Security is an essential part of any transaction that takes place over the internet. Customer will loose his/her faith in e-business if its security is compromised. Following are the essential requirments for safe e-payments/transactions −
Confidential − Information should not be accessible to unauthorized person. It should not be intercepted during transmission.
Integrity − Information should not be altered during its transmission over the network.
Availability − Information should be available wherever and whenever requirement within time limit specified.
Authenticity − There should be a mechanism to authenticate user before giving him/her access to required information.
Non-Repudiabiity − It is protection against denial of order or denial of payment. Once a sender sends a message, the sender should not able to deny sending the message. Similary the receipient of message should not be able to deny receipt.
Encryption − Information should be encrypted and decrypted only by authorized user.
Auditability − Data should be recorded in such a way that it can be audited for integrity requirements.