USABILITY BASED RELIABLE AND CASHLESS PAYMENT SYSTEM (RCPS)

The advent of e-payment systems has promulgated considerable design and usability issues. These concerns have manifested themselves as the key inhibitors to the success of electronic payment systems. Credit and debit cards have proved to be popular alternatives to cash payments in retail transactions. However, this is merely due to the unavailability of a system that would provide a reasonable alternative to the threats posed in carrying them. We attempt to propose a system that provides a platform for cashless transactions based on reliability and usability features. The Reliable and Cashless Payment System (RCPS) entails the involvement of an accredited financial institution that invokes an element of trust essential to design of an effective payment system. In this paper we address the security flaws in modern payment systems and propose a model that would make possible payments without cash or credit cards. We do also consider HCI issues, usability concerns and soaring financial crime rate in our milieu.