INTRODUCTION The Internet offers tremendous opportunity for merchants around the world to sell their products online. However, the anonymous and open nature of public communication networks has presented serious challenges for securing personal and bankcard information over the Internet. U.S. businesses are seeking opportunities worldwide by using the Internet to open up unreachable foreign markets. According to Internetstats.com, nearly 134 million Americans are online today compared to 118 million last year. Cap Gemini USA estimates that roughly 55,000 new users are going online every day. With this much growth in online use the natural beneficiary is online commerce. Industry's role in this regard then is to provide confidence for the customers that the transactions online are secure.