Argument Volume - 2 February e-issn Based Credentials Issue - 2 2582-5755 Digital Payments and its Security – Alok Raj Security Engineer Intern, XenonStack, Mohali, Punjab https://orcid.org/0000-0003-0350-8662 [email protected] 2 – Nitin Jain Professor, Apex Institute of Technology, Chandigarh University https://orcid.org/0000-0002-0561-2976 [email protected] – Surendra Singh Chauhan Research Scholar, Pratap University, Jaipur, India https://orcid.org/0000-0002-8804-9057 [email protected]

hat are the different payment methods that we have today? The most Wcommonly used payment method since a long time is cash. But in the past two decades, many more options have emerged but the most common and widely used of them is digital payments that includes using bank cards at PoS Article HI terminals and payments using digital platform by using a mobile or a laptop. Paper Nomenclature: Argument Based Credentials (ABC) Paper Code: CYBNMV2N2FEB2020ABC2 Keywords Submission Online: 08-Feb-2020 • Digital Payments Manuscript Acknowledged: 09-Feb-2020 • Originality Check: 13-Feb-2020 Originality Test Ratio: 0% (Urkund) • Peer Reviewers Comment: 14-Feb-2020 • OTP Blind Reviewers Remarks: 17-Feb-2020 • ATM Author Revert: 19-Feb-2020 Camera-Ready-Copy: 22-Feb-2020 Editorial Board Citation: 28-Feb-2020 Published Online First: 13-May-2020 user wants to send money or receive Now, let’s have a look at different money via digital payment methods, types of digital payment methods that there is one common criteria that the we have in India. user should have an existing bank account and the user should have Bank Cards Introduction sufficient balance available in their Banks cards are among the most In today’s world, we are seeing bank accounts to make payments or widely used payment methods. They an increase in the number of digital to receive payments. have dominated the digital payments payments. Whether it’s good or bad, it for about a decade. Today’s bank is up to us to decide? But, let’s see that A digital payment system has three cards come with various features what are the different digital payment components for carrying out any and benefits that include cashback, methods that are present in India. We digital financial services: reward points, discounts at selected will also take a look into what are their merchants and outlets, domestic 1. A digital transaction platform i.e. benefits and drawbacks. So, let’s get and international Lounge , a digital platform that supports started. and several others. Banks are also digital payments. introducing several security features in What do you mean by a digital 2. The customers that will be using bank cards that we will be discussing transaction? A digital transaction that platform to send money and later. Different bank cards are issued is a seamless system where the the retailers that will use that by the banks according to the needs transactions are carried out without platform to receive money. and requirements of their customers. the need of any physical cash. A 3. A device (mobile phone or laptops) digital transaction can be carried out to make digital transaction via the in many different ways. Whether a platform.

Scholastic Seed Inc. CYBERNOMICS 13 Volume - 2 February e-issn Argument Issue - 2 2582-5755 Based Credentials

Some of the card payment companies Banks basically provide three types of due date. Cash withdrawal via credit are: cards: cards is charged and thus credit card is not suitable for cash withdrawals, but • VISA (includes, ) • Debit Card while making digital payments credit • Credit Card cards have an edge over debit cards • Prepaid Card (also includes Forex and they provide much more benefits, Cards and Gift Cards) offers and features as compared to debit cards. • MasterCard (includes, MasterPass, Debit Card and Cirrus) Debit card is the most basic card of Prepaid Card all of three. It is issued by the bank as Prepaid cards are pre-loaded cards soon as you open an account. Debit that are provided by the banks. It can cards are linked to the customer’s be used for limited transactions as

