Electronic Commerce Security and Electronic Payment

Electronic Commerce Security refers to the principles that guides safe

electronic transaction allowing the buying and selling of goods and services
through internet, with protocols in place to provide safety.
www.cardinalcommerce.com

Successful online business revolves from trust between the buyer and seller
if their transaction is safe or not. These are the types of Electronic
Commerce Security that are commonly used by online stores.

1. Privacy – One of the basic security in e-commerce. Which means not

sharing information to unauthorized parties. It is given that when you
shop online your information must be within the buyer and the seller.
Any disclosure of personal information would be a breach of
confidentiality and is punishable by law.
2. Integrity – It means that no information should be altered in any way.
What the customer information entered should be as is. Any tampering
of information is breaking the confidence of the buyer and integrity of
the company.
3. Authentication – for an e-commerce takes place both buyer and
seller should be real who they are. A business should be real and the
products should be what it is described in the store. As we say trust is
the one that makes online business successful the both parties should
trust each other.

Electronic Commerce Threats – these are anyone with the

capability to do harm in the business. Threats can be anywhere, it could be
internal, external or single rouge element.

1. Intellectual Property Threats – use of existing materials found in

the internet without permission.
Countermeasure: Legislature and Authentication
2. Client Computer Threats – Trojan horses, active contents and
viruses
Countermeasure: Privacy, cookies, digital certificate, antivirus
software and others.
3. Communication Channel Threats – Sniffer program, backdoor,
spoofing, denial-of-service.
 Countermeasure: Encryption, protocol, digital signature.
4. Server Threats – Privilege settings, file transfer, spamming.
Countermeasure: Access control and authentication and firewall.

Electronic Payment System a medium of payment between remote

buyers and sellers in cyberspace: electronic cash, software wallets, smart
cards, debit/credit cards. www.uky.edu

Electronic Payment Method

1. Credit Payment System

a. Credit Card- it requires the use of card issued by financial
institutes to the cardholder for making payments online.
b. E-wallet – a form of prepaid account that stores user’s financial
data.
c. Smart Card - also known as chip card that can be loaded with
funds to make transaction.
2. Cash Payment Method
a. Debit Card- the holder instruct the bank to collect a specific
amount of money to his accounts electronically to pay for good and
services.
b. E-cash- where a certain amount of money is stored to a client
device and made accessible online transactions.