Secure Payment Research Articles

RAMRSP AIRLINE TICKET SALES SYSTEM DESIGN

The RAMRSP Airplane Ticket Sales System Design is an exploratory study aimed at developing an airplane ticket sales platform to enhance efficiency and integration in the flight ticket booking process. This system presents solutions that encompass a variety of outstanding features, such as accurate route search capabilities, ticket choices from various airlines, secure payment methods, as well as integration with travel agents and various payment options. Moreover, the system also pays attention to purchase notifications and confirmations, along with customer data management, to ensure an optimal ticket booking experience. At its core, the emphasis in this system design lies in stringent data security aspects, scalability capabilities, and a user-friendly interface. By adopting this holistic approach, it is expected that the system will deliver an integrated and secure experience for users throughout the airplane ticket booking process.

DIGITAL CURRENCIES, SWOT ANALYSIS

Abstract. The paper highlights the increased international trade and discussion in recent years of digital currencies, also known as virtual currencies or cryptocurrencies, including the bilateral trade coin bitcoin (BTC). Scholars have emphasised the need to consider different preconditions, focusing primarily on domestic perspectives of payment intermediation within individual countries. The inclusion of digital currencies in global trade is motivated by the recognition that time is playing an increasingly important role in trade dynamics. Scholars have presented arguments on the potential impact of CBDCs (central bank digital currencies), highlighting their ability to facilitate secure and seamless payment transactions in line with the primary objective of central banks. Conversely, sceptics argue that the mere issuance of CBDCs can potentially undermine the stability of the financial system. High interest rates tend to reduce the amount of cash in circulation. Therefore, higher interest rates do not stimulate digital currencies as investors seek to keep their funds tied up rather than floating. The purpose of this research is to consider the concept of digital currencies in global trade, reflecting the increasing importance of time in trade. Older generations have been reluctant to embrace this new way of doing business, and many questions have arisen. For example, digital currencies compete with traditional currencies, making government control difficult. There are also issues of trust, credibility, volatility, use across countries, use across time zones, trading time, uncertainty, disruption to current centralised economic systems, lender of last resort in the form of a central bank, as well as distance and culture in international trade. The methodology used is the well-known and classic SWOT analysis, which provides tools for analysing the pros and cons of digital currencies. It sheds light on the advantages and disadvantages of digital currencies, including strengths, weaknesses, opportunities and threats. The results vary depending on the weight of the four measures provided. The practical implications are that it is important to be aware of the measured factors when trading: Strengths, Weaknesses, Opportunities and Threats. Finally, it is believed that the value/originality of the research sheds light on issues that people need to be aware of when considering entering into a transaction using some form of digital currency.

A Comprehensive Review of E-service Quality and Comparative Study Between Online Pharmacies in India: 1mg and PharmEasy

E-pharmacies have become the latest trend all over the world, especially since the COVID-19 pandemic started in 2019. While buying online, along with the products/medicines in case of e-pharmacies, people also expect a user-friendly website, prompt and safe delivery, data and payment security, and convenient customer services. Hence, e-pharmacy organizations should satisfy all these factors to be the best in the market, enhance customer experience, and increase customer’s repurchasing intentions. The objective of this research is to compare the e-service quality between two of the top e-pharmacies in India—Tata 1mg and API Holdings Private Limited’s PharmEasy—using the e-service quality hierarchical model developed by Blut (2016). E-service quality is evaluated and compared using the following dimensions: website/application design, customer service, security/privacy, fulfillment, and overall e-service quality from the consumer’s perspective. Findings of the study reveal that there was no significant difference in the quality of dimensions—website design and customer service between 1mg and PharmEasy—while there is a significant difference in the quality of fulfillment, security/privacy, and overall e-service quality between 1mg and PharmEasy.