account and they can use debit cards some prepaid cards like the Gift Cards to withdraw money from ATMs, make can be loaded only once and after online payments and make payments the amount on the card is used, the at Point-of-Sale (POS) by swiping card can’t be loaded or used again. the card. Debit cards come with two Prepaid Cards like Forex Cards can variants: ‘For Domestic use Only’ and be loaded with different currencies ‘International Debit Card’. The cards and can loaded multiple times but that are for Domestic use only can only they are designed to make cash and • be used to make payments in India. digital transactions outside India Debit cards can be used at ATMs including payments at POS. The cash to check account balance, getting withdrawal charges in international information about last transactions, currencies outside India is the lowest and carrying out other financial and in Forex Cards as the currency • Discover (includes, Diners Club non-financial transactions. conversion charges for Forex cards is International) low as compared to debit and credit Credit Card cards. Prepaid cards like Gift Cards Like debit card, credit cards are also can be used for online payments and issued by the banks. To obtain credit at POS but most of the Prepaid Cards card, a customer must submit the don’t offer cash withdrawal facility. documents that are required for its • JCB (Japan Credit Bureau) approval. The main difference between Usage of Bank Cards debit card and credit card is that while • Withdrawing money from using credit card, a customer can an ATM – To withdraw money use a credit card to make payments from an ATM (Automated Teller beyond the amount that is present in Machine or, Automatic Teller his bank account. But there is a limit to Machine), the customer needs • CB (Carte Bleue) the amount that can be used by each to insert their credit or debit card card and this limit is known as the and go through the interface. PIN . The credit limit depends (Personal Identification Number) on the customer’s financial status is a 4-digit or 6-digit (6-digit and is decided by the bank. There is is used by some banks now-a- • UnionPay a time limit within which the customer days) number that is used as a has to make the payment to his credit security measure by the banks card account which is known as due to authenticate and authorize date and this can also include interest a transaction. PIN can be set charges that has to be paid to the by the customer. There is a • RuPay bank. The interest charges depend on maximum amount of money that the bank’s policies and are often not can withdraw from an ATM in a charged if payment is made before the day and this maximum limit is set by the bank.

14 Scholastic Seed Inc. CYBERNOMICS Argument Volume - 2 February e-issn Based Credentials Issue - 2 2582-5755

Fig-:-ABC-2.2 (Image Credit: Designed by Iconicbestiary) Customer making payment through at counter in Cafe • Shopping at POS (Point-of- Sale) – Debit, credit and prepaid Fig:-ABC-2.3 (Image Credit: Designed by Peoplecreations) cards can be used at major • Online Payments – Debit, credit along with a CAPTCHA to retail stores and shops via POS and prepaid cards can also be authorize the transaction. devices to make payments. To used to make online payments on ¾ make payment at a POS, follow ¾ The customer will then be various online shopping websites these steps: redirected to the payment such as Amazon, Flipkart, portal. At the payment portal, ¾¾ The customer gives the card Myntra, etc., adding money on the customer will be asked to to the cashier at the store. payment applications such as authorize the transaction via ¾¾ The merchant’s swipes Paytm, Freecharge, Mobikwik, OTP (One-Time Password) (for older cards), inserts or etc. To make online payments, or static password. OTP is waves (for newer cards) the follow these steps: cards in the PoS machine. the most commonly used and more secure way to ¾¾ The merchant’s types ¾¾ Navigate to the payment authorize the transaction. reference number and the page on the website. amount of purchase. ¾¾ After the customer enters ¾¾ There will be various ¾¾ The merchant then asks the the correct OTP, the payment options present. customer to enter the PIN of authentication is complete Select the Credit Card, Debit the card. and the transaction is Card or Prepaid Card option ¾¾ The amount of purchase completed. The customer as desired and then choose is directly debited from the is then redirected to the user’s account linked with the card variant (, website. the bank card (except for VISA, etc., if asked). prepaid cards). ¾¾ The customer will then be ¾ ¾ The PoS machine prints out asked to enter the card two copies of the receipt. details. Enter the 16-digit One is the Merchant’s copy card number (except for and other is the Customer’s copy. The customer needs American Express Card), to sign the Merchant’s copy card expiry date, Name of of the receipt, if needed. the Card and CVV or CVV2 The merchant hands over number. In some cases like Fig:-ABC-2.4 A person using laptop the Customer’s Copy to the IRCTC website, the payment computer, holding bank card and doing customer and keeps the page asks for the Card online payment Merchant’s copy with him. Number, Card Expiry Date, Courtesy: (Image Credit: Designed by ¾ ¾ Thus, the transaction is Name on Card and ATM PIN Katemangostar) completed.

