Online Paymentsa Major Security Concern Today!

The present banking, financial and regulatory environment of India needs to be streamlined. Most of the online payment frauds are conducted either through phishing, Viruses, Trojans, cloning of credit/debit cards or through denial-of-service attacks (DoS)

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Over the last 5 years, there has been a massive increase in the online payment industry. With the rapid growth of internet, billions of transactions are processed each year generating enormous amounts of electronic data and digital currency flow through the online payment ecosystem. E-Payment insures smooth, fast and efficient transactions in e-business but it is no secret the payment ecosystem is vulnerable. Much like the Internet, the payment infrastructure was developed for fast and easy transactions, not for security.