Electronic Commerce: An Analysis of Financial Transaction Methods and Associated Security

This study examines an obstacle to commerce on the Internet and the World Wide Web posed by a popular belief that the Internet and Web lack the technology needed for secure financial transactions. The reality behind such a belief has a direct effect upon commercial and financial transactions by DOD in view of an Executive Order that mandates Internet usage for electronic transactions. This study details and evaluates the methods available for secure financial transactions on the Internet. Each transaction method analysis provides security protocol functionalities, advantages and disadvantages and company profiles. The study also details the impediments to using the World Wide Web as a commercial medium. It concludes that the popular belief is unfounded. Implications are drawn for DOD practices and policy. DOD and the entire U.S. federal government has a stake in the Internets capability to process secure financial transactions.