Online payment and security of e commerce information technology essay

E-commerce have strong influence in our life. Electronic payment system is a mode of payments over an electronic network such as the internet. In other words we can say that e-payment is a method in which a person can make Online Payments for his purchase of goods and services without physical transfer of cash and chequethe main implement in growth of e-commerce is cyberfraud and identifying theft. As the number of mobile users, digital applications and data networks increase, so do the opportunities for exploitation.

Online payment and security of e commerce information technology essay

As we all know, the Internet has changed drastically and has affected the entire world in numerous ways.

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Using the Internet as part of our everyday lives has become habitual and even a necessity. Sometimes we do not even think about what information we reveal about oneself on the Internet.

Since the Internet is not regulated, it produces a large range of consequences and threats to the systems operating on it. Many of us use it to buy and sell goods and services over the World Wide Web.

We order a piece of clothing or even buy and sell stocks.

Online payment and security of e commerce information technology essay

This is known as e-commerce and typically requires a payment processing system. Many applications of e-commerce are influencing trends and expectations for business over the Internet, including tailing, banking, online retailing, and online publishing.

It has definitely exploded in the last ten years. It does have its advantages in that it presents open and simple communications on a universal basis. Making use of networks for on-line purchases and various transactions forms just a fraction of the development in global electronic commerce e-commercewhich is truly an extensive use of information technologies by government and business.

However, the public does remain cautious about security, privacy, and access costs. Therefore, the topics on this paper consist of business and consumer security issues. Consumers have accepted the e-commerce business model less readily than its proponents originally expected.

Even in product categories suitable for e-commerce, electronic shopping has developed only slowly. Several reasons might account for the slow uptake, including: Many people will not use credit cards over the Internet due to concerns about theft and credit card fraud.

Much of a consumer's reward for purchasing a product lies in the instant gratification of using and displaying that product. This reward does not exist when one's purchase does not arrive for days or weeks. Low penetration rates of Internet access in some sectors greatly reduces the potential for e-commerce.Of course, when making an online payment, the buyer manually enters card information, so the chip appears to have no benefit.

However, EMV still provides an indirect security benefit for online payments. One of the main challenges is maintaining online security and ensuring that there is no identity theft.

As more people engage in e-commerce activities, fraudsters and hackers seek to capitalize on security loopholes to steal identity and use information without authorization.

E-COMMERCE. Concepts and reasons for the spread of E-commerce Concept of E-commerce. Electronic commerce, commonly known as e-commerce or eCommerce, is a type of industry where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks.

Literature review: Online security in e-commerce The objective of this document is to discuss the issue of online security on e-commerce. The main focus will be on the holes found in online information sharing and security.

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Security Issues Concerned With E Commerce Information Technology Essay. Print Reference this. Disclaimer: Of course, the recent online payment system is cost effective but, can’t provide employment in the transportation system like traditional payment method.

In the e-commerce security, some of the issues to be . As mobile technology is growing, so is the payment technology, which now enables end-to-end payment processing in context of associated business (sales) transactions, making it possible to conduct an entire business transaction along with associated end-to-end payment processing, over the mobile channels, offering enormous flexibility to.

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