E-business has changed the way business is done nowadays. Some of the benefits of e-business are huge profit margin and better competitive advantage over other firms. The report written below will concentrate on the factors that improve the e-business security in the context of trust and confidentiality of the customer. One of the ways of appealing and retaining customers is the improved security of their information which they use to transact business. The report will closely analyze the various avenues that enterprises are exploring or have explored to ensure security of online transactions and to promote trust among consumers and what technologies are being used and being proposed. Personal information may be comprised if companies don’t have proper protocol for safeguarding consumer information. Some of the common errors companies make will be explored and critiqued. E-commerce companies should put measures that will help them control accessibility of their information over the internet all this measures will be discussed in the following report.
History of e-business
Electronic commerce can trace its way back to Herman Hollerith, the American statiscian who developed mechanical calculators to help conduct the 1890 census and in 1897(Christos J.P.M; Hilary .W. P; et al, 2005) Improvement of networking plus computing have facilitated the growth of e-commerce it all started in 1960when companies used computers for sharing data between there respective companies, by then the computers were very primitive. Companies had different format of sending data but in 1979 ascx12 (a universal) came out; it was designed by American national standard institute. In 1982 the transmission control protocol and internet protocol (TCP/IP) was developed. Transfer of messages was done through networks such as BITNET and USENET .In the mid 80s personal computer users used CompuServe to share information, emails and chat rooms then they developed an additional service called the electronic mall, where items were bought directly from 110 authorized merchant, this was the first e-business transaction In the 1990 Tim burners lee proposed using a the world wide web following a removal of a ban on ecommerce, e-commerce started. Online shopping or e-commerce is defined as a form of trading where a buyer buys goods or services from a seller through the internet (Kurtz, D. L., & Boone, L. E. 2011). Some examples of big companies that do this kind of business are amazon.com or eBay where you can purchase almost anything from furniture’s to hose hold goods. According to research by Forrester research, closely to $204 billion were transacted in e-commerce in 2008, this method is different from the conventional one where you physically buy goods by going to a shopping mall and buying good directly from the sales person. Nowdays online shopping has gained a lot of popularity yet there are others who worry a lot the safety of their credit card information. Owing to the fact that online shopping is the future of shopping there is a need to integrate security measures in order to safeguard customers trust and increase profit. Some of the security issues range from loss of credit card information or your information being given to other people by hackers. Apart from security threat online shopping keeps on gaining popularity owing to the immense benefits (Carroll, J., & Deakin University. 1999). that we shall briefly discuss below Benefits of online shopping
1. convenience-online shopping allows someone to shop anytime whenever he wants at his time and from any place. Unlike physical shopping where you have to wait until shops are open during working hours. You can also shop from any country without being physically there this helps in reducing wastage of time which might be used in other productive activities. 2. You can also compare prices of good easily without physically being there...