Infocards and Identity Theft

How Infocards Can Reduce Online Identity Theft

The ominous ever-present threat of identity theft has the potential to drastically alter and affect ebusiness. Consumers have come to enjoy the ease and convenience of ordering online, but because identity theft criminals are technologically savvy, the internet might not be able to continue in its current form. Internet merchants must change with the times or risk being phased out as the threat of identity theft looms. That’s where infocards come into play.

A Possible Solution To Online Identity Theft?

Some consumers are afraid to order online, which can drastically affect online businesses. Some companies are attempting to offer solutions to make the experience of shopping online safer. Infocards are one proposed solution and they will hopefully reduce the risk of identity theft when making online transactions. Infocards would also eliminate the need for consumers to create separate usernames and passwords for every online merchant they purchase from. Not only will infocards reduce the risk of identity theft, but they will also make online shopping more convenient too.

What Are Infocards?

Microsoft has created a Cardspace system which uses infocards. Infocards would allow online merchants to confirm a consumer’s identity without having access to the customer’s financial information. With Infocards, banks would be the intermediary for online transactions. Retailers would receive confirmation but no personal or financial information would be transmitted to them. Cardspace is a great starting point, but the system will likely take a lot longer to develop and implement than many would like. There are a lot of details that would need to be addressed in order to make such a system successful and getting online merchants to participate is another matter entirely.

The future looks optimistic, though. So many consumers love shopping online because of the convenience and the vast selection of merchandise available that they cannot always purchase locally. Because of this, it seems likely that technology will keep up with the demand and that new identity theft products, such as Infocards, will make online shopping safer by reducing the risk of identity theft.

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