Full Project – Design and implementation of a secure e-transaction system

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CHAPTER ONE

1.1 GENERAL INTRODUCTION

SET is an open encryption and security specification designed to protect credit card transactions on the Internet. The current version, SETv1, emerged from a call for security standards by MasterCard and Visa in February 1996. A wide range of companies were involved in developing the initial specification, including IBM, Microsoft, Netscape, RSA, Terisa, and Verisign. Beginning in 1996, there have been numerous tests of the concept, and by 1998 the first wave of SET-compliant products was available. SET is not itself a payment system. Rather it is a set of security formats and protocols like (Secure Sockets Layer (SSL), Microsoft’s Secure Transaction Technology (STT), and Secure Hypertext Transfer Protocol (S-HTTP). SET uses some but not all aspects of a public key infrastructure (PKI) that enables users to employ the existing credit card payment infrastructure on an open network, such as the Internet, in a secure fashion. In essence, SET provides three services:

Payment methods are significantly lower. Given that the debit/credit card is the primary means for consumers to purchase products or services online, the possible compromise of credit card numbers is a serious threat to the consumer. The E-payment system brings users with higher efficiency, credibility and speeding-up transactions settlement, which reduce the pay risks caused by time lags in handling the bills. However, it also comes with new risks, i.e. security problem of transactions. The research reported here builds on the electronic payment security; we study the security of e-commerce protocols and we propose a new efficient protocol to ensure a high security for electronic payment transactions. The objective of our protocol is to provide issuers with the ability to authenticate cardholders during an online purchase without involving the third party VISA or MasterCard. We define a new transaction flow involving cardholder, merchant, payment gateway and card issuer, and allowed parties to identify themselves to each other and exchange information securely using digital certificate. For some implementation reasons, the cardholder is not requested to have his digital certificate, he use the password code to be authenticated by the card issuer (Koponen, 2006).

1.2 STATEMENT OF THE PROBLEM

The research reported here builds on the electronic payment security; we study the security of e-commerce protocols and we propose a new efficient protocol to ensure a high security for electronic payment transactions.

1.3 AIMS AND OBJECTIVES

The objective of our protocol is to provide issuers with the ability to authenticate cardholders during an online purchase without involving the third party VISA or MasterCard. We define a new transaction flow involving cardholder, merchant, payment gateway and card issuer, and allowed parties to identify themselves to each other and exchange information securely using digital certificate. For some implementation reasons, the cardholder is not requested to have his digital certificate, he use the password code to be authenticated by the card issuer.

1.4 SIGNIFICANCE OF THE PROJECT

In view of the rapid development of computer technology in almost all the fields of operation and its use in relation to information management, it has become important to look into the development of secure electronic transaction to avoid the rate of online fraud in our environment.

1.5 SCOPE OF THE PROJECT

In this project, Secure E-Transaction, Osun Mall Osogbo, Osun State is taken as a case study which enables customers to order for items, get it delivered accordingly and also to reduce the long queues of customers at the counter ordering for goods alongside putting into consideration on how to make payment for their transaction with rest of mind without been defraud from there transaction done.

1.6 DEFINITION OF TERMS

Secure: Secure definition is – free from danger. How to use set aside dangers which might be fraud danger or online danger.

Electronic: (of a device) having or operating with components such as microchips and transistors that control and direct electric currents.

E-Transaction: An electronic transaction is the sale or purchase of goods or services, whether between businesses, households, individuals, governments, and other public or private organisations, conducted over computer-mediated networks.

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