PERCEIVED EASE AND SECURITY OF USING QRIS TOWARDS CASHLESS SOCIETY

Purpose: The purpose of the research journal is to investigate the perceptions of accounting students at UPN "Veteran" East Java regarding the implementation of a cashless society. Specifically, the study aims to explore the variables of Perception of Ease of Use of QRIS (Quick Response Code Indonesian Standard) and Perception of Security of QRIS. The researchers want to understand how these perceptions influence the adoption of a cashless society among accounting students.
 Design/methodology/approach: The research study employed a quantitative methodology and was placed during the academic year 2019-2020. The participants in the research were accounting students at UPN "Veteran" East Java. The researchers gathered data from these students and applied the SPSS Ver.26 software for analysis. To explore the connections between the variables of Perception Ease of Using QRIS, Perception of Security QRIS, and adoption a cashless society using multiple linear regression analysis.
 Findings: The study's results demonstrate that the adoption of a cashless society among accounting students at UPN "Veteran" East Java is affected by the perceived easeof using QRIS. That indicates a higher likelihood of embracing a cashless society observed when students perceive QRIS as user-friendly. Furthermore, the research reveals that the perception of QRIS security also play a role in influencing the adoption of a cashless society among accounting students. This suggests that a stronger inclination to embrace a cashless society is associated with perceiving QRIS as a secure payment method.
 Practical implications: The author recommends the government of Bank Indonesia and banking companies in conducting performance evaluations on the importance of QRIS-based payments accompanied by increased promotion and efficiency.
 Originality/value: This research is original and adds new value to the Cashless Society in Indonesia which is influenced by perceptions of convenience and perceptions of security

Analysis of the Role of Notaries in Consumer Protection in Property Transactions

Property transactions are one of the most complex and high-risk transactions for consumers. In property transactions, notaries have an important role in ensuring the validity and protection of consumer rights. However, there have not been many studies that specifically discuss the role of notaries in consumer protection in the context of property transactions. The purpose of this study is to analyze the role of notaries in consumer protection in property transactions. This research utilizes qualitative research methods. Data was collected through in-depth interviews with notaries, and literature study analysis. The data obtained from interviews and literature studies are analyzed qualitatively. Data analysis will involve the process of coding, grouping findings, and discovering themes that emerge from the data. The results show that the notary's role as an independent and neutral party responsible for checking and confirming the legality of property documents, facilitating secure payments, and providing legal advice to consumers is very important in safeguarding consumer interests and protection

CONTACTLESS PAYMENTS FRAUD DETECTION METHODS AND IS SOCIETY PREPARED TO RESIST: A CASE STUDY

The ability to use contactless payment technologies, non-cash payments and credit card payments is becoming almost an essential requirement for consumers and merchants in today's economic conditions. Different market sectors are rapidly adapting to these technologies and looking for the most convenient, secure, and fastest possible solutions that combine intelligent data processing, security, and business management functions. Millions of debit and credit card holders care about secure payments, the businesses that receive these payments are secure in terms of security, and the operators that process such incoming and outgoing payments are interested in innovative solutions that set them apart from the competition. Amid the COVID-19 pandemic, when e-commerce was growing exponentially, the global market for fraud detection and prevention, currently stands at USD 20.9 billion, and is expected to grow, until 2025 will rise to USD 38.2 billion by the end of the year; holds the market at 12.8 % annually. The US remains the dominant region in this market segment, but European countries are also increasingly investing in fraud prevention and detection solutions, which are growing in demand in Europe due to an increase in cybercrime as well as advanced bots and cyber-attack.

The Household Financial Security Through the Prism of the Digital Ruble

The financial and economic activity of Russian private households as a result of the sanctions policy of unfriendly countries underwent significant changes, including a decrease in the level of financial security. It has a negative impact on the financial, credit and budgetary and tax spheres of the domestic economy. The use of new financial technologies and in particular the digital ruble can correct the current negative situation. Having certain signs of cryptocurrency, the digital ruble is able to ensure the financial security of payments and meet modern financial challenges. Changing the functions of money poses serious scientific questions about the use of the digital ruble. The problems of its introduction into the economic process and the peculiarities of its use by private households are considered. The differences between the digital ruble and existing cryptocurrencies, as well as its advantages over the latter have been formed. The impact forecast of new financial technology on private households in the context of financial security has been made.

