The paper “ E-Banking and E-Commerce Security Issues and Solutions ” is a delightful example of coursework on information technology. There increase in dependence on computer networks and the internet to access make payments for goods and services. Online transactions normally take place based on trust between the consumer and online vendors. Trust is the confidence buyers have in online vendors in terms of reliability and integrity, which is associated with consistency, competency, honesty, fairness, responsibility helpful, and benevolence . Some of the ways in which transaction takes place are through online payments.
Therefore, its security issues are the center of focus. There are two basic patterns of online payments, one is a bank for business payment also known as online payment and the other is the third payment platform. The online payment security issues include leakage of information, transaction, fraud, network systems risk among others . Recently, privacy and security are the most important concerns for electronic technologies . The internet has provided a means of communication between customers and various companies or online vendors. In many instances, people are seen engaging in online shopping, e-banking, and e-commerce.
This means a lot of vital information travels over the internet this has caused major concerns over the security of the transaction as well as concerns over the protection of individuals’ privacy. Information about online users that are normally collected during online transactions is categorized into (1) anonymous data, which include browser type and the computer’s IP address. (2) non-identifying person information, these are information, which does not identify the person. What is captured includes information regarding age, gender, education level among others, and (3) the third category of information collected is that vital information can be used to identify someone.
This information includes addresses either postal or email address, telephone number, and credit card number . SECURITY FEATURE ON ONLINE TRANSACTIONSecurity features do not necessarily assure or guarantee a secure system but they are put in place or rather use to determine and design a secure system security features are categorized as, authentication and authentication, which is the verification who the persons using the system say they really are. Through authentication, authorization is only allowed on the basis of the validity of information held.
Then there is encryption, auditing, integrity availability, and non-repudiation . SECURITY PROTOCOLSThere are different protocols that are used to secure online transactions, secure Sockets Layer (SSL), SSL as a security protocol offers security and protection to the communication between any SSL enabled clients and server software that is running on a network. This is possible but the addition of a layer between the network transport protocol and the application data. In SSL, data is encrypted before transmission and decrypted before being used by the receiving system.
SSL works together with a digital certificate and a combination of both public and private keys to provide privacy in communication . Secure electronic transaction protocol. The secure electronic transaction is a mechanism that helps to achieve secure payment using card transactions over open networks. VISA and MASTERCARD jointly developed the sets of protocols that operate at the application layer. It aims at achieving, secure, cost-effective online transactions intended to satisfy the market demand.
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