The implementation of security at myspeed.com Sdn Bhd / Rohaizan Daud

The exponential growth in e-commerce is set to continue, underpinned by the rise of the number of e-commerce transactions, the increase in the number of merchants, and the constant growth in Internet user numbers. Despite these growth factors, however, the industry is still struggling with the same basic and fundamental problem that has accompanied the industry since its humble beginnings: how can it ensure the security of e-commerce transactions? The issue of security is becoming increasingly critical to the success of e-commerce, driven by consumers ,governments and the merchants themselves. The recent spate of denial-of-service hacker attacks on the most popular and established of Internet sites has led to a further push for Internet-wide action on security issues. This paper is a discussion of the issue of security in e-commerce and the effect of security measures on the merchants behaviors generally and specifically at mySPEED.com. The paper will discuss the main problems relating to security in e-commerce, and what current approaches exist to address these problems. Following the discussion of these exiting approaches, the paper highlights the greater problem of the need for merchants to not only secure online transactions, but also their e-commerce sites as a whole. The paper concludes that the recent hacker attacks have highlighted the fact that many ecommerce merchants have preferred to concentrate on speed-to-market, not prioritizing on ensuring a sufficient level of security when building their e-commerce sites. Two additional problems are the lack of internet-wide standardization on one specific security mechanism, or set of mechanisms and the fact that merchants are neither required nor often willing to implement a better implementation of Internet security infrastructure and security control including mySPEED.com. The critical factor in the success of e-commerce will be the need for merchants to earn the trust of consumers, and as such, merchants need to make security their highest priority. The accreditation schemes such as TRUST e, security assessment and control seem to present the best opportunities for this to be achieved quickly.