Tuesday 25th June, 2013
11:00am to 11:40am
Development of 3D-Security, upgraded e-commerce security to a higher level with getting an extra layer for security in online credit/debit card transactions. With 3D-Security, e-commerce achieves Chip&PIN-like implementation. Adding “Interoperability Domain - ACS” to Acquirer and Issuer Domains provides card owner authentication and hands all the risks over the card owner. Although, banks and e-commerce merchants have no risk as long as they support 3D-Security, nobody can guarantee a cardholder in order not to get threat of merchants’ malicious order collection and canvass. Another misgiving matter is not to predict the behaviour of the merchants in the situation of corporate disasters or bankruptcies. Any merchant immersed in debt (gone to bankruptcy) may cheat customers by collecting orders and do not deliver goods and services. We assert no absolute security is achieved in e-commerce by burnout of 3D-Security, there should be a mechanism to be able to protect card holders from merchants’ malicious actions. In this study, we are proposing and announcing a new model called “Merchant Secure E-Commerce (MSEC)”. MSEC is a model that provides online merchant score lookup via Merchant Control Servers (MCS) at time the transaction is processing. MCS (ACS-like server) maintains and keeps up-to-date Merchant Trust Score (MTS) information of registered merchants after every transaction acquired from. MSEC makes e-commerce transaction more secure by ensuring/potentiating the merchant trust level. Adding MSEC to 3D-Security results 4D-Security in e-commerce. In 4D-Security, online transactions will be visiting 4 domains: 1-Acquirer Domain, 2-Issuer Domain, 3-ACS Domain and 4-MCS Domain. We are believing 4D-Security would constitute near-zero-risk e-commerce model for whole world.
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