Design of a secure unified e-payment system in Nigeria: A case study

The automatic teller machine (ATM) is the most widely used e-Payment instrument in Nigeria. It is responsible for about 89% (in volume) of all e-Payment instruments since 2006 to 2008. Some customers have at least two ATM cards depending on the number of accounts operated by them and they represent the active users of the ATM cards. Furthermore, identity theft has been identified as one of the most prominent problems hindering the wider adoption of e-Business, particularly e-Banking, hence the need for a more secure platform of operation. Therefore, in this paper we propose a unified (single) smart card-based ATM card with biometric-based cash dispenser for all banking transactions. This is to reduce the number of ATM cards carried by an individual and the biometric facility is to introduce another level of security in addition to the PIN which is currently being used. A set of questionnaire was designed to evaluate the acceptability of this concept among users and the architecture of the proposed system is presented

Developments, Issues, and Initiatives in Retail Payments

Innovations in basic information technologies, in payment applications, and in the availability of global markets, as well as substantial changes in financial sector policy, have fundamentally changed how the retail payments system in Canada operates. Principally, the volume and types of electronic payments have grown, and there is increased participation by diverse groups of financial and non-financial institutions as providers of retail payment services. The resulting policy problem for payment systems is how best to benefit from efficiency gains while managing payment risks. O'Connor examines the effect of the technological and legislative changes and the initiatives developed by the public and private sectors in such areas as the market arrangements for services; customer risks and costs for settling large-value retail payments; the security of payment information and the efficiency with which it is transmitted; and the effects of differing regulatory regimes on competition among providers of retail payment services.

WEB service interfaces for inter-organisational business processes an infrastructure for automated reconciliation

For the majority of front-end e-business systems, the assumption of a coherent and homogeneous set of interfaces is highly unrealistic. Problems start in the back-end, with systems characterised by a heterogeneous mix of applications and business processes. Integration can be complex and expensive, as systems evolve more in accordance with business needs than with technical architectures. E-business systems are faced with the challenge to give a coherent image of a diversified reality. Web services make business interfaces more efficient, but effectiveness is a business requirement of at least comparable importance. We propose a technique for automatic reconciliation of the Web service interfaces involved in inter-organisational business processes. The working assumption is that the Web service front-end of each company is represented by a set of WSDL and WSCL interfaces. The result of our reconciliation method is a common interface that all the parties can effectively enforce. Indications are also given on ways to adapt individual interfaces to the common one. The technique was embodied in a prototype that we also present

Critical success factors for preventing E-banking fraud

E-Banking fraud is an issue being experienced globally and is continuing to prove costly to both banks and customers. Frauds in e-banking services occur as a result of various compromises in security ranging from weak authentication systems to insufficient internal controls. Lack of research in this area is problematic for practitioners so there is need to conduct research to help improve security and prevent stakeholders from losing confidence in the system. The purpose of this paper is to understand factors that could be critical in strengthening fraud prevention systems in electronic banking. The paper reviews relevant literatures to help identify potential critical success factors of frauds prevention in e-banking. Our findings show that beyond technology, there are other factors that need to be considered such as internal controls, customer education and staff education etc. These findings will help assist banks and regulators with information on specific areas that should be addressed to build on their existing fraud prevention systems

The Role of Electronic Payment Methods in Facilitating Money Transactions in Erbil City

The emergence of e-commerce has created new financial needs that in many cases cannot be effectively fulfilled by the traditional payment systems. All interested parties are exploring various types of the electronic payment system and issues electronic payment system and digital currency. Therefore, I conducted research on the availability and variety of electronic payment methods in Erbil city, to see the extent of using them in financial transactions. The sample of the research included three banks (Cihan, RT, Byblos). The distributed questionnaires were 40 and collected just 31 were valid to statistically analysis. The questionnaire was designed according to the five-dimensional Likert scale. The SPSS program was used for statistical analysis to extract results Based on the results, the following the most important conclusions were achieved. The results showed that banks have a great interest in electronic payment methods to attract customers and improve customer services. Electronic payment methods are limited only to customers who have a good ability to handle the Internet. According to the results, we made a number of recommendations: Banks should pay attention to issuing new and modern electronic payment methods to attract new customers and follow developments in global markets. Banks and other specialized organizations should conduct awareness programs for clients on the importance and ease of using electronic payment methods in financial transactions in local and international markets

A Comparative Study of Card Not Present E-commerce Architectures with Card Schemes: What About Privacy?

International audienceInternet is increasingly used for card not present e-commerce ar-chitectures. Several protocols, such as 3D-Secure, have been proposed in the literature by Card schemes or academics. Even if some of them are deployed in real life, these solutions are not perfect considering data security and user's privacy. In this paper, we present a comparative study of existing solutions for card not present e-commerce solutions. We consider the main security and privacy trends of e-payment in order to make an objective comparison of existing solutions. This comparative study illustrates the need to consider privacy in deployed e-commerce architectures. This has never been more urgent with the recent release of the new specifications of 3D-secure

ICTs AND THE DIGITISATION OF THE BANKING INDUSTRY IN NIGERIA: A SOCIOLOGICAL APPRAISAL

ICTs have become the creator of a fast-forward modernising post-utopian society with the promise of totalitarian transformation that has affected many sectors and areas of human interests. Fast-paced technological and economic changes have accelerated human experiences in a triumphalist fashion, providing convenience, ease, time- and cost-saving advantages. The Nigerian banking industry has not been left behind. Rather, the industry has grown from a manually driven to a digitally dependent industry with ICT-enabled services and product innovations to improve the lives of bank consumers in the country. Silhouetted against the modernisation paradigm, the industry and country need to brace up to tap into the opportunities and possibilities created by ICTs. Since ICT is the face of the future, the challenges facing ICT-enabled banking services must be removed so that the Nigerian banking industry can deepen its application of ICTs in the industry and provide citizens with greater product options and innovations which are needed for these banks and citizens to ably function in the new global techno-market orde