Online Security and Payment Systems: Review Questions

“Modern economies are highly dependent on information systems and networks connected to “cyberspace” a virtual world with a population of several billion and growing.”

Centers for Medicare and Medicaid Services (CMS) adopted the Medical Severity Diagnosis Related Groups (MS-DRGs) for use in the Inpatient Prospective Payment System (IPPS) in the fiscal year 2008, which ran from October 1, 2007 through September 30, 2008. CMS was influenced by the Medicare Payment Advisory Commission (MEDPAC) and the hospital community to use a severity adjusted DRG system.

“Many legal issues are related to e-commerce. When buyers and sellers do not know each other and cannot even see each other (they may even be in different countries), there is a chance of fraud and other crimes over the Internet. During the first few years of EC, the public witnessed many of these, ranging from the creation of a virtual bank that disappeared along with the investors’ deposits, to manipulation of stock prices on the Internet” (Turban et al., 2010).

New technology has spurred innovative ways to spend money. As mobile payment systems continually develop, consumer financial and personal information risk exposure. Industry officials state the technology is growing, but security specialists argue growth of will inevitably attract fraud. Smartphone owners must treat their phones as a miniature computer and equip proper anti-virus and malware software. Enacting preventative methods will help thwart security breaches over mobile networks. (Ladendorf, 2013)

The world is inhabited by people of unique personalities and traits. People notice one another’s physical appearances, talents, and habits, but their stories are unknown to the world’s prying eyes. A secure world never allows an individual to go out of their comfort zone. Only in times of trial will an individual grow and prosper. Such adversity develops and molds a person’s character, revealing obscure skills and dexterity.

The text "Out of Control", by Kevin Kelly, is an exciting description of the future as seen by the author, a journalist and optimistic technologist. The predictions presented must certainly be taken as entertaining reading that are intended to inspire visions of the future. The predictions of Kelly have already proven to be inaccurate in the four years since publication. The most glaring example of this is electronic commerce. Canada is quickly becoming a leader in electronic commerce, through online banking and direct payment purchases. The coming cashless society presents several opportunities and problems that were not previously available in the paper money world.

Many users are subject of Security and Privacy on the Internet issue. The term "information" now is more used when defining a special product or article of trade which could be bought, sold, exchanged, etc. Often the price of information is higher many times than the cost of the very computers and technologies where it is functioning. Naturally it raises the need of protecting information from unauthorized access, theft, destruction, and other crimes. However, many users do not realize that they risk their security and privacy online.

According to Berenson (2010), this payment model is considered to be the dominant payment model, with a representation of over 90% of primary care revenue. Although the use of this payment model has been problematic for primary care, many physicians who make use of the fee-for-service system have been greatly rewarded. The problems associated with fee-for-service are not only felt in the United States, but by doctors from around the globe. Such problems encountered by physicians have led to the reduction of quality care in the services provided. Compensation is based on the number and complexity of procedures the specialist performs.

Faults are a precise interaction of hardware and software that can be fixed given enough time.

The bottom-up approach lacks support from upper management. The top-down approach offers more upper management support with more funding plus clear planning.

If your software or application has an integrated billing solution then you 'll also need a payment gateway. Which is an online payment processing solution that allows you to link the client 's payment account with their application or software account. Allowing the client 's credit account details to be far more secure than if they would be if they were sent online.

E-Commerce enables online-to-offline (O2O) mode, which is ordering or purchasing online and delivering offline. Recently, there are more and more retail brands, including BestBuy, supporting multi-channel retail, which is offering in-store pick-up service for online purchasing. Not limited to the online retail, e-Commerce systems are also widespread for the services industry. All leading commercial banks provide their online banking entrance on both mobile devices and Internet. Such kind of entrance allows users to retrieve bank statements, issue transactions, pay bills, invest in stock market and get financial support online.

1. How can a security framework assist in the design and implementation of a security infrastructure?

Answer: Information Security is the practice of defending (guiding) information by considering the CIA Triad Principles which are Confidentiality (Authorize access), Integrity (Accuracy and Completeness) and Availability.

During the early 1960’s, E-Commerce businesses conducted electronic transactions via primitive computer networks” but the way these transactions were exchanged provided little to no security(34).This made online transactions on WWW(World Wide Web), not reliable and unsecured making consumers eager to not take the chance of risking their information, on an unprotected system. During the early 1960’s came “Electronic Data Interchange(EDI). EDI replaced traditional mailing and faxing of documents with a digital transfer of data from one computer to another”.(35)This was the first step toward the E-Commerce that is present today.Then the influential SSL protocol would come to be which helped to improve the state of security on the WWW. This led to more protocols being introduced, leading to other detrimental protocols such as (3D Secure, TLS, SET). These protocols, that were just mentioned are still widely used today. This paper will go over the threats and the solutions of E-Commerce security.