With the innovative changes that have occurred in daily life since the creation of the Internet, the banking sector is no exception. With the creation of value-added services through the Internet, such as online transactions and online banking, the traditional banking landscape has been transformed to new levels. Daily banking and similar financial transactions through the digital medium have positively affected the lives of many due to the benefits that come with it, such as the convenience of completing financial transactions at one's convenience. Banking institutions are often associated with high levels of trust in security and privacy. factors related to its physical environment. However, this perceived notion has yet to be associated with the digital realm in its full potential. With the lack of physical interaction received through a physical environment, this creates a unique environment where trust becomes a vital factor. For most users of online banking services, security and privacy concerns become of utmost importance, as well as a deciding factor regarding the use of such services (Turner et al. (2001)). Given these concerns, users' lack of uncertainty and trust in such conveniences creates an obstacle to the wide-scale adoption of internet banking and online transactions. Online banking transactions have unique characteristics such as the impersonal nature in relation to the online environment, the reliance on the use of technology, and the perception of uncertainty regarding the open infrastructure used for transactions. As a result of these unique characteristics, consumers tend to move towards using banking and financial services available online. The continued growth of the Internet has brought about the focus of paper-based services which impact the use of such services by consumers. Furthermore, these perceptions have a significant role in the future development of online banking and electronic payment services. The objective of this proposed paper is to identify and understand which factors influence user trust and perceived security in online banking and electronic payment providers. Works Cited1 . Lee, K. O., Turban, E. 2001. A trust model for consumer Internet shopping. International Journal of Electronic Commerce, 6(1): 75-912. Maijala, V. (2004). Perspectives of cybersecurity in e-business3. Suh, B., & Han, I. (2002). Effect of trust on customer acceptance of Internet banking. Electronic Commerce Research and Applications, 1, 247-263.4. Turner, C. W., Zavod, M., & Yurcik, W. (2001). Factors that influence the perception of security and privacy of e-commerce websites.