Data Encryption in Financial transactions Data Encryption has become an important technology of modern financial security for protecting sensitive information. This article provides an analysis of encryption technologies in financial transactions across payment systems. Recent searches tell that encryption has reduced the risks, but there are some difficulties that we will face in the future.

Abstract

The rapid digitization of financial services has also fundamentally transformed, increasing security risks. Every day, trillions dollors transaction is done, also having sensitive information such as credential information, Identification and personal data. Simultaneously, cyberattacks are also increasing, targeting mobile banking to interbank settlements. From 2025 to 2030 stated that there will 56 USD billion-dollar breach. But emerging technologies such as zero-knowledge proofs (ZKPs) , Multiparty computation ( MPC), and Homomorphic encryption are enabling new privacy-preserving capabilities that were previously impossible.