Prototype of a security model to mitigate risks in the management of electronic money in Ecuador

Segundo Moisés Toapanta Toapanta, Alejandro Alfredo Sotomayor Balladares, Dario Fernando Huilcapi Subia, Luis Enrique Mafla Gallegos

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

It was determined a risk point in the payment model with electronic money, which is the time of the consumer’s withdrawal and time of the provider’s deposit. The problem is the damage caused to the information by the lack of a model to mitigate the risks to which the transactions of the payment system are exposed. The objective is to generate a prototype of a security model for the management of electronic money in Ecuador through the adoption of a cryptographic algorithm and improve the transactions security. It was used exploratory and deductive research as a method to analyze the reference information and the sequence of steps for the development of a prototype. It turned out a conceptual model of the participants in Ecuador; prototype electronic money security model; a prototype algorithm applied to the security of electronic money; a flow chart of the payment with electronic money; a mathematical formula to calculate the load of the model. It was concluded that the adoption of the AES algorithm in a security model for transactions generated in financial inclusion is robust and effective; this research has an alternative for the management of electronic money.

Original languageEnglish
Title of host publicationProceedings of the 3rd World Conference on Smart Trends in Systems, Security and Sustainability, WorldS4 2019
EditorsXin-She Yang, Nilanjan Dey, Amit Joshi
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages87-93
Number of pages7
ISBN (Electronic)9781728137803
ISBN (Print)9781728137803
DOIs
StatePublished - 1 Jul 2019
Event3rd World Conference on Smart Trends in Systems, Security and Sustainability, WorldS4 2019 - London, United Kingdom
Duration: 30 Jul 201931 Jul 2019

Publication series

NameProceedings of the 3rd World Conference on Smart Trends in Systems, Security and Sustainability, WorldS4 2019

Conference

Conference3rd World Conference on Smart Trends in Systems, Security and Sustainability, WorldS4 2019
Country/TerritoryUnited Kingdom
CityLondon
Period30/07/1931/07/19

Keywords

  • Cryptographic Algorithms
  • Electronic Money
  • Payment Model
  • Security Information
  • Security Model

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