Scholastic Seed Inc. CYBERNOMICS 15 Volume - 2 February e-issn Argument Issue - 2 2582-5755 Based Credentials

How to ensure safety while payment was carried out i.e. • Always remember your PIN using Bank Cards exact amount was deducted. and try to remember your card number so in case of card theft • Do not share your card information • While using credit card, always or loss you can report to your like card number, expiry date, keep the transaction receipt card issuing bank immediately CVV number and ATM PIN with for comparing the transactions via phone banking and block anyone over the phone or internet, mentioned in the card statement your card (or, hotlist your card) irrespective of whether you know that you receive at your billing immediately. This will freeze your them or not. While contacting date. Most customers throw card temporarily and prevent any phone banking service of the away or destroy the transaction unauthorized transaction until you bank, the bank system asks for receipt and do not match the retrieve your card or your card card number and ATM PIN or transactions mentioned in their gets replaced. Customer ID for user verification card statement. if the customer wants to validate • Do not write your card details • While using debit card, before without using the TIN (Telephone along with the PIN anywhere i.e. throwing away your transaction Identification Number) or the on paper, on your computer, on receipt check your account customer is calling from some your mobile phone as a contact statement and verify the amount number other than the number or as a note, or on a notepad or of your transaction. registered with the bank, then dairy that you carry with you daily. you can enter the details while • Do not throw away your transaction If your computer or mobile gets recorded system audio asks you receipt once you have verified the hacked or someone gets access to do. Once you start talking to the transaction. Tear it before throwing to it (sees your diary, mobile, Bank Representative do not share as it contains the last 4-digits (first uses your computer or mobile) any card information. You can 6-digits also in some cases) of while you are having coffee or share your card number, if in case your card, your name and some busy talking, etc., then there is a you want to block your card (card other information. The transaction possibility that an unauthorized lost or stolen). Nowadays, we can receipt for cash withdrawal at transaction can happen. block a card via Net-banking also. ATM machines contains some • Do not write your PIN on a piece more information in some cases • Do not share you card details of paper or the back side of your such as remaining account or personal information on a card and keep it your wallet. If balance and few digits of account telephone call where the caller someone gets your wallet, then he number. If dumpster divers get claims to be a bank representative. will have both your card and your your transaction receipt, they can If you want to verify any details PIN. So, he can easily withdraw retrieve all of your card details or get any information, you must money or make transactions. Try and can conduct unauthorized contact the nearest branch or to keep your wallet and your bank purchases especially over the call the bank’s phone banking card in two different wallets or in internet. service. two different pockets. • While using the bank card at • While making payments on PoS • While making an online payment ATM, make sure that no one is terminals at merchant location or over the internet, check for the watching your finger movements service providers like restaurant, security. It is discussed later in as you type your PIN. There can hotels, etc., do not hand over this post. your card to any employee. Ask be someone watching over you • While downloading banking apps them to bring the PoS terminal from behind or from sides. Also, always download the app directly device to make the payment or go cover your hand with the other from the bank’s website and let to the payment counter to make to ensure that no cameras within it redirect you to Google Play payment via your bank card. the premises can easily capture your PIN number. There can also Store or the Apple Store. Do not • Always check the amount on be very small hidden cameras download banking apps via links the PoS terminal before entering above the number pad or hidden that your receive via emails or your PIN. cameras pointing at the number SMS. Always keep your banking apps updated. • Always check the receipt pad of the ATM which could have and the bill to verify that the exact been setup by some persons with • Periodically, check for bank wrong motives. statements and credit card

16 Scholastic Seed Inc. CYBERNOMICS Argument Volume - 2 February e-issn Based Credentials Issue - 2 2582-5755

statements for any unauthorized • Do not respond to e-mails that • Using contact-less Debit, Credit or suspicious transactions. If there asks your personal or financial or Prepaid Card is an unauthorized or suspicious or card information. Banks never transaction, report to the bank asks for such information. Also, immediately and get your card don’t click on any links in emails replaced. that asks you to login or change your password urgently. • Always check if there is any If the bank card is a contact-less discrepancy between the actual • If possible, make any online Debit, Credit or Prepaid Card, transaction and the SMS with transaction from your computer then this image will be present the transaction details that you while using the “Incognito Mode” on the bank card. receive on your registered mobile or “Private Window” mode of your number as soon as you do any web browser & log out or sign out transaction. of the website after completing • When you receive your bank card the online transaction and close at your home ensure that the mail the browser window. To open any is completely sealed and there is other website, start the browser no damage on it. After opening again. If you are not using the the card, sign immediately at the Incognito Mode, then make sure back of your card. In case, the to delete the browser cookies mail seal is broken or damaged, after signing out and then close return the mail and don’t receive the browser and then reopen to it. do any other task. Do not browse the web or open any other tab (Image Credit Left: Designed by • Change your default card PIN or other browser while making Freepik | Image Credit Right: Designed immediately and keep changing online payments or accessing by Freepik) your PIN frequently (once in Internet Banking. every 3 months). • Using smart-watch • Don’t ask help from strangers or • When disposing your bank card let strangers assist you at the after replacement or up-gradation ATM. They could trick you or it of your card, make sure to cut might be a trap. Don’t even trust your bank card diagonally before staff members or security guards disposing it. If you’re closing your without completely verifying their account and the bank asks you to identity. It could be a fraudster. return your card, make sure that your card is properly disposed. Different Modes of payment • Always keep an eye on the vendor at PoS Terminal at the cash counter while making • Using chip-based Debit, Credit or PoS transactions and make sure Prepaid Card that he swipes the card and make Fig:-2.1 (Image Credit: Designed by the transaction in your presence. Iconicbestiary)

