FREE online courses on ECOMMERCE FUNDAMENTALS - Electronic Payment Systems - Security

Electronic credit card transactions must:

 

·         Provide a mechanism to validate the identity of the merchant's bank, the merchant and the consumer. A fraud can result from whichever party is not sufficiently authenticated. X.509 certificates may be sent with each message to authenticate the sender and to provide the sender's public key.

·         Protect the private key of the certificate authority (CA). Theft or loss of the CA's private key can cause significant damage.

 

·         Protect the credit card number, the expiration date, PIN, the amount of purchase and other sensitive information during transmission over the Net.

 

·         Institute a process to resolve credit card payment disputes between the consumer, the merchant and the bank.