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Question 1: (05)
Assume that you want to buy an IPhone from an online shop. You had ordered an IPhone and made payment using Electronic check. You had forwarded the electronic check in a secure envelope to the payee. How will the payee decrypt the secure envelope to verify electronic check? Also describe the main reason which makes electronic check more secure than Virtual PIN payment system.
Question 2: (05)
Assume that you want to buy a book named “Electronic Commerce” from an online book shop using Virtual PIN payment system. You are already registered with First Virtual and your Virtual PIN is “alpha”. How would this transaction take place? Would you need your credit card number in this transaction? Why Virtual PIN is considered an insecure method for online transactions? Justify your answer.
