Simplified Micropayment Mechanism to Eliminate the Risk of Double Payment in E-Commerce

Abstract

In recent years, the emergence of the Internet and E-commerce has steered significant growth in digital transactions. Businesses today need mobile wallets, credit and debit cards, and e-cash to digitize payments. Digital payment systems are in transition and promise amazing advancements, but they also pose many risks and as the number of online transactions is increasing tremendously, we need a security system that follows all security norms. In this paper, we study digital transaction systems and evaluate various components of E-commerce plat-forms to address the security of these services. We evaluate the attributes that affect the security of digital payment processes and identify several barriers that hinder their performance to propose a simplified payment mechanism for micro-payments that eliminates the double payment problem.