Vendor Verification: Boosting Consumer Confidence in E-Commerce

Contributed by Thomas Stroud

The purpose of this paper is to propose a new method for verifying the identities of vendors in electronic transaction processing as it relates to consumer confidence in e-commerce. Current problems plaguing consumers in the private sector will be discussed with particular attention given to ransomware and similar unwanted programs. This is followed by a discussion of the Secure Electronic Transaction protocol, which provides a framework for vendor verification, andoffers one potential solution for verifying the identities of vendors on the internet. The paper wraps up with implications of vendor verification, including its pros and cons, and finally a summary of the information presented.

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