The main agenda behind conducting this research work is about identifying the extent of the the extent for the payment card frauds that affect the UK users. In the previous chapter, the data tests as well as the interpretations are perfumed by making use of the Version 22 of SPSS (Statistical Package for the Social Sciences). The current chapter is about the conclusion as well as the suggestions & the recommendations for the current study topic. By effectively using these suggestions and the recommendations, the future researchers can better improve their research work.

Summary of the results of payment card fraud affect the UK users

Payment cards, in the modern world, have not only gained popularity but have also become the essential methods for online and in-person purchases. Because of the fame of payment cards, the market for debit and credit cards is expanding in a consistent manner. With their usage, number of attacks on them has also increased. The same can be said about the UK as well. With the expansion of payment cards, the amount of fraud associated with them has also been increased.

The primary research objectives are about making the investigations for the concerns as given: to investigate the association of the security issues with the Payment card frauds in UK, to investigate the relationship of the lack of knowledge with the Payment card frauds in UK, to enquire the association of technical issues with the Payment card frauds in UK and to investigate the overall impact of security issues, lack of knowledge and technical issues on the Payment card frauds in UK.

The research questions are similar to the research objectives. These include the examination about as given: to enquire whether the security issues have association with the Payment card frauds in UK, lack of knowledge have an association with the Payment card frauds in UK or the technical issues have the association with the Payment card frauds in UK.

The data for the current research work is gathered by using the questionnaire as well as the previous research work (for the purpose of the secondary data collection). For the said purpose, sample size of 240 respondents is considered from whom the questionnaire are being filled. The response rate is 85% for the said work. The association of the study variables is determined by using the correlation analysis and the regression analysis. The results of correlation analysis determine that the study independent variables (i.e., Security issues, Lack of knowledge, and Technical issues) are positively significantly correlated with the study dependent variable (payment card frauds).

Suggestions and Recommendations of payment card fraud affect the UK users

It is as mandatory to have the detailed information about making use of the payment cards as is the need for the usage of the payment cards in current era. It is recommended to make the security of these systems more strict and tight. So may it can help to avoid the hacker’s attacks. In the UK, the users should be provided with the training related to the effective use of the payment systems so may the fraudulent activities can better be detected and avoided. The banking systems and the software need to be upgraded to the level whereby they can meet all the security requirements of the users. All the technical issues related to such systems need to tackled by formulating effective plans as well as the strategies. It will definitely help the users to get more effective & efficient services.

 Research Implications of payment card fraud affect the UK users

Just like any other research work, this study is also aimed at contributing significantly to both the existing literature and the ones who intend to seek the guidance (based on its results) from the current work. It can be said that the current research work tends to provide both the theoretical as well as practical implications. The theoretical implications are about literature work and the practical implications for the management of UK banks.

Theoretical implications of payment card fraud affect the UK users

     This study is conducted specifically in the context of UK. The model being used is related to the payment card frauds in UK. For any future research work, this model is can better provide the basis to the future researchers. The complete model or any part of the theoretical model of the current research work can be used for future research work.

5.4.2 Practical implications of payment card fraud affect the UK users

If we talk about the practical implications of this study then it can help the management of the UK banks to formulate the effective strategies for avoiding the payment card frauds. The user’s experience, for making use of the payment cards, can better be improved by the formulation of the effective strategies by the management of the UK banks.

Conclusion of payment card fraud affect the UK users

For the current study, the model which is used is different from already existing models. The researcher of the current study found that the variables of the present study are positively significantly correlated. In UK, the banks, that can provide the proper training to the customers for making use of the payment cards, may include Barclays, Santander, Lloyds Bank, HSBC and Metro bank etc.

The present research work and its findings tend to contribute significantly to the existing literature. The model being used for the existing research work can better provide the basis to the future research work. The findings of the current study tend to help the management of the UK banks to formulate the effective strategies for avoiding the payment card frauds. These strategies can help the management of the UK banks to improve the user’s experience for making use of the payment cards.