Cyber security laws and safety in e-commerce in India

In today’s information technology age, the issue of cyber Security is a complicated and fascinating area of law. The phenomenal growth and development of e-commerce in India is astounding. However, with the rising dependence on internet commerce, the dangers of fraud and security and trust problems have become severe impediments. Creating robust legal and regulatory frameworks that meet the growing concerns about online fraud, data security, and intellectual property protection in both local and international business contexts is critical. The e-commerce sector, like any expanding business, confronts various obstacles, primarily due to an inadequate and inefficient legal and regulatory framework that fails to guarantee the rights and duties of all players engaged sufficiently. To protect user data, tackle cyber threats, and maintain customer trust, e-commerce enterprises must comply with legal regulations. In India, cybersecurity governance falls under the Information Technology Act of 2000, regulating e-commerce, electronic contracts, data protection, and cybercrimes. The imminent passage of the Personal Data Protection Bill, 2019, is expected after ongoing review. The Indian Penal Code addresses unauthorized access, hacking, identity theft, phishing, and computer virus dissemination. The Reserve Bank of India oversees online payment and financial security, mandating two-factor authentication, encryption, and secure payment channels. CERT-In coordinates national cybersecurity incidents, while electronic signatures and digital certificates hold legal recognition. Intellectual Property Laws regulate online violations of patents, copyrights, and trademarks. The Indian government also enforces cybersecurity standards for enterprises and organizations, covering IT infrastructure and incident response. Nonetheless, further steps must be taken to improve the efficiency of India’s cyber security regulations. This research study uses a doctrinal and analytical approach to examine India’s present Cyber Security Laws and Guidelines. It assesses their effectiveness in addressing legal concerns with Security, privacy, and data protection inside the country. It also evaluates the legal structure that governs the link between e-commerce and Cyber Laws in India. This research will provide a thorough overview of the present condition of cyber security regulations in India, setting the way for prospective reforms and progress in this critical area.

The Fintech Revolution: Innovations Reshaping the Financial Industry

This paper aims to explore the synergy between online payment development, P2P lending, artificial intelligence, and blockchain, and their potential impact on the financial industry. Online payment development, P2P lending, artificial intelligence, and blockchain are all key trends in the financial industry that have been rapidly evolving in recent years. However, there has been limited research that explores the synergy between these trends. The paper provides a comprehensive review of the literature and analyzes the interdependence between online payment development, P2P lending, artificial intelligence, and blockchain. The study also highlights how the convergence of these trends can revolutionize the financial industry by enabling faster and more secure transactions, better risk management, and improved customer experiences. The study finds that online payment development and P2P lending have a strong relationship, as they both rely on digital platforms and enable individuals to conduct transactions without intermediaries. Artificial intelligence and blockchain are emerging technologies that can enhance the efficiency and security of online payments and P2P lending. The study also identifies various challenges, including regulatory issues, privacy concerns, and the need for standardization, that need to be addressed for the full potential of these technologies to be realized. In conclusion, this paper provides insights into the emerging trends in the financial industry and highlights the potential of online payment development, P2P lending, artificial intelligence, and blockchain to transform the financial landscape. The findings of this study can inform policymakers, financial institutions, and investors about the opportunities and challenges of these trends.

