Third Party Payment Platforms Financial Risk : A Prevention Study

Speidel, R. E., Summers, R. S., & White, J. J. (1993). Sales and secured transactions: Teaching materials. St. Paul, Minn: West Pub.

Online commerce was introduced to consumers in the mid-1990’s, and in the years since, it has grown exponentially. It started out virtually nonexistent and has become a multi-billion dollar industry. Nearly every retail sector has entered online commerce; clothing, electronics, home, health and grooming items, even food and groceries are starting to gain traction online. Online commerce sites rival traditional brick and mortar stores such as Walmart and Target, as well as other big-box stores. As online retailers such as Amazon continue to expand, many brick and mortar stores have been making their way online, indicative of an increasing movement towards online commerce. With more than 80% of the online population having made an online

One of the biggest advantage of E-commerce is the skills for providing secure transaction through Internet,

People use interactive Web pages to obtain stock quotes, receive tax information from the Internal Revenue Service, make appointments with a hairdresser, consult a pregnancy planner to determine ovulation dates, conduct election polls, register for a conference, search for old friends, and the list goes on. It is only natural that the Web's functionality, popularity, and ubiquity have made it the seemingly ideal platform for conducting electronic commerce. People can now go online to buy CDs, clothing, concert tickets, and stocks. Several companies, such Digicash, Cybercash, and First Virtual, have sprung up to provide mechanisms for conducting business on the Web. The savings in cost and the convenience of shopping via the Web are incalculable. Whereas most successful computer systems result from careful, methodical planning, followed by hard work, the Web took on a life of its own from the very beginning. The introduction of a common protocol and a friendly graphical user interface was all that was needed to ignite the Internet explosion. The Web's virtues are extolled without end, but its rapid growth and universal adoption have not been without cost. In particular, security was added as an afterthought.

Technology has changed the way we do almost everything. That now includes how we purchase items. Bitcoin, a relatively is a new currency, was created in 2009 by a mysterious unknown person using the alias Satoshi Nakamoto. Bitcoin transactions are made with no intermediaries— meaning, no banks or transaction fees. Additionally, there is no need to give your real name, thus allowing you to make purchases without an electronic footprint . In addition, international payments are easy and cheaper because bitcoins are not tied to any country or subject to regulation. This case study aims to take a deeper dive into the advantages and disadvantages of accepting Bitcoins and the impact it can have on companies, specifically pertaining to the large online retailer Overstock.

Society has experienced several evolutions in diverse arenas during our brief existence on Earth. The human brain has devised tactics to locate animals for the benefit of clothing, shelter, and food. Humans established spoken and written language(s), created numeric systems, and via the advent of the internet, devised vectors for expansion of communication across the globe. In addition to global communication, the internet has transformed society by allowing people to express our creativity, dreams, and expand our knowledge. It has revolutionized how we entertain, trade stocks, date, and participate in government and commerce. The eruption of electronic commerce, or e-commerce, relies upon consumer trust in the e-commerce website, payment

Nowadays organizations online need to ensure their client's information. If not individual data along with credit card numbers can fall into the wrong hands and we know what will happen at that point. This is one of the issues with online retailers but another is when the retailers sell their client's information. If this is done, then the client will have an issue with who gets their personal information and can be annoyed by the organizations that get their data. Generally, third party organizations are the ones purchasing this data. This can be a scary issue because many individuals are purchasing item online and this increases the risk of their data being sold. The data can go to third parties or into the wrong hands and this is

Uphold ascribing a secure process to buy where deals online are with methods providing you cuts. Advance and settle online to get access of a wangle with price selection and methods of accomplishment. Attest having a secure purpose to win chances of progressing and make store base wants to trade.

Consumers also need to trust the firms they buy from. Online business is on the spotlight when it comes to trust. Many customers have been cheated while buying online. For instance a customer buys a given commodity, pays for it and the seller disappears. Business leaders intending to carry out e-commerce have a challenge in internet based business transactions. Consumers want to be confident that what they are buying will be delivered and they will not suffer from any misguidance or failure of delivery may it be now or in the future. Reliability is the key to online business.

Visa Inc. (VN) operates the world’s largest retail electronic payments network and manages the world’s most recognized global financial services brand. Visa has more branded credit and debit cards in circulation, more transactions and greater total volume than any of their competitors. They facilitate global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities. They provide financial institutions, their primary customers, with product platforms encompassing consumer credit, debit, prepaid and commercial payments. Visa Net, their secure, centralized, global processing platform, enables them to provide financial institutions and

Among the ubiquitous names on the internet, PayPal falls in that category. It has expanded tremendously over a given period and continues to grow. With the expansion of internet businesses and the amount of transactions that are performed via the World Wide Web, PayPal is considered to be a major solution that one should not overlook when it comes to payment transactions (Balderas, 2011). A merger between Palm Pilot payment systems and X.com, PayPal was born in 1998 and has been making headlines ever since. PayPal has risen to a meteorically massive position by performing online payments. One thing that makes PayPal successful is because consumers and businesses continue to need the services. PayPal holds more than a hundred million active

I examine the evolution of credit card fraud in regards of the technology or methodology fraudsters used specifically within the e-commerce industry, and discuss various security concerns companies have for establishing online shopping sites. The appearance of credit cards and the growing e-commerce industry in the past decade has provided fraudsters more ways to commit fraud through online activities than ever. Numerous underground activities existed to provide conveniences for fraudsters to buy and sell credit card information at low prices in order to perform fraud in many different ways. With the frequent data breaches in the retailing industry lately, many security concerns in establishing online shopping sites have emerged.

The buyers and sellers must trust the e-commerce’s computing environment and the infrastructure. If they do not feel comfortable or trust security of the infrastructure he or she will not buy the product he or she was looking to buy (Turban, King, McKay, Marshall, Lee, & Viehland, 2008). There are two ways to increase trust in e-commerce the following are: 1.) Affiliate with an objective third party. This builds trust by putting hypertext links on their website to other trusted reputable companies. 2.) Establish trustworthiness through these key elements integrity, competence, and security (Turban, King, McKay, Marshall, Lee, & Viehland, 2008).

The continuous development of Internet leads to the growth of e-commerce. The electronic commerce is growing constantly due to the continuously increasing number of mobile and online users in the market, primarily the emerging markets. Besides that, the development of the Information Technology (IT), such as the advance of paying processes and the improvements of shipping method also the main reason to cause the growth of electronic commerce (John Ingham, 2015). Most consumers accept e-commerce as their feasible alternative in the purchase of goods and

Founded just before the turn of the millennium in Hangzhou, China, Alibaba Group has to date become the largest online retail website worldwide in the planet, its total transactions surpassing the sum of both Amazon and eBay’s (Erickson, 2013). The report explains its business and operation model and market strategy, before moving to explore the reasons for Alibaba Group’s success such as its established market share in the large market of Mainland China and its efforts to promote the perception of the reliability and security of e-commerce. Comprising of its future plans in logistics improvement, expansion into developing nations, integration with social networks, venture into mobile