A Comprehensive Study of Barriers in Electronic Transactions for Customers and Banks

Abstract

In today's digital world, electronic payment mechanisms are essential. Security and privacy are major issues in this field. Electronic money is, in fact, nothing more than a type of readily cloned digital information. Furthermore, all of a user's online activities are automatically recorded in an electronic log. Secure and anonymous electronic payment methods are examined and created in this thesis. The first section of the article provides an overview of the most popular online payment methods. Direct usage of credit card information is the most often used payment method. As a result, it has serious security concerns. However, there are payment methods that are logically safer, but they aren't employed for a variety of reasons. Secure mobile payment solutions are being created as a result of the massive development in mobile communications. This study encourages the use of the WWW and mobile devices together and provides many use cases. The WWW is getting a brand-new GSM-based payment mechanism. Additionally, a software token that is immune to particular assaults has been proposed.In the future, mobile software agents will be able to assist users with a variety of tasks that would otherwise take a long time. Agents' communications are protected in this thesis. Finally, this study analyses how mobile agents can execute secure electronic transactions from untrusted hosts via the Internet.