In recent decades, day-to-day lifestyle requires online payments as easy and simple solutions to several financial transactions, which makes the concept of Electronic payment Systems very popular in the growth of a ca...In recent decades, day-to-day lifestyle requires online payments as easy and simple solutions to several financial transactions, which makes the concept of Electronic payment Systems very popular in the growth of a cashless society. In fact, cashless transactions through simple mobile apps are not merely a concept anymore rather are implemented robustly and being used extensively. On the dark side, obvious financial benefits are making these apps vulnerable to being attacked, which can be successful through security breaches. These cybersecurity issues need to be traced out and resolved to make the financial transactions through an app secure and trustworthy. In this paper, several related papers are analyzed to trace out possible cybersecurity issues in the domain of Electronic Transaction System. The objective is to establish sufficient theoretical background to propose methodologies for measuring security issues and also identify the security strength of any FinTech application and provide standard security metrics.展开更多
Background:This paper analyzes India’s gradual transition towards a cashless economy.Methods:We present a theoretical model that evaluates decisions by consumers and sellers to adopt cashless payments.We then use dat...Background:This paper analyzes India’s gradual transition towards a cashless economy.Methods:We present a theoretical model that evaluates decisions by consumers and sellers to adopt cashless payments.We then use data from surveys conducted in 2011 and 2014(from World Bank’s Global Findex),as well as household and enterprise surveys conducted in 2009-2010 to estimate the amount of cashless transactions prevalent in India and identify the avenues that are successful and those that are not.We analyze instruments(cards versus point-of-sale versus mobile),micro units(individuals versus households versus retailers),and sectors to identify and estimate the enablers and bottlenecks.Results:We find that the most crucial enabler of cashless payments are inflows of funds into the accounts.Conclusion:Based on our findings,we suggest possible policy interventions.展开更多
文摘In recent decades, day-to-day lifestyle requires online payments as easy and simple solutions to several financial transactions, which makes the concept of Electronic payment Systems very popular in the growth of a cashless society. In fact, cashless transactions through simple mobile apps are not merely a concept anymore rather are implemented robustly and being used extensively. On the dark side, obvious financial benefits are making these apps vulnerable to being attacked, which can be successful through security breaches. These cybersecurity issues need to be traced out and resolved to make the financial transactions through an app secure and trustworthy. In this paper, several related papers are analyzed to trace out possible cybersecurity issues in the domain of Electronic Transaction System. The objective is to establish sufficient theoretical background to propose methodologies for measuring security issues and also identify the security strength of any FinTech application and provide standard security metrics.
文摘Background:This paper analyzes India’s gradual transition towards a cashless economy.Methods:We present a theoretical model that evaluates decisions by consumers and sellers to adopt cashless payments.We then use data from surveys conducted in 2011 and 2014(from World Bank’s Global Findex),as well as household and enterprise surveys conducted in 2009-2010 to estimate the amount of cashless transactions prevalent in India and identify the avenues that are successful and those that are not.We analyze instruments(cards versus point-of-sale versus mobile),micro units(individuals versus households versus retailers),and sectors to identify and estimate the enablers and bottlenecks.Results:We find that the most crucial enabler of cashless payments are inflows of funds into the accounts.Conclusion:Based on our findings,we suggest possible policy interventions.
