Description: Electronic transaction security refers to the measures implemented to protect transactions conducted through digital platforms, ensuring that sensitive information, such as credit card data and user credentials, is safe from unauthorized access. This includes the use of technologies like encryption, which encodes information so that only the intended recipient can read it, and two-factor authentication, which adds an extra layer of security by requiring users to verify their identity through a second method. The importance of security in electronic transactions has grown exponentially with the rise of online commerce and the digitization of services, becoming a critical aspect for consumer trust and the integrity of payment platforms. Without these measures, users would be exposed to fraud, identity theft, and other cybercrimes, which could result in significant financial losses for both consumers and businesses. Therefore, electronic transaction security not only protects individuals but is also essential for the stability and reputation of digital payment platforms.
