the widespread adoption of mobile apps and digital wallets have enhanced the security and trustworthiness of online transactions. This study aims to explore the key factors influencing Fintech usage from the perspective of individuals, with a focus on a youthful, tech-savvy population in Klang Valley, Malaysia. Data was collected through an online survey of 300 respondents and analyzed using SPSS (Version 27) through descriptive and multiple regression methods. The results indicate that security, innovativeness, and perceived benefits are significant predictors of Fintech usage in Klang Valley, Malaysia. These findings suggest that financial institutions play a pivotal role in promoting digital literacy and fostering greater Fintech adoption. Furthermore, the government should accelerate improvements in ICT infrastructure, expand mobile broadband access, support Fintech start-ups, provide regulatory sandboxes, and encourage financial institutions to develop innovative solutions for underserved populations. These insights are valuable for regulators, policymakers, financial institutions, and the public, highlighting the importance of building user trust through enhanced security measures and promoting the practical benefits of Fintech services. Future research should examine additional factors such as financial literacy and regulatory awareness, and longitudinal studies could offer a deeper understanding of the evolving role of Fintech in daily life.

An End-to-End OCR-Free Solution For Identity Document Information Extraction

Efficiently verifying the customer’s identity is essential for ensuring the security of online transactions. Such verification is mainly accomplished according to the widespread Know Your Client (KYC) protocol, which relies on a self-identification handled by the user, typically providing personal data from their identification document (ID). In the current digital communication generation, such a task is usually performed by uploading a digital copy of the document by scanning or taking a real-time picture from a personal device such as a smartphone or tablet. Such activity, which usually involves manual data entry, is time-consuming and prone to human errors. Document Understanding (DU) has emerged as a crucial factor for automating data extraction in this scenario. One of its main challenges is the scarcity of data, which is barely available for security and privacy concerns. To this end, this paper proposes a solution that takes advantage of recent advances in DU to devise an innovative strategy for Identity Document Recognition (IDR), i.e., the task aimed at automatically understanding, extracting, and transcribing the fields of an ID card. We devised a two-stage approach based on fine-tuning a pre-trained model on synthetic and real-world data. We also developed a dedicated synthetic data generation tool to support the IDR process. Experimental results demonstrated the effectiveness of our methodology.

Evaluating E-Commerce Engagement Factors In Saudi Arabia: Financial Loss, Identity Theft And Privacy Policies

Purpose: The purpose of this study is to investigate the influence of financial loss, identity theft, and privacy protection policies on the willingness of tourists in Saudi Arabia to engage in e-commerce. Theoretical framework: This study examines Saudi Arabian visitors' use of e-commerce, highlighting the consequences of financial loss, identity theft, and privacy laws. The study employs Smart PLS and structured questionnaires, underpinned by a theoretical framework of trust and security, to uncover heightened fears over online identity theft. Policies protecting privacy become essential, boosting customer confidence and promoting e-commerce. The study adds to the scant amount of information in this field by emphasising the role that regulations play in maintaining transaction security and promoting user confidence. Design/Methodology/Approach: This study used a quantitative research methodology to examine the relationship between financial loss, identity theft, privacy protection policies, and the willingness to engage in e-commerce in Saudi Arabia. Structured questionnaires were used to gather data, and Smart PLS was used to analyse the results using Structural Equation Modelling (SEM). Findings: The study reveals that Saudi Arabian tourists express more concern about online identity theft than financial loss. Privacy protection policies play a pivotal role in enhancing their trust and participation in e-commerce, underscoring the importance of regulatory measures for ensuring user confidence and online transaction security. Research, Practical & Social implications: This study highlights the unique worries that Saudi Arabian internet customers have, prioritising identity theft over money loss. Policies protecting privacy become an important middleman that is essential to fostering trust and promoting e-commerce. The findings encourage more investigation into the fundamental elements influencing user choices in study. Practically speaking, companies may improve tactics by giving strong privacy safeguards top priority. In order to promote a safe and reliable e-commerce environment that benefits customers and the expansion of Saudi Arabia's online market, it is socially vital to advocate for explicit privacy legislation. Originality/value: This study is a pioneering attempt to investigate Saudi Arabian tourists' e-commerce behaviour. It adds to the scarce body of knowledge in this area by illuminating the importance of privacy protection policies in fostering consumer trust.

