Chapter 4.5: Securing Payments and Navigating Legal Issues in EC

Payment services

allow online customers to purchase goods online without having to reveal much private information to the actual sellers.

Cryptocurrencies

virtual currencies that are not issued by any central bank and use encryption technologies to secure transactions and to generate new units of the currency.

Blockchain

an indelible, decentralized public ledger to which transactions are added in blocks, serving as proof of all transactions ever made

Card security code

a three-digit code located on the back of the card; this code is not stored in the card’s magnetic stripe and is thus only known to a person who is in the possession of the physical card

Fraud indicators

email addresses, shipping and billing addresses, and transaction patterns.

Internet Tax Freedom Act

an act mandating a moratorium on electronic commerce taxation to stimulate electronic commerce.

Digital Rights Management

a technological solution that allows publishers to control their digital media (music, movies, and so on) to discourage, limit, or prevent illegal copying and distribution.

Digital watermark

an electronic version of physical watermarks placed on paper currency to prevent counterfeiting.

Net neutrality

the principle that all internet data should be treated the same.