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The Significant Role of Payment Technologies - Case Study Example

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The paper "The Significant Role of Payment Technologies " states that the research will provide an insight into different perspectives of technological impact on the security of payments, it will not do anything to reduce such impact or effect on millions of consumers around the globe…
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The Significant Role of Payment Technologies
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Download file to see previous pages Every year, annual reports identify an increment in fraud related activities despite growth in such applications, and thus, it has now become very imperative to acquire effective solutions related to identified drawbacks and shortcomings in these payment systems.
In this regard, the proposed dissertation will identify and discuss different technologies that are playing a significant role in minimizing fraud-related activities, as well as, improving the security of payment processes and applications. Moreover, the researcher will endeavor to acquire information related to identified benefits, as well as, drawbacks of such technologies, which will allow the study to take a stand in the end. Different issues related to payment security-related technologies will be discussed that will provide an insight into the contemporary, as well as, future developments in this sector. Some of the major payment processing technologies used by previous and current banking systems are handwritten signatures, facial recognition, credit card, fingerprint, chip and pin smart cards, iris recognition, voice recognition, vein detection, and a number of biometric technologies that will change the perspective of security systems in the future. However, the dissertation will focus on chip and pin cards and iris recognition in detail, along with some details on other technologies as well. The reason of choosing these two technologies in detail is that one of them has been successfully implemented in most of the banking systems around the globe, which will allow the research to critically analyze different issues related to this technology. On the other hand, iris recognition is an innovative and expensive biometrics technology that was only a part of sci-fi movies a few decades ago. However, advancement in biometrics technology has resulted in its accessibility to the real world as well.  ...Download file to see next pagesRead More
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