Digital Payment:

Digital payments refer to transactions made using electronic devices, such as smartphones,
computers, or dedicated payment terminals, instead of traditional methods like cash or checks. They
involve transferring funds electronically between parties through various platforms and services.
Some common types of digital payments include online banking, mobile wallets, contactless card
payments, and peer-to-peer (P2P) money transfers. The main advantages of digital payments are
convenience, speed, security, and reduced risk of fraud compared to cash transactions.

Key features of digital payments include:

Convenience: Users can make transactions anytime, anywhere, without having to carry physical cash
or cards.

Speed: Transactions can be processed quickly, often in real-time or near-real-time.

Security: Digital payment systems use encryption and other security measures to protect users'
sensitive data and prevent unauthorized access.

Flexibility: Digital payments enable a wide range of transaction types, from small purchases to large
financial transfers.

Digital Signature:

A digital signature is an encrypted, secure method of verifying the authenticity and integrity of a
document or message. It uses public key cryptography to create a unique code based on the content
of the document and the sender's private key. This code, called a hash, is then attached to the
document and sent along with it. The recipient can use the sender's public key to verify that the
hash matches the one generated from their own copy of the document, ensuring its originality and
preventing tampering.

Key aspects of digital signatures include:

Authentication: A digital signature proves the identity of the sender, confirming they created the
document and agree with its contents.

Integrity: By comparing hashes, recipients can ensure that the document hasn't been altered during
transmission.

Non-repudiation: Once signed, it's difficult for the sender to deny having created or agreed to the
document's contents.

Legal recognition: In many jurisdictions, digitally signed documents have legal standing equal to
handwritten signatures.