The acronym HTTPS signifies Hypertext Transfer Protocol Secure. It is an extension of HTTP that uses encryption to secure data transmitted between a user's browser and a web server. HTTPS employs protocols such as SSL (Secure Sockets Layer) or TLS (Transport Layer Security) to establish a secure link, protecting sensitive information from eavesdroppers and attacks. This added security layer is crucial for online transactions, where personal and financial data is exchanged. Websites utilizing HTTPS are often considered more trustworthy by users, boosting confidence in online interactions.