Payment System and Issues in E-Commerce

PAPER ID: PT0018

PAPER TITLE: PAYMET SYSTEM AND ISSUES IN E-COMMERCE

AUTHOR CODE: AT0075

Author Name: Prof. Khyati V. Raiyani

Designation: Assistant Professor

Organization: N.R.Vekaria institute Of Business Management Studies –Junadagh

Email Id: raiyanikhyati7@gmail.com

Abstract

         E-commerce refers to exchanging of goods and services over the internet. E-commerce have strong influence in our life. e-commerce today covers an entire commercial scope online including delivering and servicing , paying for goods, online market selling and many more. 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 cheque , the main implement in growth of e-commerce is cyberfraud and identifying theft. poor security  on e-commerce web server and in users computer is core issue to be resolved for rapid growth of e-commerce. As the number of mobile users, digital applications and data networks increase, so do the opportunities for exploitation.

 The current study is to highlight issues in cyber security in e-commerce. The paper provide descriptive information regarding cyber security and direction for e-commerce security so as to improve customer confidence in e-commerce shopping.

Keywords :  E-commerce, cyber security, cyberfraud, e-commerce security etc.

Theme No and Name: THEME- 1 Payment  System and Issues.

INTRODUCTION

Governments, military, corporations, financial institutions, hospitals and other businesses collect, process and store a great deal of confidential information on computers and transmit that data across networks to other computers. With the growing volume and sophistication of cyber attacks, ongoing attention is required to protect sensitive business and personal information, as well as safeguard national security. While rapid technological developments have provided vast areas of new opportunity and potential sources of efficiency for organizations of all sizes, these new technologies have also brought unprecedented threats with them. Cyber security – defined as the protection of systems, networks and data in cyberspace – is a critical issue for all businesses. Cyber security will only become more important as more devices, ‘the internet of things’, become connected to the internet.

In order to achieve the security, it is necessary to recognize that the security of services and protection of the customers’’ data are essential. To this end, and specifically to support the current security model. It is necessary to have enterprise wide target customer security model. This should be designed to deliver enhancement to both customer facing and back office security capabilities, and in particular to improve existing security defenses for remote online and banking channels.

Cyber Security plays an important role in the development of information technology as well as Internet services. Our attention is usually drawn on “Cyber Security” when we hear about “Cyber Crimes”. Our first thought on “National Cyber Security” therefore starts on how good is our infrastructure for handling “Cyber Crimes”. This paper focus on cyber security emerging trends while adopting new technologies such as mobile computing, e-commerce, and social networking. The paper also describes the challenges due to lack of coordination between Security agencies and the Critical IT Infrastructure  we are also going to look at issues in cyber security in e-commerce and information regarding cyber security and direction for e-commerce security.

THE CONCEPT OF CYBER SECURITY

Over the past several years, experts and policy makers have expressed increasing concerns about

protecting E-commerce from cyberattacks—deliberate attempts by unauthorized persons to access

online systems usually with the goal of theft, disruption, damage, or other unlawful actions. Many

experts expect the number and severity of cyberattacks to increase over the next several years.1

The act of protecting E-commerce  and their contents has come to be known as cybersecurity. A

broad and arguably somewhat fuzzy concept, cybersecurity can be a useful term but tends to defy

precise definition. It usually refers to one or more of three things:

• A set of activities and other measures intended to protect—from attack, disruption, or other threats—computers, computer networks, related hardware and devices software, and the information they contain and communicate,  including software and data, as well as other elements of cyberspace.
• The state or quality of being protected from such threats.
• The broad field of endeavor aimed at implementing and improving those activities and quality.

OBJECTIVES

• Study The overview of E-commerce security
• Understand the purpose of security in E-commerce
• Third party Risk in online shopping
•  Study The Cyber Plan Action Items

RESEARCH METHODOLOGY

The research is an attempt of exploratory research, based on the secondary data sources from web, articles  general reports and Online and desk-based reviews of books, reports and articles

Looking into requirements of the objectives of the study the research design employed for the study is of descriptive type. Keeping in view of the set objectives. this research design was adopted to have greater accuracy and in depth analysis of the research analysis of the research study.

Available secondary data was extensively used for the study. The investigator procures the required data through secondary survey method. Different news articles, books and web were used which were enumerated and recorded.

 LITERATURE REVIEW

Existing review promulgates that individuals cyber security and legislations intersect with general security through internet authors have signally pointed out security framework for customer protection but it has not evaluated upon organization and also companies limitation. Even those, have refused to mention that court law sustain from knowledge to enact some proper laws prior to high vulnerability risk occur. From another point of view, despite that cryptography and encryption methods are the best to keep customer’s  information safe, but less authors have addressed updating server side issues to prevent bugs.

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