We apologize for a recent technical issue with our email system, which temporarily affected account activations. Accounts have now been activated. Authors may proceed with paper submissions. PhDFocusTM
CFP last date
20 November 2024
Call for Paper
December Edition
IJCA solicits high quality original research papers for the upcoming December edition of the journal. The last date of research paper submission is 20 November 2024

Submit your paper
Know more
The week's pick
Responsive image
Improved Shuffled Frog Leaping Algorithm with Self-Adaptive Shuffling for Fuzzy Logic PD+G Controller Optimization in Robotic Manipulators

Duc Hoang Nguyen
Random Articles
Reseach Article

Analysis of Security Issues in Electronic Payment Systems

by Princewill Aigbe, Jackson Akpojaro
journal cover thumbnail

International Journal of Computer Applications
Foundation of Computer Science (FCS), NY, USA
Volume 108 - Number 10
Year of Publication: 2014
Authors: Princewill Aigbe, Jackson Akpojaro
10.5120/18946-9993

Princewill Aigbe, Jackson Akpojaro . Analysis of Security Issues in Electronic Payment Systems. International Journal of Computer Applications. 108, 10 ( December 2014), 10-14. DOI=10.5120/18946-9993

@article{ 10.5120/18946-9993,
author = { Princewill Aigbe, Jackson Akpojaro },
title = { Analysis of Security Issues in Electronic Payment Systems },
journal = { International Journal of Computer Applications },
issue_date = { December 2014 },
volume = { 108 },
number = { 10 },
month = { December },
year = { 2014 },
issn = { 0975-8887 },
pages = { 10-14 },
numpages = {9},
url = { https://ijcaonline.org/archives/volume108/number10/18946-9993/ },
doi = { 10.5120/18946-9993 },
publisher = {Foundation of Computer Science (FCS), NY, USA},
address = {New York, USA}
}
%0 Journal Article
%1 2024-02-06T22:42:36.994489+05:30
%A Princewill Aigbe
%A Jackson Akpojaro
%T Analysis of Security Issues in Electronic Payment Systems
%J International Journal of Computer Applications
%@ 0975-8887
%V 108
%N 10
%P 10-14
%D 2014
%I Foundation of Computer Science (FCS), NY, USA
Abstract

The emergence of e-commerce has created new financial needs that in many cases cannot be effectively fulfilled by the traditional payment systems. Recognizing this, virtually all interested parties are exploring various types of electronic payment systems, issues surrounding electronic payment system and digital currency. Broadly, electronic payment systems can be classified into four categories: online electronic cash system, electronic cheque system, online credit card payment system, and smart cards based electronic payment system. Each payment system has its advantages and disadvantages for the customers and merchants. We highlight the analysis of the security levels in relationship with fraud vulnerability, and determine how this relationship affects or boosts the confidence of the users.

