E-commerce Security and Payment Systems

The payment system in Ecommerce platforms enhance the online transaction system with the electronic payment system. The technology has gained momentum due to the increased use of internet based services such as internet banking and shopping. There are several methods on online payments that can be used in ecommerce...

WEEK 4
E-COMMERCE SECURITY AND PAYMENT SYSTEMS
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The payment system in Ecommerce platforms enhance the online transaction system
with the electronic payment system. The technology has gained momentum due to the
increased use of internet based services such as internet banking and shopping. There are
several methods on online payments that can be used in ecommerce. These can range from
Bank payments, credit card transactions, money transfer services ti Google wallet and even
crypto currencies. The payment system of the ecommerce sites has an impact on the
customer’s experience. For performing a seamless customer experience, the platform needs to
support a proper payment and security system (Laudon & Traver, 2013). The customers who
visit the platform comes with the aim of finding a good deal on services and products. The
payment and security system that is used in the ecommerce platform should instil faith in the
customers who make the online purchases.
Information about the security issues, fraud protection, client data retention and
secure payment transfer are all transferred through the payment security system that are
utilized by the particular ecommerce platform. The security and payment systems depend
form one ecommerce platform to the other. Due to the ease of availability, more and more
consumers are opting for ecommerce platforms to conduct their inline payment. Though the
online payments are carried out with a lot of security precautions, there are certain challenges
that need to be addressed before implying the ecommerce platform as a tamperproof solution
from security issues. As the online payments do not require the presence of a card, they are
lot more viable to be hacked due to their personal information and the credit card numbers.
The payment system in the ecommerce platform should involve an extra procedure that
verifies with the user with the help of a technology called fraud scrubbing. Another issue that
arises is chargebacks (Niranjanamurthy & Chahar, 2013). This occurs when the supplier
charges more price than they would charge a consumer. This situation is elevated when the
transaction is carried out by a fraudulent person and purchase is refunded by the bank which

causes major damage to the business. This results in higher processing fees for other
consumers. The ecommerce security should alwaysb include dimensions of integrity, union
repudiation, authenticity, confidentiality, privacy and availability. The threats due to the lack
of ecommerce security issues can be domestic or foreign issues, single rogue element, state
sponsored or internal as well as external (Kou, 2013). Many disgruntled employees as well as
hackers can attack the security system of the ecommerce site to cripple it for a while. State of
the art security needs to be put in the commerce platforms to maintain enhanced security for
retaining the client base. PCI-DSS Level 1 compliance, SHA-256 SSL data encryption and
fraud scrubbing can enhance the security system of the transaction allowing people to share
their information confidentially and safely (Niranjanamurthy et al. 2014). To conclude,
modern customers expect that they can conduct their ecommerce transactions safely in a click
of a button. Ecommerce sites need to strive hard to provide these customers with proper
security and payment systems to retain their customer base and organization sustainability in
the long run.

References
Kou, W. (Ed.). (2013). Payment technologies for e-commerce. Springer Science & Business
Media.
Laudon, K. C., & Traver, C. G. (2013). E-commerce. Pearson.
Niranjanamurthy, M., & Chahar, D. D. (2013). The study of e-commerce security issues and
solutions. International Journal of Advanced Research in Computer and
Communication Engineering, 2(7).
Niranjanamurthy, M., Kavyashree, N., Jagannath, S., & Chahar, D. (2013). Analysis of e-
commerce and m-commerce: advantages, limitations and security issues. International
Journal of Advanced Research in Computer and Communication Engineering, 2(6).