Abstract

This paper examines the increasing importance of robust cybersecurity measures in the digital payments industry. As the volume and value of online financial transactions continue to grow exponentially, the sector faces a corresponding surge in cyber-attacks, necessitating advanced cybersecurity protocols. This study explores key cybersecurity measures and implementation strategies, including encryption, multi-factor authentication (MFA), tokenization, artificial intelligence (AI)- based fraud detection, and regulatory compliance, to safeguard digital payments against various cyber threats. Through a detailed review of existing literature, case studies, and statistical analysis, the article provides strategic insights into how organizations can enhance security in digital payment ecosystems, maintain compliance, and achieve resilience in the face of evolving cyber threats.