Mobile payment in Fintech environment: trends, security challenges, and services

Kang, Jieun

doi:10.1186/s13673-018-0155-4

Cited by 132 publications

(127 citation statements)

References 37 publications

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“…Some of the well-known mobile wallet apps are Apple Pay, Google Pay and Samsung Pay, which are integrated with the banking systems of their resident countries. Apple Pay works only with Apple devices, uses only NFC mechanisms, and uses encryption techniques and tokenisation for secure transactions (Kang, 2018). Using any of these payment mechanisms, the mobile wallet user can add their debit/credit card details to their wallets, after which the mobile wallet providers contact the card issuer for authentication and add the card information to the wallets after successful authentication (Wang, Hahn, & Sutrave, 2016).…”

Section: Mobile Paymentsmentioning

confidence: 99%

“…Using any of these payment mechanisms, the mobile wallet user can add their debit/credit card details to their wallets, after which the mobile wallet providers contact the card issuer for authentication and add the card information to the wallets after successful authentication (Wang, Hahn, & Sutrave, 2016). Samsung Pay uses, in addition to NFC, magnetic secure transmission (MST), which allows mobile wallet users to use Samsung Pay in store even when retailers have not upgraded to an NFC reader, thereby ensuring the compatibility and convenience of the payment method (Kang, 2018;Wang et al, 2016).…”

Section: Mobile Paymentsmentioning

confidence: 99%

“…Google Pay, formerly known as Android Pay, supports only NFC technologies and works with any Android devices for in-store and peer-to-peer payments (Kang, 2018). Along with in-store and online payments, in India, Google Pay can be linked to bank accounts that support unified payment interface (UPI) for direct transactions instead of adding money to the wallet.…”

Section: Mobile Paymentsmentioning

confidence: 99%

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An integrated model combining ECM and UTAUT to explain users’ post-adoption behaviour towards mobile payment systems

Singh

2020

AJIS

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Technological progression in mobile phones has increased the popularity of mobile payments. Users can shop online through a mobile device, which is time saving and convenient. Mobile payment systems involve ongoing interactions between users and payment providers. The initial acceptance of mobile payment systems has been studied extensively, but few studies have attempted to understand users’ post-adoption behaviour. This study employs an integrated model with the unified theory of acceptance and use of technology (UTAUT) framework and the expectation confirmation model (ECM), along with two additional constructs: perceived security and trust. The empirical results show that the integrated model has a higher predictive power to explain continuance intentions for using mobile payment systems with significant factors of satisfaction, trust, performance expectancy, and effort expectancy. This study confirmed that the UTAUT model could be extended to explain post-adoption behaviour towards mobile payment systems. The study’s findings have theoretical and practical value to further the understanding of pre- and post-adoption behaviour towards mobile payment systems.

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Section: Mobile Paymentsmentioning

confidence: 99%

Section: Mobile Paymentsmentioning

confidence: 99%

Section: Mobile Paymentsmentioning

confidence: 99%

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An integrated model combining ECM and UTAUT to explain users’ post-adoption behaviour towards mobile payment systems

Singh

2020

AJIS

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“…The assets involved must be able to verify that everyone involved in the transaction may make the transaction. If authorization on information is not suitably offered to payment system, hackers can conveniently intercept the payment information of customers without mutual verification and additionally, they can control the information [17].…”

Section: Authorizationmentioning

confidence: 99%

A Review on Electronic Payments Security

et al. 2020

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Modern technology is turning into an essential element in the financial trade. We focus the emphasis of this review on the research on the E-wallet and online payment, which is an element of an electric payment system, to get the pattern of using this service. This research presents a review of 131 research articles published on electronic payment between 2010 and 2020 that uses a qualitative method of answering the research questions (RQ): RQ1: “What are the major security issues regarding using electronic payments”? and RQ2: “What security properties need to comply for secure electronic payments?” With the systematic literature review approach, the results show that interest in E-wallet and online payment has grown significantly during this period, and it was found that for the increasing uses of electronic payments, researchers are more focused on security issues. The results show that, to conquer the key gaps, electronic payment must have some protection properties, namely, availability, authorization, integrity, non-repudiation, authentication, and confidentiality. Nowadays, security problems in electronic payment are usually more demanding than the present security problems on the web. These findings can enable electric transaction providers to strengthen their security methods by boosting their security gaps, as required for relevant services.

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“…It also has the property of randomness, which makes it mathematically impossible to infer the next password from the current one. It is known to be highly secure because of these features, and it can be used as an authentication service in Information & Communication Technology (ICT) [2] fields such as mobile-payment [3,4] and mobile-cloud computing [5,6].…”

Section: Introductionmentioning

confidence: 99%

Analysis of Vulnerabilities That Can Occur When Generating One-Time Password

et al. 2020

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A one-time password (OTP) is a password that is valid for only one login session or transaction, in IT systems or digital devices. This is one of the human-centered security services and is commonly used for multi-factor authentication. This is very similar to generating pseudo-random bit streams in cryptography. However, it is only part of what is used as OTP in the bit stream. Therefore, the OTP mechanism requires an algorithm to extract portions. It is also necessary to convert hexadecimal to decimal so that the values of the bit strings are familiar to human. In this paper, we classify three algorithms for extracting the final data from the pseudo random bit sequence. We also analyze the fact that a vulnerability occurs during the extraction process, resulting in a high frequency of certain numbers; even if cryptographically secure generation algorithms are used.

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Mobile payment in Fintech environment: trends, security challenges, and services

Cited by 132 publications

References 37 publications

An integrated model combining ECM and UTAUT to explain users’ post-adoption behaviour towards mobile payment systems

An integrated model combining ECM and UTAUT to explain users’ post-adoption behaviour towards mobile payment systems

A Review on Electronic Payments Security

Analysis of Vulnerabilities That Can Occur When Generating One-Time Password

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