Paytm Paytm is India’s popular third-party digital payment medium. This company’s main product is a digital wallet that allows a customer to pay online through his mobile phone. Online shopping has emerged as a popular trend in the past few years and thus digital wallets are used by many customers. The main advantage of Paytm is that one does not need to deal with physical money while shopping. An online receipt is generated while the payment is processed and this is how the buyer’s and the seller’s bank accounts are connected via the internet. Money is transmitted from the buyer’s bank account to the seller’s bank account (Mustafa, Abu Hassan, & Abd Aziz, 2016). Paytm has eradicated the practice of visiting a bank’s branch for depositing or withdrawing physical money. One can link his bank account to the Paytm e-wallet and transfer money through the internet.

Problems Created Paytm creates a problem for the government because it is a third-party payment medium and buyers and sellers can bypass the tax payment systems through it. When a cash transfer takes place through the banking system then the tax department can track it (Cui, Pan, Newell, & Cui, 2017). But if a third-party transaction medium is used then it remains untracked.

Mechanism The user’s bank account gets connected to a digital wallet through Paytm. He can transfer some money from his bank account to the e-wallet whenever he needs to make a transaction through this e-wallet (Mustafa, Abu Hassan, & Abd Aziz, 2016). On the other hand, the seller is also connected to Paytm e-wallet and the buyer can transfer the purchase amount directly to his wallet. After that, the seller will have to transfer the amount of money from the e-wallet to his bank account and then withdraw physical cash whenever he needs it (Choi & Sun, 2016). He can also choose to leave the cash on his e-wallet and use it for future transactions. The whole system is encrypted in this method as a malicious user can pose a huge threat to the user’s bank account.

Difference between Paytm and other digital payment solutions In many online payment systems, the user has to process the transactions through his bank account. This can take a lot of time and is much more complicated. Transaction failures are very common as millions of users are accessing the merchant sites and the bank’s website simultaneously (Cui, Pan, Newell, & Cui, 2017). But Paytm runs on a different theory as it involves a digital wallet that is easier to handle. It is secured as the user’s bank account is not accessed during the payments.

Advantages of Paytm Users can make a contactless payment through Paytm. They need not handle physical cash as this payment system involves an e-wallet. Card systems attracted a lot of charges from the banks. Both the seller and the buyer wire charged with a service charge. But with Paytm, one has to pay a small amount of charge for transacting money. One can also avail of the discounts that Paytm offers for carrying out transactions through its e-wallet.

Paytm also has a credit service for its users. Each user is given a credit limit as per his activities over this online payment system.

Problems The tax departments face a major problem due to these online payment systems as they are unable to track the transactions processed through these payment systems. They can track the transactions when one pays or receives money through his bank account (Mustafa, Abu Hassan, & Abd Aziz, 2016). This helped them impose a tax on the user through his bank account. But, when a transaction is processed from an overseas bank account then the tax departments find it more difficult to track the source. These types of transactions are untracked and the user can cleverly bypass the taxes.

Abstract How IT plays an important role in Infrastructure Management

This paper will discuss data security and the requirement of security in IT systems. It will also focus on the steps that should be implemented on social media sites for securing data. The new-age business styles and the life of the users are connected to the internet and thus it is important to secure the IT systems used by everyone. Many unauthorized users can access the accounts, process illegal transactions, and also steal confidential data from the systems. A security breach can be of any form that can make the wrong use of the systems and take advantage of the loopholes that were not addressed. It can pose a huge threat to the user and the organization involved in the whole process. Malware, privacy attacks, viruses, adware, spyware, data phishing, etc. are common terms in the field of internet and network security issues.

Index terms: Network security, IT security, IT infrastructure, malware

Introduction The modern world is dependent on computers as they control businesses, bank accounts, colleges, schools, and many other bodies. All the computers have to be connected to the internet for their operations and thus their security should be given a lot of importance. The IT systems of the whole world are connected either to the intranet or the internet which gives rise to several security problems (Ali, Malik, Ahmed, Raza, & Ilyas, 2019). The IT network and the systems are exposed to a large number of security attacks that can reveal the confidential data of all the users involved. This can be a huge risk for the operations of the multinational business and also single users (Yang, et al., 2019).

A common security threat is the illegal access of the system as one can extract data or attack the system through this process. Today, all the people are connected to various social media sites which are exposing them to several data privacy risks and security attacks (Ali, et al., 2018). Users are unaware of the security problems that can take place through social media sites and one click of theirs can harm privacy. Cyber-attacks have increased, malware is more complicated, and ransomware can charge a huge amount of money presently (Zheng, Cai, Luo, Tian, & Bai, 2019). Many internet companies are promoting digital payment systems but a minute loophole in the security of these systems can lead to the loss of a huge amount of money for all the users involved.

Literature Review IT infrastructure: All the components of the information technology that include the physical components, for example, the computers and the networking hardware form the IT infrastructure (Egele, Stringhini, Kruegel, & Vigna, 2017). The software used in the system also constitutes an important part of the IT infrastructure. All the networks, software, hardware, etc. that are required for the operation, testing, controlling, and delivering the IT services from the IT infrastructure (Kumar, Saravanakumar, & Deepa, 2016).