References
  1. Au M. H. , Susilo W. , and Mu Y. 2011. Electronic cash with anonymous user suspicion. In proceeding of the 16th Australasian Conference on Information Security and Privacy (ACISP'11), Melbourne, Australia, LNCS, Vol. 6812, 172–188.
  2. Baldintsi F. and Lysyanskaya A. 2012. On the Security of One-Witness Blind Signature Schemes", IACR Cryptology ePrintArchive.
  3. Batina L. , Hoepman J. H. , Jacobs B. , Mostowski W. , and VullersP. 2010. Developing Efficient Blinded Attribute Certificates onSmart Cards via Pairings. CARDIS, Vol. 6035, 209–222.
  4. Blazy O. , Canard S. , Fuchsbauer G. , Gouget A. , Sibert H. , andTraore J. 2011. Achieving optimal anonymity in transferablee-cash. In Proceeding of the 4th International Conference onCryptology in Africa (AFRICACRYPT'11), Dakar, Senegal,LNCS. Vol. 6737, 206–223.
  5. Canard S. and Gouget A. 2010. Multiple denominations in e-cash with compact transaction data. In Proceeding of the 14thInternational Conference on Financial Cryptography and DataSecurity (FC'10), Tenerife, Canary Islands, LNCS. Vol. 6052,82–97.
  6. Hezlin H. , Balachander K. G. and Mohan V. A. 2011. Evidenceof Firms' Perceptions toward Electronic Payment Systems (EPS)in Malaysia. International Journal of Business and Information, 6(2).
  7. Jun S. and Punit A. 2011. The more secure the better: A study of information security readiness. Industrial Management and Data Systems. 111(4), 570-588.
  8. Leeuwen V. 2009. A Surge in Credit Card Fraud. H. Financial Review, p. 49.
  9. Mahen K. S. 2009. E-cheque System in India: A Distant Reality. National Law Institute University, Blogal.
  10. Mehdi M. and Nasser M. 2014. Security Evaluation of web-based electronic payment systems. New York Science Journal, 7(6), 37-48.
  11. Mohammad M. and Abdallah S. 2011. Empirical Study in the Security of Electronic Payment Systems. IJCSI Journal of Computer Science Issues,8(4), 56 - 68.
  12. Murthy, C. S. V. 2002. E-Commerce Concepts, Models, and Strategies. New Delhi, Himalaya Publishing House, p. 626.
  13. Nishide S. and Sakurai K. 2011. Security offline Anonymous Electronic Cash Systems against insider attacks by untrusted Authorities revisited. In Proceeding of the 3rd International Conference on Intelligent Networking and Collaborative Systems (INCoS'11), Fukuoka, Japan. IEEE, pp. 656–661.
  14. Oh, S. , Karina S. , Johnston R. B. , Lee H. and Lim B. 2006. A Stakeholder Perspective on Successful Electronic Payment Systems Diffusion. Hawaii International Conference on System Sciences (HICSS – 39), Hawaii.
  15. Perlman R. J, Kaufman C. and Perlner R. A. 2010. Privacy- preserving and Trust. In Proceeding of the 9th Symposium on Identity and Trust on the Internet (IDtrust'10), Gaithersburg, Maryland, USA. ACM, pp. 69–83.
  16. Rehman S. U, Wasi S. and Siddiqui J. A. 2009. Towards an easy to pay system (ETPS) for e-commerce. International Conference on E-Business and Information System Security.
  17. Refka A. , Marc P. , and Olivier B. 2011. Integration of New Electronic Payment Systems into B2C Internet Commerce. The International Symposium on Collaborative Technologies and Systems (CTS), Philadelphia, United States.
  18. Samsudin W. and Khaled M. 2011. The influence of perceived privacy on customer loyalty in mobile phone services: An Empirical Research in Jordan. IJCSI, 8(2), 45-52.
  19. Saurabh V. , Ranali P. , Mahesh S. and Priyanka R. 2014. Android – Based Mobile Payment System Using Three – Factor Authentication. International Journal of Emerging Technology and Advance Engineering, 4(3), 797 – 801.
  20. Shieh W. G. and Horng W. B. 2010. Security Analysis and Improvement of the Remote user Authentication Scheme without using Smart Cards. ICIC Express Letters, 4(6(B)), 2431-2436.
  21. Smita P. and Noumita D. 2014. Study and Implementation of Multi-Criterion Authentication Approach to Secure Mobile Payment System. International Journal of Engineering Science And Advanced Technology (IJEAST), 3(3), 117-122.
  22. Sumanjeet S. 2009. Emergence of Payment Systems in the Age of Electronic Commerce: The tale of Art. Asia Pacific Journal of Finance and Banking Research, 5(3).
  23. Tao W. , Shin N. and Kim K. S. 2011. An Empirical Study of Customers' perceptions of Security and Trust in E-payment Systems. Electronic Commerce Research and Applications, 9(1), 84–95.
  24. Yang J. H. and Chang C. C. 2010. An efficient fair electronic payment system based upon non-signature authenticated encryption scheme. International Journal of Innovative Computing, Information and Control, 5(11(A)), 3861-3873.
  25. Ziba E. and Melidi T. 2011. A New untraceable off-line Electronic Cash System. Electronic Commerce Research and Applications, pp. 59-66.
  26. Zielke B. 2011. Why Credit Cards are not the Future of Online Payment. Javelin and Strategy Research.
  27. Osuagwu, P. 2014. Lack of Strategic Investors, bane of Nigeria's e-commerce Growth. Vanguard, Wednesday, October 15, 2014, p. 25.
Index Terms

Computer Science
Information Sciences

Keywords

eCash credit card payment system vulnerability digital signature biometric finger print merchant

Powered by PhDFocusTM