A Critical Analysis On The Evolution In The E-Payment System, Secuiry Risk, Threats And Vulnerability

Abstract

At present, payment system through the internet has been trending at the furious pace. There are different ways and varieties of e-payment systems are existing to facilitate ease of transaction at the most active security level. However, parallelly the cyber-attacks strategies are growing at the advanced level as security protocols. In this research study, have analyzing the evolution of e-payment system and its terminology followed by different conventional e-payment mechanisms. Also demonstrates lack of security provisions and solution strategies. The main contribution of the present survey study is providing the landscape of digital e-payment system and its opportunities for future e-commerce systems. In the last, have briefly discussing and analyzing the fraudulent transaction rates which will become the benchmark for the development of secure epayment system.