Security Issues and Countermeasures of Online Transaction in E-Commerce

Introduction To E-Commerce

Now days, e-commerce is a booming sector in the world of internet. E-commerce replaces the method of doing shopping traditionally by electronically over internet. E-commerce is stands for electronic commerce which involves the use of Information and Communication Technology (ICT) and Electronic Funds Transfer (EFT) in making commerce between consumers and organizations, organization and organization or consumer and consumer. With growing of internet Electronic data exchange (EDI) also increases which provides to do digital shopping in e-mall (electronic-mall). There are various types of business models for e-commerce which categorized as given below:

• 1.

  Business-to-Business (B2B): B2B e-commerce, the commerce takes place between two business entities or two business organizations. For an example, main buyer (say any top company) first sales their product to any intermediate buyer (say any BPO or website owner) and then the intermediate buyers will send the product to their end customers (Figure 1).

• 2.

  Business-to-Consumer (B2C): In B2C model any business organization or a company directly deals with its customer. Customer places order by seeing product on their website and company supplies product directly to customer (Figure 2).

• 3.

  Consumer-to-Consumer (C2C): In C2C business model, one end customer directly deals with another end customer by giving some advertisement of goods which he/she wants to sell over some website and another customer who wants to purchase that goods directly deals with that customer. In India, the website named OLX, giving this facility to sell your old or new product by uploading its advertisement on the website along with your details (Figure 3).

• 4.

  Customer-to-Business (C2B): In C2B model, customer directly approaches to the business organization for its particular need. For an example, suppose a customer wants the loan from bank with limited interest than he/she visits each bank website and read all the terms and policy then decide from which bank he/she wants the loan (Figure 4).

• 5.

  Business-to-Government (B2G): In this B2G model, the website is a mediator to communicate between various business organization and government. Suppose if any business organization wants to submit an application to government, it can be done with the help of these websites.

• 6.

  Government-to-Business (G2B): In this G2B model, government will approach to various business organizations for various purposes like to pass a tender, some actions etc.

Figure 1.

B2B e-commerce model

Figure 2.

B2C e-commerce model

Figure 3.

C2C e-commerce model

Figure 4.

C2B e-commerce mode