The Future of Finance: Fintech and Digital Transformation

The realm of financial technology, or fintech, has been increasingly gaining attention and interest as it pertains to the integration of technology in financial services. This paper endeavors to provide an overview of various facets of fintech, including its impact on online payments, Peer-to-Peer (P2P) lending, Robo-advice, and blockchain technology. One significant effect of fintech is observed in the area of online payments, where traditional banking methods are being substituted with more advanced online payment systems. Fintech has emerged as a promising solution to the challenge of convenient, secure, and fast payment transactions for goods and services. P2P lending, another fintech innovation, enables borrowers to obtain loans without having to go through traditional financial institutions. This process has been simplified and made more accessible through the use of fintech platforms that connect borrowers with lenders. The paper also addresses the use of Robo-advice in fintech, which utilizes algorithms and artificial intelligence to provide financial advice to clients. Robo-advice technology has increased accessibility to financial advice for a more extensive range of people, reducing the barriers that might have limited access to this type of financial service. Finally, this paper examines the importance of blockchain technology in fintech, with its potential to streamline processes and ensure security in financial transactions. The decentralized nature of blockchain technology offers a robust solution to financial security, ensuring that transactions are secure, transparent, and immutable. In conclusion, the essay underlines the transformative potential of fintech in the financial industry with its numerous innovations.

Dimensions of Omnichannel Retail Quality on Customer Satisfaction and Loyalty

The shift in consumer shopping from offline to online, and then to a hybrid of the two, combining the benefits of each to overcome the disadvantages of both. This study focuses on the dimensions of omnichannel retail quality. The emphasis is on analyzing consumer behavior in offline, online, and combined omnichannel retail channels. The rapid growth of this retail channel is due in part to the ease and security of payment, though there are still those who use the cash-on-delivery system. The methods employed include a review of the literature on omnichannel research articles, consumer surveys, and data documentation on business phenomena. SEM was used to examine the relationship between IOC, VOC, CS, and CL. The software used is Smart PLS 4. The goal of path modeling, particularly reflective models such as PLS, is to estimate the variance of endogenous constructs, as a result from their respective manifest variables. The findings of this study can be used to test OC intensity and OC shopping value in providing consumers with shopping experiences that result in customer satisfaction and loyalty. Relevant marketing implications and future research are advised.

Online Service Booking Platform with Payment Integration

This research work provides the design and development of an online service booking platform with payment integration. The platform is designed to enable users to book and pay for services such as plumbing and electrical services online from the comfort of their own homes. The system uses HTML, CSS, and PHP to create an intuitive user interface, as well as a secure payment gateway for online transactions. The platform is designed to provide better user experience and the system is designed for both mobile and desktop devices. The study concludes by providing a set of recommendations for future development of the platform, and discusses the potential benefits and challenges of online service booking platforms.

Non-Face-to-Face P2P (Peer-to-Peer) Real-Time Token Payment Blockchain System

With the increase in intelligent voice phishing and the increasing reliance on open banking systems, there has been a rise in cases where individuals’ personal information has been exposed, resulting in significant financial losses for the victims. Non-face-to-face transactions in the financial sector face challenges such as customer identification, ensuring transaction integrity and preventing transaction rejection. Blockchain-based distributed ledgers have been proposed as a solution but their adoption is limited due to the difficulty of managing private keys and the burden of gas fees management. This paper proposes a non-face-to-face P2P real-time token payment system that minimizes the risk of key loss by storing private keys in a keystore file and database through a server-based key management module. The proposed system simplifies token creation and management through a server-based token management module and implements an automatic gas-charging function for smooth token transactions. Transaction integrity and non-repudiation are ensured through a transaction confirmation module that uses transaction IDs without exposing personal information. Furthermore, advanced security measures such as blocking foreign IP access and DDoS defense are implemented to securely protect user data. The proposed system aims to provide a convenient, secure and accessible online payment solution to the public by implementing a self-authentication function using a web application that is not limited to smartphones or application platforms.

