Further Development of a Secured Unified E-Payment System in Nigeria: A Critical Viewpoint

E-Business - Applications and Global Acceptance is a collection of well-written papers that employ empirical and theoretical/conceptual approaches to highlight insights on the global acceptance of electronic business (e-business) and other useful applications and conceptualizations in the area. As our knowledge of the e-business phenomenon continues to mature and evolve, it is pertinent that new insights and information be made available. This edited book is published against such a backdrop. In essence, this book seeks to provide value to both e-business researchers and practitioners, with information sourced from differing regions of the world. The diversity in the sources of insights is welcome and this edited book covers a wide range of interesting, topical, and timely issues dealing with the acceptance of e-business applications or systems, business processes integration and management, the extension of e-business concepts to not-for-profit (nonprofit) organizations, and the construction of a service innovation model. Without a doubt, this book will be a comprehensive reference point for knowledge seekers who want to understand emerging conceptualizations, processes, and behaviors in the e-business domain. following:

• Non-repudiation: to ascertain that all parties have non-deniable proof of receipt.
• Confidentiality: to ascertain that transactions are protected from possible eavesdroppers.
• Reliability: to ascertain that there is reduced possibility of failure.
• Authentication: to ascertain that there are reliable proofs of identities of all parties involved.
• Authorization: to ascertain that individuals are recognized and granted the desired rights and privileges.
Therefore, any reliable e-Payment System should guarantee privacy, integrity, compatibility, efficiency, acceptability, convenience, mobility, anonymity and low financial risk. The smart card-based e-Payment system is essentially a credit card sized plastic card with memory chips and probably an embedded microprocessor that offers greater storage capacity than the ordinary credit card. While the credit card stores a single charge account number in the magnetic stripe, the smart card can hold hundreds of such data, and can serve multiple identification purposes such as personal identification, bank account identification and transactions, health insurance identification among others (Sumanjeet, 2009). Therefore, the objectives of this paper is to design a unified (single) smart card-based e-Payment system that can be used for banking transactions in all the banks in Nigeria as well as serving other forms of identification. Zulu (2006) identified the challenges of e-Payment in Africa as inadequate telecommunication infrastructure which include: connectivity failure in telephone lines; low Internet bandwidth; high Internet cost, unavailability of dedicated data service networks; and close financial networks as well as frequent power interruption. Similarly, he identified lack of proper legal and regulatory framework and low level of credit access as the other challenges. The threats notwithstanding, there are standard security features already developed to handle them. Some of the available solutions include public-key cryptography, digital signature and certificate, secure socket layer (SSL), and secure electronic transaction (SET) as well as the introduction of biometrics authentication among others (Pesonen, 1998;Zulu, 2006 andAyo, 2009).
One of the greatest threats to e-Banking is the increasing trends of identity theft, which is a major challenge to the Internet age (Helmbrecht, 2008). Therefore, there is need for a technology that is safe, convenient and not too demanding on the part of the user because of the level of literacy in the developing nations of the world, particularly Nigeria.
The other part of the paper is arranged as follows: section 2 presents the state of e-Payment in Nigeria; section 3 presents the research design; section 4 presents the system design; while section 5 presented the economic consideration of the design and; the conclusion of the work is presented in section 6.

The state of e-payment in Nigeria
Nigeria is predominantly a cash-based economy with a lot of cash in circulation. Analysts o p i n e d t h a t t h e c a s h -b a s e d n a t u r e o f p a y m e nts in the country is responsible for the abysmally low level of participation in e-Commerce where the acceptable medium of settling transactions is e-Payment (Ojo, 2004;Ayo, 2007;& Ovia, 2002).
The Governor of the Central Bank of Nigeria embarked on bank recapitalization exercise as a strategic move to save the Nigerian banking sector from incessant failure and collapse (Nwachuku, 2005 andGbolahan, 2005). The result of the exercise brought about a reduction of the 89 banks to 25 solid and strong banks through mergers, acquisition and recapitalization of asset base. As reported by Ayo et al. (2007), virtually all the 25 banks in Nigeria that survived the recapitalization exercise engaged the use of ICT for efficient service delivery. All the banks have one form of e-Payment system or the other.
Alao (2009) reported the colossal amount of money lost in Nigeria to ATM fraud through ATM card cloning, PIN theft among others and government had resorted to removing ATM from public places as well as installing security cameras at the ATM locations to track the activities of fraudsters. However, the level of ICT usage notwithstanding, the level of adoption of e-Banking by the citizen is still very low.

Research design
The research design is two-fold. On one hand, a set of questionnaire was designed and administered randomly to 300 respondents out which 239 were returned representing about 80%. Cronbach's reliability value of 0.782 was obtained, which attests to the reliability of the instrument. Pertinent questions about the demographic profile of respondents as well as the state and operations of ATM Card were asked and the data collected was analysed based on descriptive statistics using the SPSS and the results were presented in tables 3, 4 and 5. On the other hand, a design of the proposed unified Smart Card-based ATM was presented as well as its activity diagram. It is interesting to note that majority (about 98%) of the respondents operate a bank account. Also, about 88% of the respondents have two ATM cards or more. This gives validity to the proposed unified e-Payment system.

