Is HTTPS safe enough to make online transactions?
Today the internet is not limited to just view the web pages and gain the knowledge, the Internet is incredibly changed in last few years. A few years ago the internet was limited to just requesting the web page and getting the desired information, by considering the need of those days some rules and regulations are designed for successful and effective data communication between the browser and the server. These standards were named as Http (Hyper Text Transfer Protocol). HTTP is used by every web browser and web server to make a WWW (World Wide Web) platform independent (i.e. WWW should work on any digital device).
What is HTTP?
HTTP is a Hypertext Transfer Protocol. The protocol means the set of standards/rules. Every website is written in HTML (HyperText Markup Language) language. This protocol is used to process only HTML documents. However, every webpage on the internet is designed using HTML, it is necessary for every website and web browser to use the HTTP protocol to successfully communicate with each other.
What is HTTPS?
HTTPS (HyperText Transfer Protocol Secure) is an advanced version of the HTTP. Https is exactly the same as the HTTP, except the HTTPS provides data encryption, while HTTP does not provide data security at all. It means if you are on an HTTP site then the person on your network (say wifi) can see what you are doing/watching on the internet. But if you are on HTTPS site then this information is accessible to you and the website owner only. This is the main reason why cyber experts recommend not using public wifi for critical data transfer like bank transaction.
Since HTTP do not provide data encryption between the user and a server it is possible for a hacker(s) or network administrator to monitor what user is requesting to the server and what data is being provided by the server. For example, while making an online payment user provides all bank details with OTP/password/pin to the server to make a successful transaction. If HTTP is used then this information can be easily accessible for a person present on the same local network. This data leak can be prevented by the HTTPS. HTTPS protocol use encryption to transfer data, this adds an extra layer of security to your data.
Limitations of HTTPS
HTTPS prevents unauthorized access to the data on a local area network by providing proper encryption, but it can't prevent phishing attacks. Today almost every web hosting site provides HTTPS connection to every website. Hackers develop a dummy website using HTTPS to make it feel more secure, and it makes it possible for a hacker to steal important data using dummy HTTPS sites.