What is the role of cryptography in online payments?

What is the role of cryptography in online payments?

Cryptography secures online payments by encrypting sensitive data, ensuring that only authorized parties can access it.

How does encryption protect my credit card information?

Encryption transforms your credit card details into a code, making it unreadable to anyone who intercepts it during transmission.

Are there different types of cryptographic methods used in payments?

Yes, common methods include symmetric encryption, asymmetric encryption, and hashing, each serving different purposes.

What happens if my payment data is compromised?

If compromised, unauthorized parties could access your information, leading to fraud. That's why strong cryptography is essential.

Can I trust all online payment systems to use cryptography?

Not all systems are equally secure. It's important to use reputable payment processors that prioritize strong cryptographic practices.