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Privacy and Security in E-Commerce - Assignment Example

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This essay discusses that security of credit card information and personal information of customers has become a great concern to participants of e-commerce business. Increased number of customers begins to fear for the threat of losing money when making purchases and payments online…
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Privacy and Security in E-Commerce
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Privacy and Security in E-Commerce

Download file to see previous pages... An overly secure environment looks into the security of the transaction by creating passwords and logins in order to ensure privacy and confidentiality of the details of the transactions. In cases where e-commerce involves financial transactions, the risk of loss of money becomes high hence making security issues key to e-commerce. However, both open and overly secure environments have both advantages and disadvantages. There are various advantages of conducting business in open environments. First, users will not require login and passwords in order to navigate on the websites. Paying for items or making orders will not require one to give login for identification purposes. This makes the process easy and faster compared to a secure environment where login is required. The graphical user interface of open environments is simpler and easy to use hence cause customer satisfaction and convenience (Becker, 2008). Cost advantage also arises in an open environment. There is no cost involved in developing a secure environment thereby reducing the need to engage experts in developing the site. The costs of hosting such a website are also lower compared to that of an over security environment which requires shrewd experts to develop. However, the cost may arise where customers sue the business for protection purposes. On the other hand, browsing in an insecure open environment is characterized by various drawbacks. To begin with, the computers can be hacked thus infringing on private information. This may make the future transactions insecure and further cause loss of resources. Moreover, it would be easier to get computer virus attacks, which could stall operations and further cause loss of data that may be expensive to acquire. In addition, a company can be faced with innumerable cases from customers for violation of privacy. Because of the multiple suits, the company risks spending colossal amounts in compensating the customers. In instances that the transactions involve payment of money or transfers of money, open environments are inappropriate because unauthorized third parties might access the customers’ private information. There are cases in which customers have been defrauded money hence causing panic and financial losses to the parties. If this happens, the customers’ confidence and trust are lost hence making open environments riskier and disadvantageous. Similar to an open environment, an overly secure environment also has several advantages and drawbacks. On the side of the advantages, overly secure environment makes customers feel secure therefore promoting online sales. The high number of sales increases the revenues and reduces transaction cost associated with physical transactions. The businesses in ensuring security further achieve their fiduciary obligations of making their customers secure and hence get shielded from legal cases that may arise. A feeling of security encourages repeat purchases. Secondly, overly secure environment ensures that the business information is protected from hackers and crackers. When online purchases are made in an open environment, the business equipment and information will remain confidential from being stolen.  ...Download file to see next pagesRead More
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I didn’t know how to start my research paper. "Privacy and Security in E-Commerce" helped me out a lot! Especially the list of closing part was valuable.
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