• Before using the ATM make • Using mobile phones (Samsung sure that there is no strange Pay, Apple Pay or Google Pay) object present near or around the insertion panel of the card. • Before leaving the ATM make sure that the transaction has been completed and the green light is blinking at the point where Fig:-ABC-2.5: Different Modes of payment you inserted the card and ‘Please Fig:-2.2 (Image Credit: Designed by (Image Credit: Designed by Insert Your Card’ message is fanjianhua / Freepik) displayed at the screen. Molostock / Freepik)

Scholastic Seed Inc. CYBERNOMICS 17 Volume - 2 February e-issn Argument Issue - 2 2582-5755 Based Credentials

References • https://support.onde.app/en/ • https://www.oxfordlearnersdictionaries. articles/3392416-company-panel-top- up-error com/definition/english/credit-card • https://en.wikipedia.org/wiki/Debit_card • https://anant-fresh-top-online-grocery. soft112.com/ • https://books.google.cz/books?id=sP6A DwAAQBAJ&pg=PT990&lpg=PT990& • https://help.venmo.com/hc/en-us/ dq=%22your+card+your+name+and% articles/210413677-Adding-a-Credit-or- 22&source=bl&ots=BRlr7gRV0z&sig=A Debit-Card CfU3U1dDI07KRmfSKi6IkzhlSDSlVYIF • https://www.rte.ie/news/ A&hl=cs&sa=X&ved=2ahUKEwixiaCT8 business/2012/0202/289830-cash-or- M7nAhUEwcQBHUirD_kQ6AEwAnoE- card-the-pros-and-cons/?app=true CAsQAQ • https://www.ebay.com/help/buying/ How to Know if a website is safe for • https://www.bankwest-sd.bank/person- paying-items/paying-items-credit-debit- al/cards-atm-check-credits-and-gift/ card?id=4038 making Online Payments? • https://www.bcard.bg/en/clients/prod- • https://www.elements.org/personal/ ucts credit-cards/secured-visa/ To make sure that any website is safe • https://www.creditsesame.com/blog/ • https://www.cvvnumber.com/ credit-cards/should-i-use-my-debit- for making Online Payments, check • https://www.thebalance.com/how-to- card-or-credit-card/ use-an-atm-315490 for the following: • https://www.money-rates.com/personal- • https://get.brushfire.help/hc/en-us/ finance/credit-card-vs-debit-card.htm articles/202851580-Why-was-my-card- • Make sure that a padlock symbol • https://www.mycreditunion.gov/life- declined- events/checking-credit-cards/credit- • https://www.ncconsumer.org/news- is displayed in the URL cards/debit-credit-prepaid articles-eg/planning-a-trip-out-of-the- • https://www.missionlane.com/card/ country-heres-what-you-need-to-know- lcard-cardholder-agreement about-using-your-credit-cards.html • https://www.mecuanywhere.com/com- • https://forums.moneysavingexpert.com/ paring-cards-credit-cash-debit/ showthread.php?p=63802905 • Make sure the website is running • https://www.cardratings.com/ • https://www.mastercard.com.au/en-au/ on https creditcardblog/2011/09/is-the-new-duo- frequently-asked-questions.html card-a-good-deal.html • https://calcitecu.com/debit-card-best- • https://books.google.de/books?id practices/ =4lmDIw_4kpkC&pg=PA190&lpg • https://www.bootsnall.com/articles/ =PA190&dq=%22card+is+used+ ikahns-top-ten-tips-for-traveling-in-mo- the+card%22&source=bl&ots=jQ rocco.html • Make sure that one of the wKiOKplf&sig=ACfU3U0ZYHp-2- following logos (especially PCI 3xVOwQscTpF3Gwo2f7jNw&hl=de&sa- • https://www.nibl.com.np/index. =X&ved=2ahUKEwjNkYWT8M7nAhXS php?option=com_content&view=article DSS, except in Bank’s Payment pYsKHdFLDOMQ6AEwAHoECAoQAQ &id=56:credit-card-faq&catid=16:card- center&Itemid=62 Page) is present on the payment • https://www.ssbpgh.com/ssb-news/ what-is-the-difference-between-a-cred- • https://de.slideshare.net/saurabh_cook- page where you enter your OTP, it-card-and-a-debit-card-3264 ie/financial-literacy-curriculum-debit- cards Password or Card Details. • https://books.google.com/ books?id=7uc-DAAAQBAJ&pg=PA1 • https://www.quora.com/Is-there-any- 10&lpg=PA110&dq=%22card+like+d way-to-buy-stuff-without-a-credit-or- ebit+card+credit%22&source=bl&ots debit-card-and-with-a-bank-account =4qAD_ka7rD&sig=ACfU3U2ccpBj- • https://books.google.com.au/book v9vcnXGv5ne8uKzvZ8mfcA&hl=en&sa s?id=4f4DAAAAMBAJ&pg=PA80 =X&ved=2ahUKEwi6ocuT8M7nAhVZP &lpg=PA80&dq=%22your+bank+- n0KHQa5B14Q6AEwAXoECAoQAQ card+at+your%22&source=bl&ots= • https://www.paypal-community.com/t5/ eQjb5Rc4dv&sig=ACfU3U2oof2F-v- My-Money/Can-t-link-my-credit-card/td- bVKrCBzJANXLovx61EGg&hl=en&sa=- p/1922660 X&ved=2ahUKEwiu1qeU8M7nAhXtH7c AHZL0AOAQ6AEwAHoECAoQAQ • https://danskebank.dk/PDF/PRISER- VILKAAR-FAKTAARK/ERHVERV/Kort/ • https://www.bankofamerica.com/cred- Card-conditions-Mastercard-Corporate- it-cards/credit-card-payments-state- Virtual-(pdf).pdf ments-faq/ • https://www.qantaspoints.com/about/ • https://books.google.com/books?id= faq/-/faq/225_HOW_DO_I_CHANGE_ pArqtfPYD18C&pg=PA49&lpg=PA4 MY_NAME_ON_MEMBERSHIP 9&dq=%22your+card+make+sure+ to%22&source=bl&ots=i5wtPu8zL2 • https://www.commercebank.com/ &sig=ACfU3U2Jwt1ojtXRrQxvH5d- sharedcontent/PDFs/make-purchases- 3gsgNJKGPw&hl=en&sa=X&ved=2ahU abroad.pdf KEwip8omU8M7nAhV5KqYKHYz6B7A • https://www.educationfirstfcu.org/Re- Q6AEwA3oECAoQAQ sources/Learn/Financial-Education/ • https://www.ebay.com.au/help/buying/ Articles/Credit-Credit-Cards/Debit-or- paying-items/paying-items-credit-debit- Credit-Card-What-s-the-Difference card?id=4038 • https://www.quora.com/Why-are-only- • https://www.bobfinancial.com/security- selected-SBI-debit-cards-eligible-for- tips.jsp Some other logos listed below, the-EMI-option-in-Amazon-and-Flipkart and many others may also be • https://upgradedpoints.com/the-com- • https://chargebacks911.com/visa-debit- plete-guide-to-plastiq/ / present on the payment page • https://www.businessinsider.com/best- • https://www.bettingsites.info/skrill/ but any one from the above ones rewards-credit-cards-for-paying-taxes • https://steorrajewels.com/returns/ • https://books.google.com/books?id must be present. • https://www.expat.com/en/guide/africa/ =MBdpDwAAQBAJ&pg=PA252&lpg ivory-coast/14059-opening-a-bank-ac- =PA252&dq=%22your+card+make count-in-ivory-coast.html

