Assessing the Challenges of Electronic Payment Systems in the Retail Sector: Chinhoyi. A case of TM Pick N Pay Zimbabwe
- Author
- BILLY GEORGE
- Title
- Assessing the Challenges of Electronic Payment Systems in the Retail Sector: Chinhoyi. A case of TM Pick N Pay Zimbabwe
- Abstract
-
The electronic payment system's adoption by retailers in Zimbabwe's retail sector has led to risks, including virus dissemination, hacking, and card fraud. Therefore, the research aimed to record the challenges and threats of cyberattacks in the retail sector, with a specific focus on Chinhoyi town's retail sector. The study had the following objectives as its guide: to identify electronic payment systems accessible in the retail sector in Chinhoyi town, to establish the reasons for the growth of electronic payment systems in the retail sector in Chinhoyi town, to determine the risks associated with electronic payment systems in the retail sector in Chinhoyi tow. The researcher utilized a descriptive case study research design, employing questionnaires and interviews as the primary data collection tools, to gather information from a sample size of 50 participants. The study's respondents were selected using both stratified random and purposive sampling methods. The data was analyzed using Microsoft Excel 2013, and tables and graphs were used to illustrate the findings. The main risks associated with digital payment methods used in the retail industry in Chinhoyi town were determined to be card fraud, hacking, and virus transmission. Reputational damage, direct monetary losses, and additional security costs were found to be the major challenges posed by electronic payment systems in the retail sector in Chinhoyi town. It was also determined that the current defenses against cyber threats in the retail industry were not particularly successful. The researcher highly suggested backing up crucial data, maintaining device tracking, limiting access procedures, and rigid prosecution for rebellious workers as effective measures against cybersecurity threats.
- Date
- 2023
- Publisher
- BUSE
- Keywords
- Cyber security
- Retailers
- Supervisor
- N/A
- Media
-
Billy George.pdf