Network infrastructure: Various hardware and software components are used for creating the network, connecting the systems, activating operations, and communicating within the organization (Ali, Malik, Ahmed, Raza, & Ilyas, 2019). All the components required for establishing an intranet or internet and initiating communication in the enterprise can be called the network infrastructure.

Malware attack: Any malicious application that can affect the performance of a computer or a communication network is called malware (Egele, Stringhini, Kruegel, & Vigna, 2017). Malware is injected within a computer system for carrying out security breaches and this can be with or without the consent of the affected users. This type of security attack takes place over the internet (Choi & Sun, 2016). Here, the victim is sent an email or some other application that contains malware.

IT security: IT security means safeguarding the computers and the network against illegal uses, disturbance in the services, and extortion of confidential data (Sabatini & Sarracino, 2019). Firewalls and other private keys are used that provide protection.

Security Issues Computer virus: A computer virus is a software that can be transferred from one system to another and the user will remain unaware (Ali, Rauf, Islam, Farman, & Khan, 2017). This software can deactivate the computer’s important features, damage important files, and also steal passwords.

Spyware: This software can spy on the system of the user. Organizations are highly vulnerable to this type of security problem where spyware can record browsing data and all other confidential information (Zheng, Cai, Luo, Tian, & Bai, 2019). It can transfer the collected data to a coveted location via the internet. This software can be attached to legal software or adware that has underlying clauses.

Bots: A bot is automatic and can carry out various activities against time. Its main function is to capture a computer system and affect its regular performances (Yang, et al., 2019).

Ransomware: Ransomware can be called malware that is operated through the internet. It attacks a network and captures the control of the target computer (Kumar, Saravanakumar, & Deepa, 2016). The software can encrypt the files present in the system or it can lock them down and prevent the user from accessing them. Then the attacker demands a huge amount of money for releasing the device (Ali, Rauf, Islam, Farman, & Khan, 2017).

Social media attack: Social media platform is a strong medium for various illegal activities. Users are not much aware of their activities on these sites and share confidential data (Zheng, Cai, Luo, Tian, & Bai, 2019). Attackers manipulate this data and then hack the personal account of the user.

Social engineering: This type of attack is less based on computers and involves the emotions of the users. Here, a hacker manipulates a user emotionally and wins his trust (Egele, Stringhini, Kruegel, & Vigna, 2017). Then the attacker extracts all the personal details, bank details, and other confidential data from the user. He will behave as a reliable entity initially and the user falls prey to his tricks and shares all the data (Ali, Malik, Ahmed, Raza, & Ilyas, 2019). The hacker can use SMS or e-mails for giving shape to this form of cyber-attacks.

Measures related to social media Making employees aware: An organization should emphasize the security of its devices as they are exposed to social media attacks. All the employees check their social media accounts through the organization’s computers or their devices frequently (Sabatini & Sarracino, 2019). The company should teach its employees that they should not access social media sites through its computers and not access the official data through their devices. Employees should be trained on password protection, sharing data, detecting spam ware, and other methods of data phishing (Zheng, Cai, Luo, Tian, & Bai, 2019).

Restrict access: Employees should restrict the use of social only to their external world. They should enable strong settings on their profile to prevent hacking (Ali, Rauf, Islam, Farman, & Khan, 2017). People share a lot of personal information on social media sites and this data can be analyzed by an attacker very easily and he can plan his moves.

Updates: All social media platforms have some security protocols that are strengthened after every attack. The owners of social media sites keep on detecting the loopholes in their system and then design solutions that can prevent future attacks on the users (Kumar, Saravanakumar, & Deepa, 2016). This is why users are advised to update their social media applications regularly.

Password hygiene: It is important to protect the passwords and this is why users should use powerful and undetectable passwords on their social media accounts (Sabatini & Sarracino, 2019).

Firewalls: Firewalls can identify and prevent the entry of malicious software into the servers. This is the reason social media owners implement them within their systems. A firewall is enhanced regularly and even comes with AI (Sabatini & Sarracino, 2019). This type of firewall can upgrade itself after facing a security attack. They can detect the attacks posed by the system and combat them efficiently.

Conclusion The whole world is shifting towards the use of computer-based systems that can be operated and controlled through machines. This has increased the concerns for web security, IT security, and network security. Each device collects a huge amount of data every day and it is the responsibility of the organizations to protect the data. Users leave behind a digital footprint while accessing the internet. Malicious users can use these footprints for illegal uses and attack the privacy of authorized users.

Many security providers keep on detecting the risks and build firewalls accordingly to enhance the security of the IT systems. The defense system uses artificial intelligence that can protect IT systems from any sort of cyber-attack. Many AI-based security components are attached to the networks that are updated in small intervals. The firewalls learn from the attacks they face and improve their performance.

Social media users also need to be aware of the methods that can enhance the internet security of their devices. This will prevent them from malware attacks and data exploitation. They should be careful about what they share over the internet as a wrong step can make them and their company vulnerable to attackers. Therefore, it is advised to follow some basic internet practices that will protect their confidential data.

Choose your dream team &hire Technical/Marketing resources from Citta. Upgrade your software & Digital Marketing capabilities with experienced top-notch experts.