Security Concerns Over Internet Transactions and Their Impact on Consumer Confidence

With a dramatic increase in Internet usage in the last few years, consumers and firms alike are expressing security concerns over commercial transactions on the World Wide Web. This is a study on the secure transmission of data over the Web and its relationship to consumer confidence. It is noted that people who know about security technologies existing on the Web are more likely to undertake a commercial transaction on it. The paper examines some of the encryption technologies available. It is also observed that more research and a wider application of security measures is needed on the Internet. These measures need to be publicized widely in order to increase consumer confidence. The role of the United States Government in dealing with these technologies is also looked into with a conclusion that less interference by the Government is better for wider deployment of security technologies resulting in a growth in confident commercial activity on the Web