Study Of Security Postures In Payment Gateways Using a Case Study Approach

Abstract

The emergence of e-commerce has given birth to many big and small online businesses which are operating through apps and websites. These apps and websites use payment gateways to facilitate the online monetary transactions between the business and the customer. As these payment gateways handle sensitive customer data and act as enablers for online transactions, it is most vital to pay attention to the security of their framework. The objective of this paper is to find ways to optimize the security of the payment gateways by performing secondary research and analysing all the former cases of breaches that happened at the payment gateway level and then come up with a standardized set of security measures to prevent future attacks. This paper is unique as it will help the government to find out whether the current regulations are needed to be revised and updated. The study will also aid the companies and the payment aggregators to adopt certain must-have security aspects in their operation framework to prevent future breaches.