Implementing Number Theory in Visual Cryptography for Secure Online Transactions using QR Codes

Abstract: In this modern world, due to the excessive availability of the Internet, it is extremely easy for people to communicate and share multimedia contents with each other. Moreover, Online Transactions has also been widely developed, in which secure means of data transfer play the major role. At the same time, secure transfer of personal and copyrighted data has become a critical issue. Visual cryptography (VC) is a useful tool for securing data (i.e. images, texts) that contain sensitive information. As a subset of secret sharing, VC has got importance for its security mechanism, which takes into account both image processing and cryptography. To achieve this goal, we manipulate quick response (QR) code as a container. QR codes generated by a certain system can carry its ordinary message in addition to the secure data. Anyone can read the message, but the secure data can only be obtained using a secret key. In this paper, a specified field of Mathematics, Number Theory is implemented in the concepts of VC for the secure online transactions which is achieved using QR codes.

Peran Analisis Pemanfaatan Situs Jejaring Sosial Facebook Sebagai Media Promosi Situs P-Store.net (Studi Kasus: PT. Trijaya Digital Grup)

The Getting service quality in the marketing field is not only done by physically meeting between customers and service providers, such as conventional market systems. In modern society that wants to be fast and instant, time constraints are the reason for customers to shop in the current system. With a modern marketing system with the application of internet technology called Internet Marketing, time constraints can be minimized. The modern marketing system will shorten the distance between customers and department stores, especially only in home shopping. Satisfied customers will recommend their experience to their community, both in online and face-to-face communities. Studying and analyzing the online store network P-store.net, which is engaged in the business of marketplace services and online transaction security services, produces findings that promotions carried out using social media, namely Facebook, can increase the number of deals or transactions. Qualitative analysis of P-Store.net, there are several important factors, namely: promotional techniques, service quality and the use of facebook social media networks. The results of this study show an increase in the number of users of the P-Store site which has fluctuated in the last five years from 2018 to 2022.

Pengaruh Website Design, Informativeness, dan Security of Online Transaction terhadap Customer Satisfaction

This article was written based on the results of research on the influence of website design, 
 informativeness, and security of online transactions through the website on the customer satisfaction. The website 
 researched is www.ucareindonesia.org which is organized by the Ukhuwah Care Indonesia Institute as an Amil 
 Zakat Institution in Bekasi City. The method used is a survey of Ucare Indonesia customers (visitors) on the 
 website www.ucareindonesia.org with the multiple linear regression analysis techniques. The sample was selected 
 using a the purposive technique with the criteria being an active customer to donate. The results showed that the 
 website design and informativeness of www.ucare indonesia.org had an effect on customer satisfaction. However, 
 the security of online transaction website variable has no effect. The contribution of the influence of the three 
 variables simultaneously is equal to 57%.

A Novel Color Visual Cryptography Approach Based on Harris Hawks Optimization Algorithm

Hundreds of millions of people worldwide use computing devices and services, including smartphones, laptops, and messaging apps. Visual cryptography (VC) is one of the most secure encryption methods for image encryption in many applications, such as voting security, online transaction security, and privacy protection. An essential step in VC is encrypting secret images into multiple digital shares to hide them with the intention of successfully reverting them to their original form. Hence, a single share cannot reveal information about the secret image. Issues including pixel enlargement, high processing costs, and low decryption quality influence the current state of VC. We address these issues by introducing a novel technique based on (2, 2) secret sharing and the algorithm of Harris hawks optimization (HHO) for color photos. For the encryption process, the appropriate color levels are determined using the HHO algorithm. Consequently, images are decrypted with improved quality and a small impact on the overall processing complexity. The suggested scheme is also non-expandable due to the equal size of the initial secret image and the shared images. This results in lower memory requirements and improved image quality. The approach is applied to a set of well-known benchmark images. Moreover, a set of standard metrics is used to assess the robustness of the proposed scheme, including its capability in defending against cryptanalytic attacks, a correlation, a histogram, and the quality of encryption. According to the findings, the proposed solution provides better reconstructed image quality, time-efficient encryption, and nearly optimal statistical properties compared to previous approaches.

Credit Card Fraud Detection Using Machine Learning and Blockchain

Abstract: This paper proposes a secure fraud detection model that combines machine learning algorithms and blockchain technology. According to the study it notes that while blockchain is considered a secure method of integration into finance, fraud and anomalies are still common in the network. To address this, the we use two machine learning algorithms, XGboost and KMeans classifier, to classify transactions based on patterns of fraudulent and legitimate transactions .The transaction data is also classified by supervised machine learning algorithms like Random forests and Decision Tree Classifier . The proposed model integrates these algorithms with blockchain technology to detect fraudulent transactions in the Etherium network . The paper includes a security analysis of the proposed smart contract and an attacker model to protect the system from potential attacks and vulnerabilities. The precision and AUC of the models are also calculated to measure the accuracy of the system. Overall, the paper proposes an innovative approach to addressing fraud and anomalies in the network using machine learning and blockchain technology. The integration of these technologies has the potential to improve the security of online transactions and e-banking systems.