Importance of Digital Signature in e-Commerce

Table of Content

• What is Digital Signature in e-Commerce?
• Why is Digital Signature Necessary in e-Commerce?
• Role of Digital Signature in the e-Commerce industry
• Advantages and Disadvantages of eSignature
• Types of Digital Signature in e-Commerce
• Create Digital Signatures for E-Commerce
• Conclusion

A Digital Signature is a mathematical method for confirming the veracity and consistency of a digital message, Document, or piece of software. It gives much more intrinsic security than a handwritten signature or stamped seal, yet it is the digital version of them. The issue of tampering and impersonation in digital communications is addressed by a Digital Signature.

The origin, identity, and status of electronic Documents, transactions, or digital messages can be verified using Digital Signatures. They can also be used by signers to confirm informed consent. Digital Signatures in e-Commerce are regarded as being equally as Legally binding as traditional handwritten Document signatures in many nations.

What is Digital Signature in e-Commerce?

e-Commerce throws the light on the Online transaction process. Any business that involves e-Commerce transactions and buying & selling is involved in e-Commerce. Business which is Online comes under e-Commerce. 

Digital Signatures in e-Commerce are vital in e-Commerce as they ensure secure and trustworthy electronic transactions, streamline processes, and provide Legal validity to electronic Documents and agreements. It also helps in building up the trust between the buyer and seller. It provides a notion of authenticity of any transaction, Documents etc.

Why is Digital Signature Necessary in e-Commerce?

As already mentioned above that the Digital Signature in e commerce plays a vital role and the importance of Digital Signature are:

1. Authentication: With the help of Digital Signatures, it is possible to confirm the parties to a transaction are who they say they are and that the transaction is valid.
2. Non-repudiation: With Digital Signatures, it is impossible for the signer to later retract their signature. Additional security and fraud protection are provided by this.
3. Integrity: Digital Signatures provide assurance that the transaction is secure and genuine by ensuring that the Document or message being signed has not been tampered with or altered in any manner.With the help of Digital Signatures, it is possible to confirm the parties to a transaction are who they say they are and that the transaction is valid.
4. Efficiency: By doing away with physical signatures and paperwork, Digital Signatures increase transaction efficiency and speed, which is crucial for e-Commerce transactions.
5. Legal validity: Digital Signatures are legally valid in Indian and accepted as Legally binding methods of signing Documents in many jurisdictions, adding a crucial degree of security to e-Commerce transactions.

What is the role of Digital Signature in the e-Commerce industry?

 The use of Digital Signatures in e-Commerce has made things easy for the public. They are not supposed to compromise their hectic schedule just for some signatures now. The role of Digital Signature in e-Commerce is to solve the issue of tampering and impersonation in digital communications. The origin, identity, and status of electronic Documents, transactions, or digital messages can be verified using Digital Signatures. They can also be used by signers to confirm informed consent.

What are the Advantages and Disadvantages of eSignature?

There are various pros and cons of digital signatures that one can avail by using this technology. Here are the advantages and disadvantages of digital signatures:

Benefits of Digital Signature in e-Commerce 

• Authentication: Digital Signatures aid in confirming the parties to the transaction are who they say they are. By doing this, it is made certain that the parties are who they say they are and that the transaction is Legal.
• Security: To maintain the security of the transaction, Digital Signatures make use of powerful encryption techniques. Hackers and other unauthorized parties will find it challenging to intercept or interfere with the transaction as a result.

• Efficiency: By doing away with paper and physical signatures, Digital Signatures increase the speed and efficiency of a transaction. This is crucial in e-Commerce transactions when efficiency and quickness are essential.
• Savings: Processing and administering paper-based transactions are less expensive when using Digital Signatures. This is especially crucial for companies that handle a lot of transactions.
• Legal validity: Digital Signatures are accepted as a reliable means of signing Documents Legally in many different jurisdictions. They are therefore a trustworthy and widely used technique of carrying out e-Commerce transactions.

Disadvantages of Digital Signature in e-Commerce

• Software: The process of Digital Signature in e-Commerce is done through various softwares. The work done by the softwares or technologies can be unreliable sometimes. Which can lead to a disrupted process.

What are the types of Digital Signature in e-Commerce?

There are two types of Digital Signature in e commerce, which are:

1. Phone Number OTP: The easiest way to Digital Signature through phone number. When you are required you can opt for this way if your number is not linked with your Aadhaar card. After putting in the One time password the Document is signed and a mail is sent to your emails with the attached signed Documents.
2. Aadhaar Card OTP: When you are finished up with the Documentation process and now you are at the point where you are required to sign now. So you need to put in the OTP first to reflect the signatures on the Documents. In the Aadhaar card method the number should be linked with your Aadhaar card, an authentic way to sign because the Aadhaar card replicates your identification in the nation. The implementation of Digital Signature in e-Commerce on Documents can only be done if the Aadhaar card is linked with your number.

How to Create Digital Signatures For e-Commerce?

Now lastly let us discuss how you can acquire Digital Signatures in e-Commerce. The steps are:

• Visit our websites homepage www.edrafter.in 
• Under the services you will find the Digital Signature options. 
• First, you are required to upload the Document on which you have to sign digitally, then few information is required to fill up such as signatory name, number etc.
• Then you will find the options of  Aadhaar Card and Phone OTP. Choose one.
• After that you come to the payment section to make the payments. 
• You will receive mail with the option of signing now. Click it. You will find the Documents outlet to sign.
• You will get an OTP on the concerned number, put in the OTP and sign the Document. After that you will receive the final signed Document on your mail ID. 

Conclusion

So in the end, we have got an easy solution with the Digital Signature. In e commerce Digital Signatures are important because if everything is being done online so why not signing all the Documents online. Everything is easy for everyone, for the person who is initiating for signatures and for the signatory as well. So grab the opportunity now!