Security is in the Eye of the Beholder: Online "Trust" and Credit Card Processing
Contributed by Alix Mcmurray
Security is in the Eye of the Beholder: Online "Trust" and Credit Card Processing
Broadly defined, credit card processing has two types of end users -- merchants who accept credit card payments online, and buyers who are or who are about to become credit consumers. Internet transactions involving these two users require security measures to protect against identity fraud and theft through the seemingly innocuous act of processing a credit card for the intended purchase. The following is a general overview of key security issues affecting online purchases.
E-Business Is Booming -- Because of Credit Card Processing
As reported by the U.S. Department of Commerce, e-commerce sales in the first quarter of 2004 topped $15.5 billion, a 28 percent increase from the same quarter of 2003. Up to half of this total can be earned between Thanksgiving and Christmas in any given year.
When you visit a website which conducts online transactions, you usually see the logo of the company providing security ("trust") services for that merchant. For the processing of credit card transactions, the method currently considered state-of-the-art is Secure Socket Layer (SSL) technology. If a merchant wishes to purchase online transaction security for his or her website, a company touting SSL technology is the best choice within the HTTP transmission format.
Behind the Scenes of Credit Card Processing
There are several large companies now in the business of selling security services to online merchants. There are also a host of other, smaller, such "gateway" companies (not to be confused with the computer manufacturer). A short list of these major security companies includes but is not limited to: Verisign, Thawte, GeoTrust, Digicert,and GoDaddy. Some of them also offer web hosting packages along with encryption security services. Through their websites there are educational white papers available for free download, and free trial periods to sample their security service packages.
