Secure Digital Payments System Using Blockchain Technology: A Survey-Based Study

The era of digital payment systems leads to dynamic changes in economic growth. The trend of digital innovation is where business transactions change from cash to electronic-based transactions. The digital payment system is not introduced to replace cash but it is used as a quick and secure alternative for payments. Motivated by recent trends in payment systems this study intends to review the available digital payment modes to highlight the scope of scan and pay method of digital payments and the methodology used by previous researchers to identify the gap between the scan and pay transactions and study for further developments. Besides enhancing the utility of the digital payment system, the major focus is on enhancing user experience and minimizing transaction failure, the privacy of the user is also a concern in this digital era, and the suggestion of using specially designed blockchain technology and cryptographic methods we can secure digital payments to a greater extent.