White Paper Explores Importance of Security and Trust in Online Transactions

March 14, 2012

White Paper Explores Importance of Security and Trust in Online Transactions

By Susan J. Campbell, TMCnet Contributing Editor

Conducting business online has proven to be a viable and profitable endeavor, yet it is not one without its risks. The more commerce that takes place over the Internet, the more attractive it is for hackers and cyber criminals to attack processes, steal information and make their own money – illegally. To protect these processes and the future of online business, security and trust must be firmly in place.

One industry study suggests that 21 percent of users have abandoned an online purchase due to security concerns related to credit card data. Others have made small purchases, yet limit the size of the transaction over fear the transaction will be compromised. And, such fears are well-founded. In 2009, the 11th Annual Online Fraud Report estimated losses due to fraud in the U.S. and Canada reached $3.3 billion for online retailers.

To combat security threats online, Silver Tail, a provider of web session intelligence, recently announced the availability of the Profile Analyzer. This new solution is promoted as the first product available on the market that will provide a real-time analysis of individual and crowd behavior on websites so that malicious activity can be easily identified.

According to Nick Edwards (News - Alert), vice president of Marketing with Silver Tail Systems, traditional end point protection and monitoring tools are failing to keep pace with the rapid advancements of cyber criminals. As organizations are under increased pressure to protect their business and online customers, the real-time analysis of user behavior is another step in the process of delivering the secure and trusted online experiences consumers have come to expect.

It’s critical that business learn how to quickly build trust among the consumer base by taking the necessary steps to secure data and transactions. Understanding online behavior to identify and mitigate threats is an important piece of the process. By clearly developing a strategy for secure processes and demonstrating the steps taken, the online business can build the vital trust that must be in place for long-term success.

A recent VeriSign (News

- Alert) white paper, “Security and Trust: The Backbone of Doing Business Over the Internet”, available HERE, explores these risks and the importance of building trust online. Any company hoping to do business over the Internet must be able to gain the trust of consumers if they hope to succeed. The company that fails to build trust will find a steady increase in abandoned transactions, referred to as the bane of eCommerce.

Edited by Jennifer Russell

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