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Abstract

The growing dependence on digital payment systems has brought about important progresses in suitability and convenience for customers and industries alike. Though, this growth in digital transactions also offerings sharp dangers related with cybersecurity cracks and scam. This paper discovers the several security approaches applied in digital payment systems to defence sensitive financial data and certify protected transactions. Key security measures discussed include multi-factor authentication (MFA), data encryption, and compliance with regulatory standards such as GDPR. Moreover, the role of protected development of applications, incessant monitoring, and end-user schooling is observed as an important mechanisms of a vigorous safety model. Through these mutual efforts, the main goal of digital payment systems is to adoptive trust and assurance amid users while modifying the cyber-risks of cyber threats. This paper accomplishes by highlighting the importance of continuing technical modernisation and regulatory association to discourse emergent security issues in the growing digital payment systems.