Maintaining consumer confidence in electronic payment mechanisms

Credit card fraud is already a significant factor inhibiting consumer confidence in e-commerce. As more advanced payment systems become common, what legal and technological mechanisms are required to ensure that fraud does not do long-term damage to consumers' willingness to use electronic payment mechanisms

Research Note: Biometric Technology Applications and Trends in Hotels

The purpose of this study is to investigate the biometrics technologies adopted by hotels and the perception of hotel managers toward biometric technology applications. A descriptive, cross sectional survey was developed based on extensive review of literature and expert opinions. The population for this survey was property level executive managers in the U.S. hotels. Members of American Hotel and Lodging Association (AHLA) were selected as the target population for this study. The most frequent use of biometric technology is by hotel employees in the form of fingerprint scanning. Cost still seems to be one of the major barriers to adoption of biometric technology applications. The findings of this study showed that there definitely is a future in using biometric technology applications in hotels in the future, however, according to hoteliers; neither guests nor hoteliers are ready for it fully

Identity Trust Framework for iGaming

The online gambling community, or the iGaming industry in the United States has individual solutions and a mix of classic processes to manage universal customer identity but it lacks a standard identity management framework in which to enroll new iGaming users, monitor those users and ensure secure transactions, which leaves it open to identity theft and financial fraud. The iGaming industry offers online poker, sports betting and casino table games. iGaming providers (provider/providers) include companies such as PartyPoker.com, Pokerstars.com, Bovada.com, BetOnline.com among others. An iGaming player (player/players) is anyone who plays to gamble on games through the Internet. This report focuses on the requirements and specification for an Identity Trust Framework to enhance security and privacy in the United States iGaming industry and players.Informatio

Strong authentication based on mobile application

The user authentication in online services has evolved over time from the old username and password-based approaches to current strong authentication methodologies. Especially, the smartphone app has become one of the most important forms to perform the authentication. This thesis describes various authentication methods used previously and discusses about possible factors that generated the demand for the current strong authentication approach. We present the concepts and architectures of mobile application based authentication systems. Furthermore, we take closer look into the security of the mobile application based authentication approach. Mobile apps have various attack vectors that need to be taken under consideration when designing an authentication system. Fortunately, various generic software protection mechanisms have been developed during the last decades. We discuss how these mechanisms can be utilized in mobile app environment and in the authentication context. The main idea of this thesis is to gather relevant information about the authentication history and to be able to build a view of strong authentication evolution. This history and the aspects of the evolution are used to state hypothesis about the future research and development. We predict that the authentication systems in the future may be based on a holistic view of the behavioral patterns and physical properties of the user. Machine learning may be used in the future to implement an autonomous authentication concept that enables users to be authenticated with minimal physical or cognitive effort

FACILITATING FINANCIAL INCLUSION USING ICT: LESSONS FROM M-PESA AND E-ZWICH

Financial inclusion is a priority in most developing countries. While the inclusion approaches may differ, the primary aim remains enrolling the unbanked into the formal economy. This paper adopts Critical Realism as a lens to compare the efforts of two inclusion models; M-PESA from Kenya and ezwich in Ghana. The findings reveal that while both models do not provide the infrastructure for people to build trust, the enrolment successes of both models differ significantly

Innovations in rural and agriculture finance

Most rural households lack access to reliable and affordable finance for agriculture and other livelihood activities. Many small farmers live in remote areas where retail banking is limited and production risks are high. The recent financial crisis has made the provision of credit even tighter and the need to explore innovative approaches to rural and agricultural finance even more urgent. This set of 14 briefs clearly points out the importance of business realities faced by small farmers, including low education levels, the dominance of subsistence farming, and the lack of access to modern financial instruments. These conditions mean that new and innovative institutions are required to reach small farmers. Emerging communication technologies provide new opportunities for rural banking by reducing business costs and alleviating information asymmetries. New financing instruments, such as weather index-based insurance and microinsurance, also have great potential for managing the risks faced by small farmers. In addition, bundling financial services with nonfinancial services like marketing and extension services offers new opportunities for small farmers to increase their productivity and incomes. Finally, an enabling policy environment and legal framework, enforcement of rules and regulations, and a supportive rural infrastructure all contribute immensely to making sustainable access to finance a reality. Table of Contents: •Innovations in rural and agriculture finance: Overview by Renate Kloeppinger-Todd and Manohar Sharma •Financial literacy by Monique Cohen •Community-based financial organizations: Access to Finance for the Poorest by Anne Ritchie •Rural banking in Africa: The Rabobank approach by Gerard van Empel •Rural banking: The case of rural and community banks in Ghana by Ajai Nair and Azeb Fissha •Rural leasing: An alternative to loans in financing income-producing assets by Ajai Nair •Determinants of microcredit repayment in federations of Indian self-help groups by Yanyan Liu and Klaus Deininger •M-PESA: Finding new ways to serve the unbanked in Kenya by Susie Lonie •Biometric technology in rural credit markets: The case of Malawi by Xavier Giné •Credit risk management in financing agriculture by Mark D. Wenner •New approaches for index insurance: ENSO insurance in Peru by Jerry R. Skees and Benjamin Collier •Microinsurance innovations in rural finance by Martina Wiedmaier-Pfister and Brigitte Klein •Combining extension services with agricultural credit: The experience of BASIX India by Vijay Mahajan and K. Vasumathi •Bundling development services with agricultural finance: The experience of DrumNet by Jonathan Campaigne and Tom RauschAgricultural innovations -- Developing countries, agriculture finance, Financial crisis, microinsurance, Poverty reduction, rural banking, Rural finance, Rural households, Small farmers,

Beyond Security and Privacy Perception: An Approach to Biometric Authentication Perception Change

The aim of the paper is to shed light on the factors affecting perception shifts in biometrics authentication. This study explores trust relationships in the adoption of biometrics using the valence framework to understand and explain the individual’s evaluation of risk concerning biometrics. Hypotheses are developed to suggest that individuals’ intention to use biometrics is influenced by trust in the vendor. An experiment to test the hypotheses is described. Expected contributions, limitations, and possibilities for future research are noted

Does the online card payment system unwittingly facilitate fraud?

PhD ThesisThe research work in this PhD thesis presents an extensive investigation into the security settings of Card Not Present (CNP) financial transactions. These are the transactions which include payments performed with a card over the Internet on the websites, and over the phone. Our detailed analysis on hundreds of websites and on multiple CNP payment protocols justifies that the current security architecture of CNP payment system is not adequate enough to protect itself from fraud. Unintentionally, the payment system itself will allow an adversary to learn and exploit almost all of the security features put in place to protect the CNP payment system from fraud. With insecure modes of accepting payments, the online payment system paves the way for cybercriminals to abuse even the latest designed payment protocols like 3D Secure 2.0. We follow a structured analysis methodology which identifies vulnerabilities in the CNP payment protocols and demonstrates the impact of these vulnerabilities on the overall payment system. The analysis methodology comprises of UML diagrams and reference tables which describe the CNP payment protocol sequences, software tools which implements the protocol and practical demonstrations of the research results. Detailed referencing of the online payment specifications provides a documented link between the exploitable vulnerabilities observed in real implementations and the source of the vulnerability in the payment specifications. We use practical demonstrations to show that these vulnerabilities can be exploited in the real-world with ease. This presents a stronger impact message when presenting our research results to a nontechnical audience. This has helped to raise awareness of security issues relating to payment cards, with our work appearing in the media, radio and T