Gender of Respondents
Most of the respondents attested to the convenience of the ATM services (59%) as well as its simplicity (69%). However, its reliability (25%), safety (16.3%) and privacy (31.8%) are in doubt. Therefore, a greater percentage of the respondents disagreed with its reliability, safety and privacy features. However, most of the respondents favour the desirability of having a unified (single) ATM card for all banking transactions (36.8%) as well as the inclusion of a fingerprint reader on the teller machine (66.9%).

System design
A typical ATM has a keypad that is composed of:   Table 6 shows the features of the ATM of four banks (UBA, Oceanic, Intercontinental and CMFB) in Nigeria. It is obvious that no special design is required. A common choice for the design is one that has numeric keys (0-9), character keys (A-Z, *, #, -, +), and operation buttons (OK, Change, Cancel), while the blank button can be replaced with the biometric fingerprint reader.
The structure in figure 2 represents the unified Smart Card-based ATM Card that has the possibility of being used for multiple identifications. Four (4) different ATM Cards for the four banks were considered and their features i n c o r p o r a t e d t o a r r i v e a t t h i s d e s i g n . Furthermore, considering the spate of identity fraud, the law enforcement agencies should be able to check at random the various ATM locations to verify the identity of the carrier, though less frequently, hence the inclusion of the holder's passport, gender and or signature. Similarly, in case of accident the blood group is included. All other details are contained on the National Bank's Databank which is a repository of the identities of all banks' customers in Nigeria.

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The activity diagram is shown in figure 3. It shows an additional layer of information, which is the selection of bank to transact business with since a single card is being used for several banks, after which the usual (old) display follows: User identification (PIN) but now with fingerprint capture; Selection of Operation (Enquiry, Withdrawal etc); Selection of amount of money; Request for receipts and Exit. Furthermore, all other changes are software based. The ATM monitor has 8 operational buttons distributed at both sides of the screen. There are 25 banks in Nigeria, modeled banks A to Y, therefore 7 banks can be listed per screen while the 8 th key reads "More" for the next screen of 7 banks and the "More" Key, more and more until all the banks are displayed.

Cost implication of the design
The cost implication of this design is very minimal on the part of the operators (banks). All the Keypads have a blank button which can be replaced with fingerprint reader through the USB Connection to the CPU. Similarly, the cost of card redesign is not considered a major challenge since each card has expiry date. Therefore, the cost of a new card is borne by the card holder. Similarly, all other changes are software based: the selection of banks and fingerprint authentication which can be taken for regular software update and the cost borne by the operator. However, the major task is the integration of the various banks accounts into the National Banks' Databank. This design approach will most likely be a cheaper alternative than installing security cameras at each location in addition to the cost of relocating the machines to more secure premises.

Limitations of the study
From available statistics, 80% of the Nigerian populace are unbanked and 70% of the populace are illiterate (Ayo, 2009 andOkoegwale, 2011). Therefore, the limitations of the system include: high illiteracy level and lack of banking culture arising from lack of confidence and trust in the banking system.

Scope for future research
Future research should investigate the Usability of the system as it is likely to impart positively on the banking habit if it is user friendly, reliable and efficient. Furthermore, since the Voting and Banking age is 18years, with increased percentage of the banking populace the card could be further developed for use as the voter's card with a reliable databank formed from the combined databases of the switching companies. Also, the incorporation of voice processing can help persons with disability, particularly the visually impaired to transact banking businesses.

Conclusion
The level of adoption of ICT in the banking sector in Nigeria is on the increase, yet the amount of cash in circulation is equally increasing, a situation which is attributable to lack of safety, security, privacy and reliability in the e-Payment instruments. Therefore, the introduction of a smart card-based ATM with biometric authentication will ameliorate these challenges. More than that, the design of a unified smart card-based ATM with biometric authentication is cost-effective and secured. No special design is required as the current system can accommodate the proposed features at minimal cost.
The fingerprint scanner can be accommodated on the keypad while a slight software redesign is required to accommodate a layer of service that will enable the user select a bank of choice. Most importantly, the number of ATM required is drastically reduced, which reduces the cost of production and renewal, and there is enhanced safety, security, and privacy. Furthermore, the fingerprint authentication will be a cheaper alternative than to relocate all ATMs in Nigeria (several thousands of them), to safer premises and the inclusion of security camera at each location. E-Business -Applications and Global Acceptance is a collection of well-written papers that employ empirical and theoretical/conceptual approaches to highlight insights on the global acceptance of electronic business (ebusiness) and other useful applications and conceptualizations in the area. As our knowledge of the ebusiness phenomenon continues to mature and evolve, it is pertinent that new insights and information be made available. This edited book is published against such a backdrop. In essence, this book seeks to provide value to both e-business researchers and practitioners, with information sourced from differing regions of the world. The diversity in the sources of insights is welcome and this edited book covers a wide range of interesting, topical, and timely issues dealing with the acceptance of e-business applications or systems, business processes integration and management, the extension of e-business concepts to not-for-profit (nonprofit) organizations, and the construction of a service innovation model. Without a doubt, this book will be a comprehensive reference point for knowledge seekers who want to understand emerging conceptualizations, processes, and behaviors in the e-business domain.