18 Scholastic Seed Inc. CYBERNOMICS Argument Volume - 2 February e-issn Based Credentials Issue - 2 2582-5755

+sure+to%22&source=bl&ots=bbrl9 • https://www.appgain.io/how-to-use- q=%22making+digital+payments+credit Wfuzd&sig=ACfU3U0AAwillQ-T9C- your-point-of-sale-in-marketing/ +cards%22&source=bl&ots=gD73p6aY EXkyUkKmmg6U_5A&hl=en&sa=X&ve • https://www.linguee.com/ GE&sig=ACfU3U2aI9vallHdqJh6djRnjn d=2ahUKEwip8omU8M7nAhV5KqYKH french-english/translation/ ceW0ISxQ&hl=nl&sa=X&ved=2ahUKE Yz6B7AQ6AEwAnoECAkQAQ cryptogramme+de+carte+bancaire.html wiBq6Oj8M7nAhWvsKQKHZDHAuAQ6 AEwAHoECAoQAQ • https://ms-my.facebook.com/ • https://www.coursehero.com/file/ sowalhealthanddrug/posts/ p5blckm/p-159-Generally-most-of-the- • https://www.stillmanbank.com/consum- imagine-attempting-to-use-your- information-in-your-credit-file-may-be- er-news/atm-debit-card-security-pre- debit-card-at-the-checkout-at-your-fa- reported-for/ cautions/ vorite-store/2348803655337758/ • https://interestingengineering.com/ • https://www.dhanbank.com/atm-fraud- • https://www.chaoscards.co.uk/pay- thieves-found-a-new-way-to-steal-your- alert.aspx ments-methods-i87 card-data-via-atm-called-periscope • https://www.thedailystar.net/ • https://help.nexmo.com/hc/en-us/ • https://www.hlb.com.my/en/personal- city/9-tips-avoid-atm-fraud-511960 articles/204015003-Can-I-make-a-pay- banking/debit-cards/debit-card/debit- • https://www.solidaritynow.org/ ment-using-a-credit-card- card.html wp-content/uploads/2016/12/ • https://babybossonline.com/pages/ • https://www.baldai1.lt/in-english.html CASH-leaflet-english-final.pdf terms-conditions • https://seller.dhgate.com/news/media/ • https://www.hsbc.co.om/1/2/om/com- • https://www.icicibank.com/managed- i18588.html mon/important-information-on-your-hs- assets/docs/personal/cards/debit-cards/ bc-credit-debit-card/ DebitCards-tc.pdf • https://www.facebook.com/Jew-Rea- Online-2006999206210887/reviews/ • https://www.jagoinvestor.com/2013/01/ • https://www.acorns.com/money-basics/ credit-card-myths.html • https://www.outlookindia.com/outlook- difference-between-credit-card-debit- • https://www.aeoncredit.com.my/ card/ money/fixed-assets/these-eleven- charges-and-fees-can-spike-your-cred- ul/1562139417122_20190701_faq_ • https://www.barclays.co.uk/help/cards/ it-card-bills-significantly-996 visa_cashout.pdf debit-card/debit-card-charges/ • https://www.fidelityrewards.com/credit/ • https://www.danskebank.dk/PDF/PRIS- • https://www.impactbnd.com/blog/how- faqs.do ER-VILKAAR-FAKTAARK/Kort/Card- to-rank-higher-using-long-tail-keywords Conditions-Visa-.pdf • https://books.google.com/ • https://www.dignited.com/47774/what- books?id=0L3zq4D-PHIC&pg=PT333&l • https://www.danskebank.dk/PDF/PRIS- you-can-do-when-your-debit-atm-card- pg=PT333&dq=%22card+statement+th ER-VILKAAR-FAKTAARK/Homepage- is-stolen/ at+you+receive%22&source=bl&ots=_z UK/Privat/Cards/Card-Conditions-Visa- • https://www.fathom.pro/blog/2016/02/ ZoPTyI43&sig=ACfU3U1ZcWgfRHdj1h Dankort.pdf the-design-of-everyday-experiences/ dSvL7k5qLnU0ypig&hl=en&sa=X&ved= • https://www.canada.ca/en/financial- • https://www.reddit.com/r/funkopop/com- 2ahUKEwjOzJmZ8M7nAhWsGqYKHef consumer-agency/services/banking/ ments/afhsif/koolkidtoys_help_please/ zAbYQ6AEwAHoECAoQAQ using-debit.html • https://blogginfotech.com/5-things-you- • https://www.sec.gov/Archives/edgar/ • https://www.bankdhofar.com/Upload- should-do-once-your-atm-card-gets- data/1089695/000095012303007457/ edFiles/UserMedia/file/awareness/ stolen/ y87819e20vf.htm BankDhofar_ATM%20AwarenessBro- chure_En.pdf • https://www.facebook.com/permalink. • https://forum.lowyat.net/topic/3807843/ php?id=657329254736159&story_ all • https://www.quora.com/Mistakenly-I- fbid=670108063458278 • https://www.fidelity.com/cash-manage- have-given-my-ATM-card-number-to- someone-online-Is-there-some-risk-in-it • https://www.thestudentroom.co.uk/ ment/faqs-rewards-credit-cards showthread.php?t=3917051 • https://www.yelp.com/tos/rewards • https://www.crediteurope.ro/en/Data- security • https://www.kotak.com/en/help-center/ • https://books.google.nl/books?id=wNa- cards/debit-card/debit-card-and-pin/ DwAAQBAJ&pg=PA266&lpg=PA266&d • https://shreyamore17.github.io/banking. q6.html html

