TulipTools Internet Business Owners and Online Sellers Community

Quote:Part 1: Analyzing the Security Issues

With all sort of attacks against e-banking and e-commerce systems targeting primarily customers, securing transactions has become increasingly difficult for banks and online stores.

There is a widespread use of credit and debit cards for shopping online...

Concern about stolen and misused credit card information is rising....

Adequately protecting credit card information is not only essential to guarantee secure e-commerce, but it also offers the possibility of extending the uses and services of cards, especially for e-banking purposes...

Quote:My proposal for optimizing credit card security can be summarized in a few words: Bring the benefits of Chip and Pin to the home and workplaces of customers. And basically this is how it works:...

For payments on e-commerce sites, a customer would need to follow either of these protocols:

Protocol 1
  1. Select items to purchase and review order
  2. Complete card and personal information on the site form as usual
  3. Accept and submit the payment
  4. Connect to the Bank/Card issuer server using the software, review the payments pending authorization and authorize the transaction using the smart card (i.e. digitally signing the transaction which includes information such as date, time, store information, customer information, card information and etcetera)

Protocol 2...