The move towards e-commerce is happening at a rapid rate. If implemented correctly and securely, it can be an effective means to increase revenues while reducing overheads. However, e-commerce relies heavily on the transfer of information between businesses and consumers, who have to be able to trust that information. Customers must be confident that the information they submit, such as credit card details and financial information, remains secure.
Any organisation that is serious about e-commerce needs to implement a comprehensive e-commerce trust infrastructure. By using Public Key Infrastructure (PKI) cryptography and digital signature technology, an organisation is assured secure authentication, data integrity and privacy - all vital requirements for a successful e-commerce endeavour.
There can be little doubt that a secure e-commerce Web site provides many competitive advantages, including increased online sales and streamlined business processes. In addition, conducting business over the Internet offers organisations a set of benefits inaccessible to traditional businesses:
* 24 x 7 access to new customers. Any person with an Internet connection has the potential to become part of your client base.
* Lower shipping and overhead costs associated with order fulfilment. Many products and services can be distributed directly to the client via the Web, resulting in a cost-effective delivery channel and an enhanced customer experience.
* Streamlined processes. Processing information through a secure Web site eliminates the traditional `paper chase`, reduces application times and again, improves the customer experience.
* Opportunities for targeted marketing. An e-commerce Web site can be used to gather intimate customer data, such as buying habits and preferences. This information can then form the basis of strategic focused marketing campaigns.
However, just as e-commerce comes with its own unique set of benefits, so too does it have its own set of risks:
* Spoofing - The low cost of Web site creation and ease of replicating existing pages makes it all too easy to create illegitimate sites that appear to be published by established organisations.
* Unauthorised disclosure - When transaction information is transmitted via unsecured sites, hackers are able to intercept the transmissions to obtain sensitive information.
* Unauthorised action - A Web site can be altered so that it refuses access to potential clients or even malfunctions.
* Data alteration - The content of a transaction can be intercepted and altered en route, either maliciously or accidentally.
* Eavesdropping - Unprotected transactions can be intercepted while in transit over the Internet.
Businesses need to be fully aware of the Internet security risks associated with running an e-commerce site. A lack of security creates distrust among Web customers and these concerns must be visibly addressed before customers will feel as secure in the digital commerce world as they do in the physical one. The four fundamentals of an e-commerce trust infrastructure should be adhered to: authentication, confidentiality, data integrity and non-repudiation.
To achieve this, customers must be able to assure themselves that they are dealing with a genuine e-commerce site, and not a `spoof` site (authentication). They must believe that sensitive information will be kept private (confidentiality) and that the transactions are protected from third-party interference during transmission (data integrity). Finally, it should not be possible for a customer to later claim that they did not conduct the transaction (non-repudiation).
Solutions and technologies are readily available to fulfil the above criteria. Through encryption, digital certificates for Web servers provide authentication, confidentiality and data integrity while a secure online payment management system allows for trust in the financial leg of the transaction.
By implementing the technologies behind a secure trust infrastructure, and ensuring customers and business partners have complete confidence in the security of an e-commerce site, a business will be able to take full advantage of the opportunities presented by the Internet.
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