📌 Secure Transaction Systems Summary
Secure transaction systems are technologies and processes designed to make sure that money and sensitive information can be exchanged safely. They use security measures like encryption, authentication, and monitoring to protect data from theft or tampering. These systems are often used by banks, online shops, and payment processors to keep transactions private and secure.
🙋🏻♂️ Explain Secure Transaction Systems Simply
Imagine sending a letter with important information inside. A secure transaction system is like putting that letter in a locked, tamper-proof box that only the right person can open. This helps make sure nobody can steal or change what is inside while it is being delivered.
📅 How Can it be used?
A secure transaction system can be used to safely process online payments for an e-commerce website.
🗺️ Real World Examples
When you buy something online and pay with your credit card, the website uses a secure transaction system to encrypt your card details and verify your identity. This prevents hackers from stealing your information during the payment process.
A mobile banking app uses a secure transaction system to let users transfer money between accounts. It ensures only the account owner can authorise transfers and keeps all personal data protected from cybercriminals.
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