Article Review 2

Getting Customers to Plunk Down Their Credit Card
by Dr. Ralph F. Wilson

http://www.articles911.com/Technology/E_Commerce/more2.html

In the world today where privacy seems to be invaded, the awareness of people of securing their personal information is risen. Personal information can refers to a lot of data- number of siblings, location phone number etc. However, the few mentioned earlier are of the less important. Generally, people are more concerned about their financial statistics. Their credit card number, bank account balance and the property they owned. This concern has been blown up such that it might affect the success of online retailers.
Truly, the internet has exposed us to a whole new reign of information and data. At the same time, we are divulging our personal information to the websites when we surf through them. This definitely sounds scary especially when we imagine of the consequences if some crooks used our credit card number for illegal dealings. Hence, there is a need to provide online shoppers with the assurance that their personal information is kept confidential.
As a result, 3 factors have been created which makes online shopping more attractive and safe. These 3 factors are SSL(Secure Sockets Layer)security, Virtual Wallets and Visa and MasterCard.

SSL(Secure Sockets Layer)security
When a person using Netscape or Microsoft Internet Explorer browser connects with a Web site which is running an SSL Secure Server, all the information transmitted by the customer is scrambled and encrypted.

Virtual Wallets
A customer sets up an account with just a single Internet company -- for example, CyberCash -- and gives them the credit information. CyberCash, then, confirms to merchants who are set up with this system that the customer indeed has credit. The merchant accepts the CyberCash, and the sale is made

Visa and Credit Card
The main credit card companies, supported by a number of on-line software giants, are now coming up with Secure Electronic Transaction (SET) for the Internet. When these are released you need to make sure your shopping cart program will support them. They will allow your credit card number to be encrypted so that no one can read it -- not you nor a merchant. Only the bank or merchant's credit card service will have the decryption code.

The factors described will indeed clinch more deals for online retailers. However, if these factors are more standardized, I believe then the online shopping market would grow even rapidly.