The Security payment in E- commerce Essay Example | Topics and Well Written Essays - 2000 words

The Security payment in E- commerce - Essay lawsuitInternet can be considered as one of the most revolutionary inventions of the last century 2. It is utilisation by different people for different reasons some people use it to communicate with the other decease of the world, some use it to increase their knowledge with the vast information available online 1. Another atomic number 18a that has make a prominent name in the World Wide Web is E-commerce. E-commerce, which is the process of line of products proceedings on the web is preferred for its simplicity and ease 3. However, one of the factors that cause a great course of concern for customers and merchants is the level of security involved with these business proceeding 4, 15. The mode of payment in e-commerce minutes is through credit cards which have established more opportunities for businessmen but at the like time introduced new problems in the whole process of selling goods.The fear of fraud in online business tran sactions keeps on increasing every year due to the increase in the respective disgust 8, 39, 40. According to National Consumers League statistics for the year 2007 millions of dollars were lost in e-shopping transactions and have exposed the flunk of the credit card payment system 5. Credit card fraud and identity theft 11 are the two most prevalent security risks.In the past, many efforts have been done to secure online transactions and make this medium a trusting one. During such efforts, the protocol of Secure Electronic Transactions (SET) was demonstrable to secure credit card information from several kinds of attacks present online 6. Secure Socket Layer (SSL) also helps in providing a secure environment as it provides an encrypted medium to transfer credit card information 7. The use of biometric has also been proposed by one of the researchers this proved helpful to prevent identity theft and any bogus authorization regarding the credit card information. Numerous aspects have to be considered