E-commerce in today's conditions has the highest dependence on network infrastructure of banking. However, when the possibility of communicating with the Banking network is not provided, business activities will suffer. This paper proposes a new approach of digital wallet based on mobile devices without the need to exchange physical money or communicate with banking network. A digital wallet is...

Banks in low-income countries are launching e-banking services such as Internet banking, SMS banking, ATM banking, card banking, point of sales (PoS) and mobile banking. Among these planned services, ATM is the most matured service in many private and state owned banks in Ethiopia. ATM is a recent phenomenon in low-income countries (Olatokun & Igbinedion 2009; Alaba, 2011), and is still being i...

Innovations in electronic banking in Iran have led to the development in capacities such as payment instruments and transactions by cards, which are known as electronic payment equipment in the Iranian banking network. Financial supervision is required to be increasingly based on reporting and regulatory processes to efficiently and proactively monitor risk and compliance at banks and financial...

The most widely used e-Banking instrument in Nigeria is e-Payment, particularly the automatic teller machine (ATM) card. However, with the adoption of e-Banking by all the banks in Nigeria, the volume of cash in circulation has continued to increase pre-and-post bank recapitalization/consolidation exercise. Furthermore, some of the 25 banks that survived the exercise were found lately to have d...

Barclays online banking system is vulnerable to a remote attack which allows an adversary to view customer bank statements and transfer money between a customer’s accounts. The vulnerability has arisen as a result of poor software engineering practice which neglected security in favour of usability. More precisely, Barclays authentication mechanism is reliant on four pieces of customer data, na...

Session key agreement protocol using smart card is extremely popular in clientserver environment for secure communication. Remote user authentication protocol plays a crucial role in our daily life such as e-banking, bill-pay, online games, e-recharge, wireless sensor network, medical system, ubiquitous devices etc. Recently, Djellali et al. proposed a session key agreement protocol using smart...

The Natwest and Royal Bank of Scotland (RBS) online banking systems are vulnerable to a remote attack which allows an adversary to steal money from a customer’s account. The vulnerability has arisen as a result of poor software engineering practice which neglected security. More precisely, the authentication mechanisms used by Natwest and RBS are dependent on six pieces of customer data, namely...

Smart cards have provided security services for a wide range of applications including telecommunication, banking, and citizen identification. Connecting web applications with smart cards is a natural step forward to address some of the security issues in today’s Web. The traditional approach for smart card based web applications provides security, but has the drawbacks of usability and flexibi...