SECURING MOBILE PAYMENTS: THE IMPACT OF BLOCKCHAIN TECHNOLOGY ON TRANSACTION INTEGRITY

This study investigates how blockchain, tokenization, and smart contracts improve security and transparency in mobile payment systems, addressing critical vulnerabilities in the increasing mobile payments industry. The main research questions are: (RO1) How can integrating blockchain technology improve the transparency and security of mobile payments? (RO2) Why do tokenization and smart contracts play a crucial role in improving security for mobile payments? Case study outcomes include: (RO1) Shido Wallet's decentralized blockchain provides more control and transparency over their financial transactions, overcoming traditional security and trust concerns. Project Khokha illustrates blockchain's scalability and efficiency by allowing for high-speed, confidential interbank transactions. (RO2) A case study of Doku's e-wallet demonstrates that dynamic tokenization greatly decreases card-not-present (CNP) fraud by producing unique transaction codes, lowering data leakage risks. Accenture's blockchain-based smart contracts decrease fraud risks by automating secure, unchangeable transactions with no intermediaries. The following conclusions are drawn: (RO1) Blockchain integration in mobile payments improves transparency and consumer confidence by decentralizing control, but challenges remain in maintaining high scalability and privacy standards for large-scale use. (RO2) The combination of tokenization with smart contracts provides effective fraud prevention and transaction integrity; nonetheless, there are continuous efforts to improve efficiency and regulatory alignment. Future research should examine long-term user trust, compare emerging technologies, and assess regulatory frameworks, contributing to a secure, transparent mobile payment landscape.