Alok Raj is an IT Enthusiast, who is passionate about exploring all the latest technologies from research perspective. He has deep interest and understanding of information security and data privacy, especially network security and cryptography. He is IRCA Certified ISO/IEC 27001:2013 Lead Auditor as well as C|EH, CPISI and HCNA certified. He is constantly transforming himself to improve his performance and evolving constantly and responding quickly and intuitively to the changing market dynamics. . [email protected]

Nitin Jain is working as Professor in Apex Institute of Technology, Chandigarh University. He has more than 17 years of vast experience and depth knowledge of teaching at undergraduate and postgraduate level. His areas of research include Ubiquitous Computing, Network Security, and Information Security. He has published more than 10 research papers in National and International Journals and Conferences. . [email protected]

Surnedra Singh Chauhan is working as a Research Scholar at Pratap University, Jaipur. He has 10 years of teaching experience and 2 years of corporate experience with Nokia Siemens Networks. He is working in the field cryptography and security from the past 8 years. He has published 8 research papers in International and National Conferences and Journals. . [email protected]

Scholastic Seed Inc. CYBERNOMICS 19 Volume - 2 February e-issn Argument Issue - 2 2582-5755 Based Credentials

Annexure I       Submission Date Submission Id Word Count Character Count 13-Feb-2020 D63856373 (Urkund) 2875 24618

   

             !"# !$!%   &'(!'&)&)**"))+    ,   -       ).

    ,/

   0,     // )

Note: The Cybernomics had used the urkund plagiarism [http://www.urkund.com] tool to check the originality.

Reviewers Comment Review 1: As we passage into a cashless economy, there is continuously going to be interrogations high over the security in digital expenditures. Review 2: The Mobile apps are one of the most practical smartphone features ever to exist. Apps are so user-friendly that many companies that had previously operated solely via website. Review 3: In my opinion: Privacy is an essential part of day to day living, especially if you are living in a world where everything you do can be tracked by a simple few key presses.

Editorial Excerpt The article has 0% of plagiarism which is accepted percentage for publication the security measures are called as two-factor authentication that greatly decreases the risk of fraudulent activity during digital payments. Expenditures are completed using payment tools. Cash, for example, is a payment gadget. So too are checks. Though, arithmetical payments are not one utensil but rather an umbrella term applied to a range of different apparatuses used in unalike ways, under the group of “Argument Based Credentials (ABC)”.

Acknowledgement Author is highly in debted to Scholastic Seed Inc & editorial team of Cybernomics, For making the write-up in the shape of an article.

Disclaimer All views expressed in this paper are my/our own. Some of the content is taken from open source websites & some are copyright free for the purpose of disseminating knowledge. Those some We/I had mentioned above in the references section and acknowledged/cited as when and where required. The author/s has cited their joint own work mostly, Tables/Data from other referenced sources in this particular paper with the narrative & endorsement has been presented within quotes and reference at the bottom of the article accordingly & appropriately. Finally some of the contents which are taken or overlapped from open source websites for the knowledge purpose. Those some of i/we had mentioned above in the references section.

Citation

Alok Raj, Nitin Jain & Surendra Singh Chauhan “Digital Payments and its Security” Volume-2, Issue-2, Feb 2020. (www.cybernomics.in)

Frequency: Monthly, Published: 2020 Conflict of Interest: Author of a Paper had no conflict neither financially nor academically.

www.scholasticseed.in https://orcid.org/0000-0002-7952-096X

20 Scholastic Seed Inc. CYBERNOMICS