Privacy Issues Of Using Cashless Mediums Of
Exchange Over The Internet
Author(s)
A. M. Young
Abstract
There is evidence to suggest that cashless mediums of exchange are becoming
more prolific. Following on from the physical use of credit and debit cards, bills
can now be simply paid by phone or via the internet by the average consumer.
This paper explores the privacy issues that arise as a result of the burgeoning
electronic payment system over the internet. When trading using cashless
mediums of exchange, record keeping functionally replaces cash. These
ubiquitous records imperil privacy. A privacy issue arises with the collection of
private information, despite whether it is used or not. Authorised use by
authorised parties does not necessarily mean that privacy is protected. Non
authorised uses by either authorised or non authorised parties are direct threats to
privacy. Protection methods such as encryption software are compromised by
market forces which drive the sale of the software, making protection a moving
technical target. Legislators in America have allowed this situation by making
the sales legal. Legislation changes so far are not seen to be sufficient to protect
privacy related to cashless mediums of exchange on the internet.
Keywords: privacy, internet, legislation, encryption.
1 Introduction
Following on from the physical use of credit and debit cards, bills can now be
simply paid by phone or via the internet by the average consumer. The internet
allows connected computers with protocols that allow interface with different
operating software and different applications. \“Although a system of networked
computers is not new, the recent growth in the significance and use of internet
banking has been astounding” according to Bollen [1].
Keywords
privacy, internet, legislation, encryption.
Related Book
Other papers in this volume
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