Over 162 million electronic records containing data like credit card, social security numbers etc were compromised in 2007!!!!
With an increasing number of cases of data theft globally across retailer and financial institution databases, customers quite often seek simple solutions that offer greater online transaction security. The challenge is not only with credit card number details but a wide array of personal records including driver's license, PAN card numbers and other personal details.
Credentica is working on a product that would enable customers to enter partial information and not divulge the complete details whilst completing an Internet transaction.
Those who are "tech" oriented can visit their site or the recently published article in Wired.
However there are two key aspects that we need to address at this time, and which continue to infuence the growth of e-commerce....
a. Most researches conducted in India continue to indicate that online security continues to be an area of concern for customers to reveal their credit card details in an online transaction
b. With increasing instances of compromise of personal & transactional identity information, are we investing sufficiently in working towards a more secure payment mechanism for the Internet and mobile?