Journal of Information Technology & Software Engineering
Open Access

Abstract

Holistic Approach to Mobile Cash Transaction

Abba Hassan, Bala Yakubu Mohammed, Bulama Mohammed, Mohammed Lamir Isah

The use of mobile money for transactions in Africa is steadily increasing, with the potential to revolutionize Africa's dominant cashless economy. With the increasing use of mobile money services and the number of daily business use cases, it is essential to develop a comprehensive approach to mobile financial security that reduces security exposure and prevents fraud, as some providers have lost millions of dollars of mobile money to this growing threat. This investigation was a case study on Nigerian mobile financial security and collected qualitative and quantitative data through questionnaires and structured interviews with key Mobile Network Operator (MNO) staff. The main conclusions of the research are the general notion that there is no direct link between mobile phone protection and mobile money security. It has also been found that one of the main causes of consumer-led fraud is PIN sharing. When dealing with mobile money fraud, we recommend that the service provider provide users with mobile money security tips at least twice a year through Short Message Service (SMS) to alert them to the security of their mobile phones.

Published Date: 2021-01-28; Received Date: 2020-12-17