A universal electronic payment model in Zimbabwe integrating with Small and Medium Enterprises and working with mobile databases

Abstract

Electronic payment systems are proliferating in banking, retail in government and everywhere money needs to be exchanged. Electronic payment systems are the everyday technology under use, they are the relevant systems which go hand in hand with technology and they are also high in demand. All these issues enlighten a need to design and implement an electronic payment system that addresses the specific requirements for the Zimbabwean market. An effective and universal electronic payment system in Zimbabwe can solve some problems which are currently encountered in e-commerce, thus we designed a light weight electronic payment model, universal and offering better integration to banks, all merchants and Small and Medium Enterprises. It is comprised of attributes which any electronic payment system is expected to have. It has its own security features especially the offline authentication method and other security aspects which are currently in use by banks. The integrated architectural view of the model makes it a possible solution to some current problems. This model creates a pathway for an ideal full implementation of an electronic payment system. We compared our model with the existing electronic payment systems in Zimbabwe. We realized that our model compares fairly with the existing models.