There has been a great deal of excitement in the media over the significant commercial potential of the internet. Many commercial enterprises are viewing the internet as a significant element of their business operations. They see it as a means of advertising, selling and supporting their product globally.However, there are certain critical area such as security that if not adequately addressed could cause the usefulness of the internet to erode rapidly. Brian Hurley & Peter Birkwood in Doing Business on the Internet said that there are three main areas of security relevant to the internet business:Fradulent use of credit card information related to on-line financial transactions, General site and security and Information security. Some companies claimed that they offer their customers a secure gateway that cannot be access by hackers.
The purpose of this paper is to discuss the issue of secure payment. In so doing, I will explore how secure is secure.
Commerce on the internet consists mainly of passing credit card numbers and expiry date information electronically between the merchant and the customers. When commerce is conducted over the internet, a network is open to milions of potentially prying eyes. Moreover, there is no one to verify the validity of the credit card. To ensure that the person using the card is actually the card holder. The buyer might have exceeded the limit or can be using a stolen card. Likewise, the buyer has no assurance that the vendor on the other end is who he/she claim to be. Richard E. Smith in Internet cryptography says that data travels from one computer to another leaving the safety of its protected surroundings.
Once the data is out of the sender's hand it can fall into the hands of people with bad intention. they could modify the data for...