A framework for assessing payment security mechanisms and security information on e-commerce web sites

Abstract

The enthusiasm of many consumers when selecting products for purchase over the Internet is often dampened at the point of payment largely over security and privacy concerns and financial risks. The levels of confidence that exist among potential and existing online purchasers can be influenced significantly by the extent to which merchants inform and reassure their customers over security features and mechanisms that support their e-payment options. This study sets out to establish how online merchants attempt to engender this trust in the payment instrument options on offer to potential customers by indicating technical competence and ability to meet fiduciary obligations. A preliminary assessment of a selected number of Australian web sites was made to determine the extent to which they realize security solutions and other trust mechanisms in practice, and the level and the quality of information they provide to consumers on the technical security solutions in place.