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Online shopping has many advantages.According to Jerri Collins (2018), the most important is its convenience and a better price. We do not have to wait in a line or wait till the shop assistant helps. We can do shopping in minutes even if you are busy. Because the products come to us directly from the manufacturer or seller without middlemen involved. Many online shops offer discount coupons and rebates on holiday, therefore we will have a greater price than the retail store.
Medium of studies (2016) finds that the Internet is a modern marvel that has changed the way we view the world. It has revolutionised almost all aspects of life including the way we live, the way we talk and even the way we shop. The craze for online shopping is ever increasing and it has spread across the world like a wildfire. The internet is very much responsible for this phenomenon but there are many other reasons why people prefer shopping online rather than going to the actual market. Here is a list of Medium of studies (2016) suggest the reasons how online shopping has made our lives easier and more convenient:
1. Transportation was a problem we had to negotiate with before online shopping came in. Going to the mall or the market was a dreadful affair for the shoppers as they had to negotiate with traffic, spend money on fuel, fight for a parking spot, carry the items back to their vehicles, etc. Online shopping is a relief for us from all these stress.
2.For those who hate crowds, online shopping is the perfect zone to get a crowd-free, soothing shopping experience.
3. Also worth mentioning is the fact that your items will be delivered at your doorstep once you have placed an order. That is a luxury you cannot afford to miss.

Identity Theft

There has been a notable rise in online shipping. However, there are various pitfalls to ad this limitation factors. This includes the risk factors it entails.

The following essay demonstrates how safe online shipping has been. It also analyzes lack of touch and fraudulent activities in online shopping.

The first risk is identity theft. Any purchase through online lies in connection security. It must be reminded that every web users crucial for wireless connections or outside users can read and download those data in a credit card. The FTP or File transfer protocol displays plaintexts. This has been making that vital to use encryption software. This is to keep people reading information about a credit card.

Then there are compliance costs. Controlling credit card payments has needed compliances with various legal guidelines. State and national compliance laws have been created complying to standards of an industry for every company in robust, processing and transmitting information regarding a credit card. Here, the most critical compliance standard is PCI DSS. Here compliance cost has been from scope and size of the business (Ooi & Tan, 2016). Notably, for smaller online activities, it has been vital to know what payment providers have been offering to help in understanding and complying with PCI standards.

Then there is transaction and volume. Having more credit card payments, various extra bottlenecks are there. It is seen that any chip-secured slows down processes. This leads to customers getting frustrated who have not been realising credit cards containing those chips. Here, the roadblocks to sales have never made an online success (Kahn & Liñares-Zegarra, 2016). It is seen that some percentage of online sales report has preferred to check out guests in avoiding complexities of log-ins. However, half the clients have never been returning to sites as they leave for looking discount codes (Oliveira et al., 2016).

Next, there is the case of wrapping-up. Here companies must remind how success can be obtained in the e-commerce sphere. Various solutions can be provided to find issues facing business transitioning to digital sales world.

Contactless card payments are convenient and quicker. Here convenience has been coming at prices that are vulnerable to different fraud. Here, some of the vulnerabilities are distinct to contactless payment cards. Here others have been sharing PIN Cards and chips. They are to be plugged to card readers on which they have been on a basis (Giese et al., 2018).

Compliance Costs

Here, some of those vulnerabilities have been distinct to contactless payment cards. Here others have been sharing PIN Cards and Chips. Here they are to be plugged in card readers on which they have been based.

Here they are vulnerable to what is known as a relay attack. There are risks for contactless cards that have been higher since no PIN number is needed to finish that transaction. In this way, the card payment industries have been working on solving those issues. In the same way, there have been relaying attacks on fraudsters has been working in fake cards that have never known how to react appropriately for payment terminal since, unlike specific maps, it has never contained cryptographic keys that ate known to those cards and banks verifying that the card is genuine. However, similar to fake ones, these fraudsters have been able to depend on communicating sound cards in place of counterfeit tickets. Here for instance victim’s card has been fake or must comprise of hacked card payment terminal (Hernandez et al., 2017). Here criminals have been using counterfeit cards for purchasing positive terminals. Here the banks have been challenging fake cards in proving their identities. Here the challenge has been depending on  maps in hacked terminals. Further, the results are the terminal used for actual purchase seeing fake cards as genuine. Here the victims have been finding unexpected and costly investments on the statements.

Various online actions and marketplaces have been becoming a leading method to make trade online. However, fraudsters have been using them to undertake benefits of their trusts to sell non-existent items and various poor-qualities. One can find that anything bought online has been arriving late or never at all. Here, there are multiple cases that the products paid has been of less value compared to that shown in advertisements (Lee et al., 2018). This might be distinct from the original, and the users might not be asked about vital data regarding products or terms of sales. As one is sold, one might not be paid. Here the buyers have never been providing excuses why they have not been sending payments and must ask top deliver items for selling first and expect money later. In many cases, one might ask to provide identity details or any personal financial data to online sellers who have used that is defrauding.

Further auction and shopping fraudulent include fraudulent shopping that has rarely been over Internet. As the popularity of online auctions or Internet shopping rise, the amount of complaints regarding transactions has been rising (Yoshida et al., 2017). Here some of the common complaints have been including buyers receiving goods later one and not at all, and sellers have been not receiving any payments, buyers have been receiving goods that are less valuable than those been advertised or significantly distinct from the main descriptions. Here failure to disclosing related data regarding products or terms of sales are also there. As one is a victim of shopping or related auction frauds, the most vital issues that never have any actual prospect to return goods and money get refunded (Khan et al., 2015). Then the risk of identity details can be said to be compromised. Here, fraudsters have been stealing the identity and using that to access personal finances and obtains financial goods from alternative sources.

However, it must be reminded that the scenario is changing adversely. It is still vital not to neglect the negative sides of online shopping. The various online shopping platforms might not come up with that expected from their intended customers. For this, the above study is helpful to understand the various risks in this scenario.

References:

Giese, D., Liu, K., Sun, M., Syed, T., & Zhang, L. (2018). Security Analysis of Near-Field Communication (NFC) Payments.

Hernandez, L., Jonker, N., & Kosse, A. (2017). Cash versus debit card: the role of budget control. Journal of Consumer Affairs, 51(1), 91-112.

Kahn, C. M., & Liñares-Zegarra, J. M. (2016). Identity theft and consumer payment choice: Does security really matter?. Journal of Financial Services Research, 50(1), 121-159.

Khan, F., Rasli, A., Yusoff, R., & Isa, K. (2015). Impact of Trust on Online Shopping: A Systematic Review of Literature. Journal of Advanced Review on Scientific Research, 8(1), 1-8.

Lee, J.Y., Fang, E., Kim, J.J., Li, X. and Palmatier, R.W., 2018. The Effect of Online Shopping Platform Strategies on Search, Display, and Membership Revenues. Journal of Retailing.

Oliveira, T., Thomas, M., Baptista, G., & Campos, F. (2016). Mobile payment: Understanding the determinants of customer adoption and intention to recommend the technology. Computers in Human Behavior, 61, 404-414.

Ooi, K. B., & Tan, G. W. H. (2016). Mobile technology acceptance model: An investigation using mobile users to explore smartphone credit card. Expert Systems with Applications, 59, 33-46.

Yoshida, K., Tsuda, K., Kurahashi, S. and Azuma, H., 2017, July. Online Shopping Frauds Detecting System and Its Evaluation. In 2017 IEEE 41st Annual Computer Software and Applications Conference (COMPSAC) (Vol. 2, pp. 649-653). IEEE.

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