Design of a Secure Digital Payment System for University Campuses in Federal University, Lafia, Nasarawa State
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Background of the Study
The growing reliance on digital transactions in academic institutions necessitates secure payment solutions to facilitate seamless financial operations. University campuses increasingly depend on digital payment systems for tuition fees, hostel payments, cafeteria bills, and other transactions (Adebayo & Yusuf, 2024). However, the security of these systems remains a critical challenge due to cyber threats, fraud, and unauthorized access.
A secure digital payment system ensures safe and efficient transactions while minimizing risks such as phishing attacks, data breaches, and identity theft. Recent advancements in cryptographic security, multi-factor authentication, and blockchain technology have improved the safety of online financial transactions (Olowu et al., 2023).
This study aims to design a secure digital payment system for Federal University, Lafia, that integrates robust encryption techniques, user authentication mechanisms, and fraud detection algorithms to enhance transaction security and reliability.
Statement of the Problem
Universities face challenges in ensuring secure digital transactions due to cyber threats, lack of strong authentication mechanisms, and vulnerabilities in existing financial systems. Federal University, Lafia, lacks an efficient and secure digital payment infrastructure, making it prone to fraudulent activities and financial losses.
This study seeks to address these security concerns by designing a digital payment system that incorporates enhanced encryption, biometric authentication, and fraud detection mechanisms to improve security and trust in campus financial transactions.
Objectives of the Study
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To analyze the existing digital payment challenges in Federal University, Lafia.
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To design a secure digital payment system integrating encryption and authentication mechanisms.
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To evaluate the effectiveness of the proposed system in mitigating fraud and enhancing security.
Research Questions
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What are the major security challenges affecting digital payments in Federal University, Lafia?
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How can encryption and authentication mechanisms improve the security of digital transactions?
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How effective is the proposed digital payment system in preventing fraud and unauthorized access?
Significance of the Study
This study will help universities enhance the security of digital financial transactions by proposing a secure payment system that integrates modern encryption techniques and fraud detection mechanisms. The findings will benefit university administrators, students, and financial service providers.
Scope and Limitations of the Study
The study is limited to the design and security aspects of a digital payment system in Federal University, Lafia, Nasarawa State. It does not cover general financial management or external payment platforms.
Definitions of Terms
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Digital Payment System: A financial platform that enables electronic transactions.
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Encryption: A security technique that converts data into an unreadable format to prevent unauthorized access.
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Biometric Authentication: A security process that verifies a user's identity using biological traits such as fingerprints or facial recognition.
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