Step 1: Open the original image and double-click the background layer to convert it to a normal layer.
Step 2: Hold down Ctrl+click the converted background layer to load the selection. Execute the selection menu - Transform selection, hold down Alt+Shift to shrink the selection proportionally as shown:
Step 3: Create a new layer, invert the selection, fill it with white, and change the transparency to 80, or user-defined.
Step 4: Cancel the selection and add a layer style to the border layer. The effect is as shown below:
Finish
