Taking Leadership
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
e-mail info@esecure-ind.com
www.esecureindonesia.com