The main research objectives of the current research work can better be achieved by following the suggestions and recommendations. These are all about providing the system security along with the user’s training by arranging the training sessions by the banks of the UK. The more the system is provided the security from the fraudulent activities, the more it becomes secure to use. The ultimate effect will be the increased customer count and the organizational profitability.

References of  payment card fraud affect the UK users

Accountants, C. I. o. M., 2018. Fraud risk management. ResearhGate, pp. 1-48.

Actionfraud, 2019. Store card fraud. [Online]
Available at: https://www.actionfraud.police.uk/a-z-of-fraud/store-card-fraud

Auditors, I., 2017. Managing the business risk of fraud. Science Direct, pp. 1-79.

Businessinsider, 2019. There's a good chance you're a victim of credit card scams and you don't even know it — here's what to do. [Online]
Available at: https://www.businessinsider.com/credit-card-fraud-scam-what-to-do-2018-8

Chaudhary, K., Yadav, J. & Mallick, B., 2012. A review of fraud detection techniques: Credit card. International Journal of Computer Applications, 45(1), pp. 39-44.

Chaudhary, K., Yadav, J. & Mallick, B., 2012. A review of fraud detection techniques: Credit card. International Journal of Computer Applications, 45(1), pp. 39-44.

Chlotia, P. G. M. N., 2011. A longitudinal analysis of data breaches. Information management and comupter security, 19(4), pp. 216-230.

Consumerprotect, 2019. 11 Common types of credit card frauds and scams. [Online]
Available at: https://www.consumerprotect.com/crime-fraud/11-types-of-credit-card-fraud-scams/

Darmawan, S., 2017. THE IMPLEMENTATION OF SKIMMING TECHNIQUE TOWARDS STUDENTS’ READING COMPREHENSION. ResearchGate, Volume 5, pp. 2089-3345.

Finance, U., 2019. Fraud the facts 2019. Science Direct, pp. 1-53.

Fu, K., Cheng, D., Tu, Y. & Zhang, L., 2016. Credit card fraud detection using convolutional neural networks. International Conference on Neural Information Processing, pp. 483-490.

Husser, A. p., 2017. Correlation analysis. Willey Online Library, pp. 1-5.

Jha, S., Guillen, M. & Westland, J. C., 2012. Employing transaction aggregation strategy to detect credit card fraud. Expert systems with applications, 39(16), pp. 12650-12657.

Kleinbaum, D. M. K., 2010. Logistic Regression. Science Direct, pp. 1-7.

Moneyadviceservice, 2019. What is credit card fraud and how can I prevent it. [Online]
Available at: https://www.moneyadviceservice.org.uk/blog/what-is-credit-card-fraud-how-prevent-it

Nga, J. K., Yong, L. H. & Sellappan, R., 2011. The influence of image consciousness, materialism and compulsive spending on credit card usage intentions among youth. Young Consumers, 12(3), pp. 243-253.

Nunnallly, J., 1978. Psychometric theory.New York:McGraw-Hill.

Patidar, R. & Sharma, L., 2011. Credit card fraud detection using neural network. International Journal of Soft Computing and Engineering (IJSCE), 1(32-38).

Paymentscardsandmobile, 2019. Fraud Report: losses on UK-issued cards totalled £671.4 million in 2018. [Online]
Available at: https://www.paymentscardsandmobile.com/uk-fraud-report-2019/

Raj, S. B. E. & Portia, A. A., 2011. Analysis on credit card fraud detection methods. 2011 International Conference on Computer, Communication and Electrical Technology (ICCCET), pp. 152-156.

Tej Paul Bhatla, V. P. &. A. D., 2010. Understandign Credit Card Frauds. Science Direct, pp. 1-15.

Wright, B. D., 2014. Pie Chart. Science Direct, pp. 1-10.