An Invitation Model Protocol (IMP) for the Bitcoin Asymmetric Lightning Network

The Lightning Network (LN), a second-layer protocol built atop Bitcoin, promises swift, low-cost transactions, thereby addressing blockchain scalability and enhancing user privacy. As the global financial technology landscape evolves, the LN’s importance in the future of fintech and the Fourth Industrial Revolution (4IR) becomes increasingly pivotal. The anticipated rise of blockchain-based payments and smart contracts in businesses demands a more agile and secure payment system. However, the LN’s early stage raises valid concerns about security and reliability, especially when implemented on a huge asymmetric network such as the Internet, potentially hindering its broader adoption. Malicious nodes could intentionally cause payment failures or initiate attacks, such as DDoS attacks, by overwhelming other nodes in the network with channel-opening requests. As a result, users will be discouraged from using the LN; hence, the technology will become obsolete as individuals will not waste the time and power investment required for using this technology. Addressing these issues, this paper proposes an innovative invitation model protocol (IMP) to reinforce the LN’s security and reliability. The IMP creates an exclusive ‘Club’ within the LN, admitting only nodes verified as honest, thereby bolstering network security and reliability. The protocol empowers Club Founders to expel members exhibiting malicious activities, thereby preserving the invested time, energy, and funds of the network’s users. The IMP was rigorously tested using Amazon Web Services Virtual Machines within the Bitcoin and Lightning Network’s Testnet environment, which is a highly asymmetric network. The results demonstrated the protocol’s efficacy in fulfilling its objectives, marking a significant step towards a safer and more efficient blockchain transaction network. As the blockchain continues to revolutionize the financial sector, implementing robust security measures such as the IMP becomes essential. This research paper introduces a novel approach to enhancing the reliability and security of a Lightning Network (LN), and thus distinguishes itself from the existing literature, by introducing an additional step before establishing or joining such a network. The research underscores the critical role of such protocols in realizing the potential of the LN in powering the next wave of fintech and industrial innovation.

Further Insight into the Usage of Bank Cards Over Cash at the Point-of-Sale?

Abstract The several benefits of e-payment for consumers, businesses, and economies make decreasing or ideally eliminating the use of cash an important concern of governments and policymakers. In several emerging countries, there is substantial evidence that using bank cards for payment in retail Point-Of-Sale is still less popular than cash, especially for small-value purchases. Attitudinal factors are amongst the major understudied motives of bank card payment behavior. Little is known about the effects of perceived benefits of bank card use on trust and the subsequent outputs of this trust. Building on the Technology Acceptance Model and the Theory of Planned Behavior, this research proposes and empirically tests a model explaining the roles of perceived benefits and security in affecting consumer trust and the consequent effect of trust on consumers’ attitudes toward bank card payment. This attitude is supposed to build continued usage of bank cards for in-store payment. Respondents were approached in real conditions where the experience of payment in retail Point-Of-Sale occurs. A questionnaire was administered face-to-face with respondents surveyed before they left several small retail stores such as grocery stores, convenience stores, and minimarkets in Southeast Tunisia. The PLS-SEM results show that consumers have built up trust because of their perceived benefits and security of bank card payments. Trust has a positive effect on consumers’ attitudes toward bank cards. The positive attitude persuades consumers to use bank cards for payment purposes at Point-Of-Sale. The findings help inform the research community by elucidating the nature of the relationships between perceived benefits, perceived security, trust, attitude, and continued payment with bank cards in retail Point-Of-Sale. Governments, financial service providers, and businesses need to focus on developing valuable perceived benefits of using bank cards to increase trust, positive attitude, penetration, and continued customers’ usage of bank cards. This will benefit local and national economies by winning greater market share from cash. The Tunisian context is examined in this research. However, the results might be applied to many other in-developing countries.

