If you want to succeed in the ecommerce industry, security must always remain top of mind. Did you know cybercriminals frequently target eCommerce businesses? In 2018, cyber-attacks against online businesses accounted for 32.4%. It's imperative that businesses implement strong eCommerce security protocols in order to safeguard both themselves and their customers against attacks from cyber-criminals.
Security measures for e-commerce that have proven their worth can deter hackers; let's go through a brief overview of e-commerce safety before moving forward.
What is electronic commerce (Ecommerce) security?
eCommerce security guidelines aim to promote secure transactions online. They consist of protocols created to protect people engaged in buying or selling goods and services online, and by adhering to them you can build customer trust. Some basic eCommerce security practices include:
Privacy
Privacy includes preventing activities that could lead to data sharing with third parties. No one should have access to any customer's personal information or account details beyond the online seller they selected.
Sellers who provide access to confidential information breach confidentiality. Online businesses should implement at least minimal measures of data protection, firewalls, and anti-virus to help secure clients' credit card and bank details.
Integrity
Integrity is a cornerstone concept in eCommerce Security, meaning the information shared online by customers should remain unaltered. Businesses using customer data without altering it risk losing the trust of their customer base if any modifications occur - as any alteration could potentially break the trust between both sides of a transaction.
Authentication
For transactions to go smoothly and safely online, both buyer and seller must be genuine - they must be who they claim they are, offering genuine products or services and fulfilling what was promised. Businesses should provide evidence they are real by selling legitimate goods or services and fulfilling what was promised, while customers need to provide identification proof so sellers feel secure with online transactions. To make authentication and identification secure and reliable for both parties involved if needed; hiring an ecommerce solutions expert may help expedite these processes further if you're having difficulties doing it yourself; standard solutions include client login data or credit card PIN numbers which should allow them to secure transactions.
Non-Repudiation
Repudiation means to deny, so non-repudiation is the principle of law that tells parties not to deny what they did in a transaction. Both business and purchaser should complete their part of an eCommerce purchase that they initiated; given its insecure nature, non-repudiation adds another layer of security; confirmation that communications reached intended recipients is also an added layer. Parties involved cannot deny they signed, sent an email, or made purchases.
Top ten ways to bolster data protection during the holiday shopping season
KPMG reports that 19% of consumers will stop shopping at a retailer if there is a breach, while 33% may take an extended break from that store.
Implementing these best practices will enable you to protect the data of your customers, build trust among them, and create a safe online business environment.
Use Payment Gateways With Encryption and Tokenization: For secure transactions, select payment gateways equipped with encryption and tokenization technologies.
Install Secure Sockets Layer (SSL) and Transport Layer Security (TLS) certificates: Implementing SSL on your website in order to encrypt communication between user browsers and servers in order to protect sensitive data such as payment details and login credentials from being intercepted by attackers.
Follow Strong Password Practices: Encourage users to create strong passwords by setting minimum requirements or suggesting complexity for password creation.
Multi-factor authentication is another effective way of strengthening user accounts.
Up-to-date System: Regular updates of CMS, plugins, and themes must also be applied so hackers cannot exploit vulnerabilities that exist in them. To reduce vulnerabilities and ensure a positive experience for customers, you should ensure your ecommerce platform receives timely security patches.
Conduct Security Audits: Involve yourself in conducting comprehensive security audits of your website in order to assess its security status.
Implement Web Application Firewalls (WAFs), to safeguard against potential security vulnerabilities before they're exploited by malicious actors. WAFs offer excellent protection from threats while filtering out suspicious traffic on an ecommerce website. A WAF provides constant protection from attacks such as SQL Injections and Cross-Site Scripting (XSS)
Educate Customers & Employees: Educate employees about secure practices such as not sharing passwords or becoming aware of phishing attacks, while at the same time educating customers and employees regarding secure practices like not sharing passwords or being aware of phishing attempts. Customers should be included in discussions surrounding online security best practices, such as avoiding public Wi-Fi for sensitive transactions and monitoring accounts for signs of unusual activity.
Back up customer data regularly: By implementing automated backup systems can reduce the impact of data breaches. The secure and offsite backup will guarantee the data will be available if there's any system or your ecommerce store is under cyber attack.
Data Protection Laws: In recent years, most of the government has established a data privacy law for instance General Data Protection Regulation and the California Consumer Privacy Act. Keep those laws in mind while executing ecommerce development. Implementing such compliance will ensure you are providing transparency on your privacy issues.
Monitor Suspicious Activity: Be vigilant of suspicious activities such as repeated failed login attempts or unusual shopping patterns. This kind of activity may indicate malicious intent. Implement an intrusion detection system to quickly detect threats and eliminate them.
Final Thoughts
To establish and protect the image of your brand, and create an authentic experience for customers. In order to foster long-term trust with customers, best practices like PCI DSS compliance and SSL encryption must be used as part of an online shopping environment that fosters security. Regular software updates, web application firewalls, and security audits will bolster your ecommerce against cyber threats. Informing customers of security risks and best practices not only empowers them but also demonstrates your dedication to safety. Trustworthiness requires constant vigilance from you as an ecommerce business owner. Customers will appreciate if you prioritize security measures on your website and create an enjoyable shopping experience, encouraging return purchases from them and propelling the growth of your ecommerce company.
