Sun, 13 Aug 2000

Taking Leadership

Some people are still reluctant to make purchases via the Internet due to such reasons as security and other considerations related with safety and convenience. Well, they can now enjoy carrying out transactions through the Internet from their home PCs, buying various items and getting them delivered on time thanks to the system offered by PT eSecure Indonesia.

The Internet is changing the way every business works. The number of Net users are multiplying at an incredible rate. And simultaneously, the cyber world has become the hottest location on earth to open a business.

Nothing unusual, actually, since online shopping provides everyone access to a global selection of merchandise without leaving home. Online companies are opening new markets, attract new customers, encourage sales and minimizing operating costs. Every second of the day.

More importantly, online buyers are looking for even greater convenience. They want to be able to transact their business using a one-click solution.

In short, the opportunity for growth is almost unlimited. Consequently, as the number of Internet users continues to grow rapidly, financial institutions and merchant will need to offer consumers cost effective, easy-to-use and secure financial transaction methods.

Unfortunately, the current transaction processing infrastructure is susceptible to online fraud. It is not suited to open networks, including the Net!

Taking the leadership position in making Internet shopping safe, eSecure provides software and services that together create the secure online infrastructure necessary to connect both buyers and sellers to their trusted financial service providers. This infrastructure offers fast, easy and safe Internet transactions for virtually everyone involved in e-commerce.

eSecure's products are designed to allow consumers (credit- card holders), merchants, financial institutions and other business organizations to respond to the requirements of the Internet commerce market and its all subsequent changes as well.

The main goal is delivering a payment system that is:

* Cost effective

* Easy to deploy

* Easy to maintain and upgrade

* Payment and shopping system independent

* Designed to operate with legacy back end systems

* Designed to support SSL and SET TM and accommodate new payment methods and services as they become available

* Designed to provide easy migration from SSL to SET TM

The company's secure transaction software can save business-to-consumer and business-to-business companies millions of dollars in operational costs. In this respect, eSecure is playing an important role in the expansion of e-commerce in Indonesia.

Putting the world's largest shopping mall at one's fingertips

Starting solely as an information storehouse, the Internet has now evolved into a global, dynamic marketplace.

Paradoxically, no matter how it may have redefined the way people work or live to some extent both buyer and seller are still concern about security and loss of privacy when it comes to doing e-transaction.

To a large extent, online purchasing still remains awkward, because there is little standardization.

The industry's platform and some devices, such as PDAs and cell phones, are not fully enabled for buying online. As a result, about a third of all online transactions never happened or abandoned half way through. The bottom line is: both consumers and merchants worry about security. Buyers have no control over how their personal information will be used, while merchants hope to stem the rising tide of online fraud. In short, insecurity is the main worry ...

Wonder of all wonders, this marketplace is doubling it size each year (about 500 million users in the next three years). If these problems remain unaddressed, the phenomenal growth of e- commerce could seriously stall.

As the number of internet users continue to grow rapidly, consumers, merchants and financial institutions, will need to offer consumers cost-effective, easy-to-use and secure financial transaction methods.

Today, buyers and sellers can communicate on the Web, using standard Web technologies. Banks, credit-card issuers and cards processors readily transfer money, using standard private networks, such as BisaNet, SWIFT, and FedWire. However, there is no current industry standard for buyers and sellers to pass instructions directly over the Internet to their financial service providers. These communications are occurring through ad hoc solutions and traditional methods, such as phone, fax and mail.

The future of e-commerce requires an infrastructure that fully connects banks, credit-card issuers, buyers and sellers. Moreover, it must make these connections in a way that is automated and inexpensive, but still dynamic. It must use standard Internet protocols and operate in real time.

To make it happen, eSecure is taking the lead, working hard to ensure that using credit card in cyberspace will be as easy and as safe as in its parallel world -- the local stores.

The SET Secure Electronic Transaction TM protocol is an open industry standard developed for the secure transmission of payment information over the internet and other electronic networks.

Currently, SSL (Secure Socket Layer) is the most common payment method used in electronic commerce. While SET TM provides communication four ways, SSL only encrypts data between a Web browser and a Web server. SSL does not specify what data is sent or encrypted. In a SET TM session, all data sent is encrypted.

SET TM uses a system of locks and keys along with certified account with for both consumers and merchants. Then, through a unique process of encryption (scrambling), the information is exchanged between shopper and the online store. More than that, SET TM provides authentication that a cardholder is a legitimate user of a branded payment card account. And, that a merchant can accept branded payment card transactions through its relationship with an acquiring financial institution.

The SET Secure Electronic Transaction technology (SET TM) -- recognized as the emerging standard for secure payment card purchases -- is designed to allow financial institutions, merchants aggregators, merchants and other business organizations to respond to the requirements of, and changes in the internet commerce market.

Developed by Visa, MasterCard and their technology partners, SET TM (trademark) is an encryption technology that helps protect the transfer of payment information over open networks, such as the Internet. The system uses advanced security technology that brings about secure payments on the internet.

SET TM in Brief

SET TM technology protects payment information in four ways:

It enables a cardholder to authenticate that a merchant is authorized to accept payment cards in a secure manner using SET TM technology.

IT enables a merchant that is using SET TM technology to authenticate the payment card being used in the transaction.

SET TM technology uses an advanced encryption system to protect personal payment information during transfer over the network.

SET TM technology makes sure only the intended recipient reads the payment information. Information that can only be decoded by a merchant and a financial institution that both use valid SET TM technology.

PT eSecure Indonesia

E Trade Building 3rd Floor

Jl. K.H. Wahid Hasyim 55,

Jakarta 10350

Telephone (021) 3146155

Fax (021) 3146154