Enhancing collaborative apparel consumption model: Quality-driven insights from customers and industry professionals

This study applies the Quality Function Deployment (QFD) method to develop a House of Quality (HoQ) framework for the Collaborative Apparel Consumption (CAC) business. The framework integrates inputs from customers and industry professionals to assess customer requirements and business goal specifications. The research identifies and prioritizes key attributes and design considerations for the CAC platform. The study reveals differences in perspectives between customers and service providers regarding attributes such as site organization, platform responsiveness and agility, legal protection and trustworthiness, peer service provider, and social interaction. Additionally, 14 design considerations are identified, including user-friendly interface, mobile compatibility, personalized recommendation, secure payment system, and customer review and ratings. By comparing customer insights with industry input, the HoQ framework enables the identification of gaps and the establishment of relationships between customer preferences, business requirements, and CAC goals. This research highlights the applicability of the QFD method for developing service designs in the context of collaborative apparel consumption. The findings contribute to enhancing customer satisfaction, improving business performance, and fostering open innovation with customers and industrial professionals in the innovation process.

Card Defender - Credit Card Fraud Detection System

Abstract: As the world becomes increasingly digitized, online transactions have become an indispensable part of our daily lives. The increased use of credit cards for online purchases has resulted in a growing concern about credit card fraud, both for businesses and consumers. To combat this issue, we propose a two-factor authentication system that integrates credit card verification with webcam-based face recognition technology to prevent online transaction fraud. Our system provides a reliable and user-friendly solution for credit card fraud detection using face recognition. By implementing a two-factor authentication process, our system reduces the risk of fraud during online transactions and enhances the overall security of online payments

Token Generation through Cashless Transaction with RFID

Abstract: Digital transformation means the adaptation of the power of new technology to create a better experience for users. As part in the digital world our project aims to create a payment system for students inside the college. So, we have developed a payment system that enables students to pay with their ID cards inside the campus like stationary, canteens, food courts and hostellers can pay their mess bill. Our project utilizes RFID technology and Raspberry Pi to create a seamless payment experience for students using their NFC-enabled student ID cards. Students and cashier can also track their transaction in mobile application that are developed. Also, Students can easily recharge their ID cards using the mobile application. This system provides a user-friendly, efficient, and secure payment option that reduces the need for physical exchange of cash or sensitive payment information while using third party apps.

Legislative Controls Securing Electronic Payment Systems

Generally, money is the backbone of economy, essential for stability of countries, and a token for the national Sovereignty. Historically, coinage was the process by which countries were confirming their Sovereignty that they kept protecting it and used the coins as acceptable method for transactions. In the modern age with the far-reaching technological development, the digital payment has become widely acceptable and commonly used thereby the sort of security required has alo changed. Many countries enacted new laws to enhance security of the electronic payments, particularly with the increased risks of cyber attacks on the national economies in addition to recent pandemic and military tensions witnessed by the world.Therefore, securing the electronic payment is a matter of national economy due to its influence on the Citizenery’s trust in the electronic transactions and the government is responsible to make it secure through the central bank. Considering this perceived importance, the authors addressed in the current study the legal mechanisms to secure the electronic payment systems.

A secure payment channel rebalancing model for layer-2 blockchain

The concept of cryptocurrencies is prevalently used in the financial world. Some of the currencies like Bitcoin and Ethereum have shown promising outputs. The scalability problem of these cryptocurrencies is an ongoing challenge, solved through many facets. Bitcoin Lightning Network, a Layer-2 solution to Bitcoin Network, is an off-chain crypto transaction platform working on payment channels to transact bi-directionally between two parties. When the maximum payments flow is unidirectional, the individual balances of the parties in the direction of payment get exhausted. It results in the transaction failing for future payments in that direction and lowers the feasibility of network usage. In this paper, we propose a heuristic-based distributed solution by preserving the privacy and anonymity of the parties involved in the rebalancing procedure and improving the fund transfer capability of the channels. The rebalancing mechanism has a global solution that can rebalance to the maximum extent and a local solution using a significantly lower fee. Again the indirect and direct rebalancing schemes balance the imbalanced channel and prevent further transaction failure and closure of channels due to insufficient balance. The resultant method also has an updation in the HTLC message exchange protocol to avoid the Flood and Loot attack that may arise to maintain the safe state of every honest participant in the network.