What are some developments in the industry regarding secure transaction systems?
In 1997, web commerce has taken a giant leap forward when consumers are offered the security of special encrypted IDs and credit card numbers. Sensing new money flowing into their coffers, major credit card companies are working feverishly to put together accepted security standards for online commerce. MasterCard just announced that it is joining with IBM, Netscape, GTE, and CyberCash to hammer out specifications. VISA has teamed with Microsoft for the same purpose. By the end of the year we can hope to see progress in Internet credit card sales. They’re taking place right now, mind you; but when public confidence in Internet security is achieved, expect a dramatic up-turn in sales.
