Dublin Core
Title
Analysis of Security Issues In Electronic
Payment Systems in Ghana
Payment Systems in Ghana
Creator
Ellis Senyo Cudjoe Dzakpasu
Description
The patronage of e-payment systems has significantly increased over the years. In some parts of the world, it has become the most preferred medium of payment. As at 2015, seven out of eight transactions were done electronically in Europe (BUONAGUIDI, 2017). E-payment systems have become essential over time and has necessitated the development of stringent controls to ensure that they are safe to use. Due to the several types of e-payment systems (mobile money, card payment, ACH1) being used in Ghana, the research was narrowed down to card payments give focus to the research in order to make relevant analysis. To make a significant argument on the subject matter, this research employed the use of questionnaires and interviews. Questionnaires were developed for users or consumers of e-payment systems whiles interviews were developed for e-payment vendors (bank). Forty people responded to the research and gave their views on the subject matter whiles five banks represented the banking/vendor space. The inclusion of both card users and vendors in the research gave a 360 analysis of the card payment system. Consumer and producer views were obtained and analyzed provide a holistic view.
The results of the research showed that 80% of banks in Ghana were not certified in card payment security(PCIDSS2). This means that although majority of banks are issuing out cards and card payment systems (POS and web acquirers), there is no proof that they(banks) have a secured infrastructure to support card payment systems. The results also showed that only 53% of users practice acceptable ways of using cards.
In conclusion this research showed that although some users are aware of basic card security, there is still a lot of work to be done by card payment vendors (banks) to ensure the security of card payment systems in Ghana. The requirements of this certification(PCIDSS) are stringent
and will ensure that the accompanying risk of being a provider of card payment systems are mitigated appropriately.
The results of the research showed that 80% of banks in Ghana were not certified in card payment security(PCIDSS2). This means that although majority of banks are issuing out cards and card payment systems (POS and web acquirers), there is no proof that they(banks) have a secured infrastructure to support card payment systems. The results also showed that only 53% of users practice acceptable ways of using cards.
In conclusion this research showed that although some users are aware of basic card security, there is still a lot of work to be done by card payment vendors (banks) to ensure the security of card payment systems in Ghana. The requirements of this certification(PCIDSS) are stringent
and will ensure that the accompanying risk of being a provider of card payment systems are mitigated appropriately.
Subject
MSc Management Information System
Publisher
Ghana Technology University College
Date
January, 2018
Contributor
Isaac Hanson