Security Issue s In Ecommerce Essay Example | Topics and Well Written Essays - 2000 words

Security Issue s In Ecommerce - Essay Example acy of result, frankness and convenience of payment processes, loss of collateral information, globalisation, and rise of new commerce models (Laudon & Traver, 2008). Small firms seek to venture into ecommerce with the main aim of increasing revenue through reaching new markets and winning more clients. Ecommerce will enable the small business shorten procurement cycles through the use of on-line cataloguing, checking and payment, gain access to global markets at a smaller portion of traditionalcosts, ensure product, marketing information and prices are always up to date, allow them to compete with large businesses over a common platform, and increase sales opportunities. In addition, ecommerce will enable these small firms ease the audits they conduct on their systems because electronic data is easier to audit. It will also enable them reach out to clients in remote areas, and ensure the goods are available 24/7 for anyone to purchase. This will surely lead to increased generation of revenues. As we all know, fraudsters would aim on the big firms in the ecommerce business. Their enormousconsumer base is like mouth-watering bait for fraudsters. That may safe to think, however, it has been a big misconception.While the aim of fraudsters is to access money, they are not aiming at big ecommerce stores. They go for the small companies for the key reason that smaller e-commerce sites appear to have disregarded one important element – strict security measures. The easy access to critical information and the susceptibility of security systems trap these fraudsters to these smaller stores that are engaging into ecommerce. Campbell et al (2010, p.37) estimates that 90 per cent of credit card safety compromises in the ecommerce industry originate from Level 4 Merchants (ecommerce websites that process fewer than 1 million total card payment dealings and less than 20,000 ecommerce dealings in a year. As a small business, it is important to understand the reasons that