Improve Privacy-Preserving for User Identity: Possibilities, Challenges, and Future Directions

Abstract

Electronic payment via mobile devices has become the modern way of payment. While facilitating and speeding up many payment processes, this method also brings about certain crucial problems related to electronic payment where the users fear putting the security of their bank accounts and personal information at risk in electronic payment operations. Electronic payment services do not fully secure personal accounts and may be subjected to violations. Yet compared to traditional offline mode payment channels, mobile payments are transforming the supply chain of businesses and sectors and are crucial to the rapid expansion of online markets. The kind of mobile payment channel utilized, the security infrastructure that accompanies it, the stakeholders engaged, and the m-business models chosen all have a role in the success of an e-business. However, concerns about preserving the identity and privacy of users, referred to by users as sensitive information, should not be dealt with via the Internet. In this study, we describe the most recent research in this field and give a thorough literature review of mobile payment.