E-CommerceA guide to getting introduced to

the world of e-commerce

CONTENTS 1.Introduction to Payment portals2.Different modes of online payments3.Internet Banking4.Security issues, Phishing etc5.Do’s and Don’ts

1. INTRODUCTION TO PAYMENT GATEWAYS• A PAYMENT GATEWAY IS AN E-

COMMERCE APPLICATION SERVICE PROVIDER SERVICE THAT AUTHORIZES CREDIT CARD PAYMENTS FOR E-BUSINESSES, ONLINE RETAILERS, BRICKS AND CLICKS, OR TRADITIONAL BRICK AND MORTAR.

• A PAYMENT GATEWAY FACILITATES THE TRANSFER OF INFORMATION BETWEEN A PAYMENT PORTAL (SUCH AS A WEBSITE, MOBILE PHONE OR INTERACTIVE VOICE RESPONSE SERVICE) AND THE FRONT END PROCESSOR OR ACQUIRING BANK.

2. VARIOUS PAYMENT GATEWAY PROVIDERS

Different modes of online payments

3. Internet Banking Online banking is an electronic payment system that enables

customers of a financial institution to conduct financial transactions on a website operated by the institution, such as a retail bank, virtual bank, credit union or building society. Online banking is also referred as internet banking, e-banking, virtual banking and by other terms.

To access online banking, a customer visits the financial institution's secure website, and enters the online banking facility using the customer number and credentials previously setup. Online banking services usually include viewing and downloading balances and statements, and may include the ability to initiate payments, transfers and other transactions, as well as interacting with the bank in other ways.

Features of Internet Banking• A bank customer can perform non-transactional tasks through online banking, including -

• Viewing account balances• Viewing recent transactions• Downloading bank statements, for example in PDF format• Viewing images of paid cheques• Ordering cheque books• Download periodic account statements• Downloading applications for M-banking, E-banking etc.

• Bank customers can transact banking tasks through online banking, including -• Funds transfers between the customer's linked accounts• Paying third parties, including bill payments (see, e.g., BPAY) and third party fund transfers (see,

e.g., FAST)• Investment purchase or sale• Loan applications and transactions, such as repayments of enrollments• Credit card applications• Register utility billers and make bill payments

• Financial institution administration• Management of multiple users having varying levels of authority• Transaction approval process

4. Security Issues in E-Commerce

Denial of Service Attacks ICMP Flood (Smurf Attack) Teardrop Attack Phlashing Distributed Denial-of-Service Attacks Brute Force Attacks

Cyber Threat intelligence ReportFirst Quarter 2014

The number of stolenCredit card information has

Increased by 48%Credit card information Theft via Point of Sales infections have Increased by 700%

The number of userID and password thefts has increased

By 410%

Incidents and financial impacts continue to grow

9

Social Engineering:

Social Engineering is the art of convincing people to reveal confidential information

10

Computer-based Social Engineering:Phishing

‘ ’ Phishing is the attempt to acquire sensitive information such as usernames, passwords, and credit card details (and sometimes, indirectly, money) by masquerading as a trustworthy entity in an electronic communication ’ ’

11

Computer-based Social Engineering:

12

What is a Denial of service attack?In a Denial of service attack (DoS) attackers flood a victim system withNon-legitimate service requests or traffic to overload its resources

Normal TrafficAttack Traffic

13

What are Destributed Denial of service attacks?

A DDoS attack involves a multitude of compromised systems attacking a singel target

To launch a Ddos attack,an attacker uses Botnets and attacks a single system

14

What are Botnets ?

Botnets are software applications that run aytomated tasksOver the internet and perform simple repetitive tasks

A Botnet is a huge network of compromised systems 15

16

What is SQL injection?

SQL injection is a technique used to take advantage of non-validated Input vulnerabilities to pass SQL commands through a web AppFor execution by a backend database

17

Do’s and Don’tsInitially, customers are simply browsing your products. They haven’t decided whether to purchase, or which items they want. Entice them, inform them, and let them have fun. Do focus on photography. Use unique angles and backdrops to photograph your products. Make

sure your space is well-lit, and capture the details of the item. Utilize the detailed view capability of your CMS, so that users can zoom in and see the item more closely. Provide multiple images for each product, and if the item is very small, add something next to the item (like a coin) to indicate scale.

Do categorize products. Categorize your products to make it easy for your customers to find what they’re looking for. Generally, you’ll want to start with broad categories and then narrow in on specific products. Group items by large differentiating factors such as gender, then move to more specifics such as style or function. Your categories will vary significantly depending on your business—discover how your customers browse by doing a quick competitive analysis.

Do keep shipping costs as low as you can. Research indicates that customers often abandon their shopping carts during checkout because of unexpected shipping costs. Studies have also shown that users are two times more likely to respond to free shipping offers than price discounts. Take into consideration that shipping costs can be a major deterrent—or enticement—to online shoppers, and determine a shipping cost strategy that offers the lowest shipping costs possible.

Don’t inflate product descriptions. Be detailed when writing your product descriptions, but avoid hyperbole and exaggeration. Add details such as product dimensions, materials, weight, color, sizing, origin, and manufacturing specifications. Be transparent during the early stages of your customers’ shopping experience.

Shopping

Checkout Do emphasize security. Offer safe and secure payment options that shoppers know

and trust, such as Paypal. Display security certifications throughout the checkout process. You can add links to detailed security information that appears in a pop out window.

Do simplify the checkout process. If you can, add a function so shoppers can see where they are in the checkout process. Keep the number of pages a customer has to navigate through as small as possible. Require customers to provide only the essential information you need to process the order, and make all other fields optional.

Do list your policies. Clearly list your return, exchange, and shipping policies. Be detailed and forthcoming about any timelines for returns, final sales, and an estimated shipping date. Provide contact information for customer support as well.

Don’t use the checkout process as a promotional opportunity. Keep the shopping cart and checkout phase for that purpose only. Add easy navigation back to product landing pages so customers can access last minute items, but avoid using this space to promote your latest blog post, or cram in unnecessary information. You don’t want to distract customers from completing their purchase.

Follow upStay in touch with your customers and gain their loyalty. Build a relationship with your audience, and take pride in seeing how it grows. Do incentivize customers to come back. In your follow up communications, whether

with your confirmation page or your email newsletter, encourage your customers to come back. Offer discount codes during holidays or sales. Give loyal customers sneak previews of new merchandise, and offer presale opportunities. You want your best customers to feel appreciated.

Do suggest popular and trending products. Position yourself as a thought leader by telling users what’s trending and which popular products you think they might like.

Do communicate. Request feedback from your customers about their purchase and experience. Respond quickly to order questions or quality issues. Give clear instructions for refund, return, or exchange requests.

Don’t spam. Having your customer’s contact information is a privilege, and one they will quickly revoke if you overwhelm them with emails, social media posts, print mail, or catalogs. If you’re not sure how frequently you should be reaching out, check out my social media engagement guidelines for helpful tips.