Those who operate online stores or work in digital commerce are probably well-versed in various security risks that can occur on a website. Protecting your company and its customers from these dangers requires proactive measures. In this article, we’ll review some best practices for online store security that will help you sleep better at night.
What Exactly Is E-commerce Security?
The term “e-commerce security” refers to the measures taken by businesses to make sure their online transactions are secure. Each business and its customers stand to gain from this.
Companies can gain customers’ confidence and goodwill by adhering to these standards.
Safety in online transactions is crucial because customers’ home addresses, credit card numbers, and other details are sensitive. Confidence in your company will increase, and potential financial losses due to data breaches will be mitigated.
There is currently an abundance of online shops available to customers, giving them a diverse selection from which to choose. Customers will go elsewhere if they feel their personal information is not secure on your site.
Well, so let’s go through some best practices for e-commerce security.
It Would Be Best If You Always Used A Payment Provider
Never keep your credit cards at home. Always go with a payment processor like Stripe that offers zero risk to you.
Losing an email address is inconvenient, but people are more forgiving if their credit card details are compromised. Some providers will store and manage this information for you even if you are not selling products but rather subscriptions.
This is an essential first step if you’re an early-stage startup without the funds to invest in robust security measures like software and dedicated IT security staff.
Develop Best Practices
The security of personal information is of paramount importance. People familiar with the data privacy concept often fail to appreciate its true worth.
You should learn industry-accepted best practices for protecting your customers’ personal information online. Clearly state your stance on it. It’s not just the customers you’re safeguarding here; you’re also covering your back.
Activate Multi-Factor Authentication
Enabling multi-factor authentication for repeat visitors is a great way to keep your customers safe while they are online. Before making a purchase, all of our customers are required to provide us with either a phone number or an email address so that we can verify their identity.
With this hint, we can monitor the locations and browsers of our visitors. I believe that paying close attention to how users log in can significantly enhance the security of online shopping for consumers worldwide.
Put Fraud-Prevention Measures Into Action
Making good use of antivirus and anti-fraud programmes is essential. When handling the money of others, you should exercise the utmost care to prevent any loss of that money during the transaction.
A data breach is the fastest way to lose customers’ trust, and paying them for their trouble is the fastest way to lose money. If your business operates primarily online, you must prioritise data security.
Sadly, hackers’ methods will only continue to evolve, so you’ll need to do the same. You and your customers can avoid becoming victims with the right fraud prevention tools.
Don’t Rely on Native Security
Most businesses need to take extra precautions beyond what the platform provides. While platforms like Squarespace and WordPress make it simple to launch a website, and platforms like WooCommerce and Shopify simplify opening an online shop, their default security measures leave much to be desired.
While the native security of some of these platforms (like Shopify) is higher than that of others, all of them allow you to add extra layers of protection in the form of security plugins or features from third-party developers. The more unique your security system is, the less vulnerable you and your customers will be.
Suggest Secure Passwords
Customers and workers should take the most elementary security step possible and use strong passwords. A robust password includes a combination of characters, including numbers, symbols, and even case-sensitive variants of letters.
Individuals should also consider using different passwords for each login when creating secure passwords. Most Internet users (52%) admit to reusing passwords across different sites, as found in a recent survey by Google.
Using a password manager is an excellent way to encourage employees to use secure passwords. The hassle of remembering a large set of complex passwords is mitigated, and the risk of reusing passwords on other sites is removed when each password is stored in a safe location.
Use A Layered Approach To Security
Implementing multiple layers of security should be a high priority to ensure the safety of user information. In the absence of multi-layered protections, security will be compromised.
Only the company employees processing a particular transaction must have access to sensitive customer data. If sensitive information were to leak, the consequences for your company’s reputation would be devastating. For both reasons, it’s crucial to put resources into additional security measures (beyond just requiring solid passwords).
What Is Multi-Layered Security?
By now, most of us have heard of multi-factor authentication. The process of signing into a website is one illustration. Users are sent a verification code via text message or email and must enter it into a field.
One more way to verify the identity of the person trying to access the site is for them to download the site’s mobile app and log in through the app. The target is to increase security so that sensitive information is not compromised.
Another helpful component of a multi-layered security architecture is a content delivery network (CDN). This method safeguards data storage by distributing it across a network of servers, making them less vulnerable to DDoS attacks. DDoS attacks are an assault on a website that uses multiple sources to flood it with traffic, making it inaccessible to users and possibly stealing their data.
Why Is Multi-Layered Security So Essential?
A multi-layered security system better protects a company’s internal and external assets. Hackers using stolen passwords will have more difficulty gaining access with each additional precaution. Employees and customers alike will benefit from increased security through multiple layers of protection. The added effort is worthwhile because it boosts the company’s reputation.
Install a Firewall
Firewalls inspect incoming and outgoing data packets and block anything that seems suspicious. Each company’s firewall is customised based on its established policies and procedures for identifying potentially malicious traffic.
Firewalls can protect against attacks like Distributed Denial of Service (DDoS) and SQL injection. SQL injection is a typical cyberattack that involves “injecting” malicious code into a website’s structure to steal data or destroy the database.
Make Use Of A Payment Provider
One of several tools can process your customers’ financial data, and their credit card details will remain secure throughout the process. Do not keep any monetary information about customers on company servers. Providers of such services encrypt their customers’ payment information as an added safeguard against hacking.
Install An SSL Certificate For Https Security
Customer credit card numbers and other financial information are encrypted and protected by an SSL before they are sent from a user’s device to the payment processor.
If you’ve ever seen “Not secure” in the address bar, it means the site you’re visiting isn’t using an SSL. When SSL is used on a website, HTTP becomes HTTPS, the gold standard for web security.
Site visitors may be discouraged if you don’t use an SSL, a security measure. There may even be a pop-up from your browser to inform you that this page isn’t safe to use. A study by John Cabot found that 64% of users leave a site immediately when they see the “Not secure” warning.
SSL and HTTPS are now mandatory in all online transactions to ensure customer safety. Additionally, Google gives more SEO credit to HTTPS sites because they value security.
Keep Your Software And Hardware Up To Date.
When software updates are recommended frequently, and across multiple devices, it’s easy to fall behind. These updates should be prioritised because failing to do so reduces site security.
New user interface features aren’t the only reason for a software update. Updates to the software are frequently released to address security issues. Choose a system that regularly issues updates and bug fixes.
Additionally, consider giving employees a scheduled hour weekly or monthly to devote to downloading new updates, so they don’t feel like it’s cutting into their work hours.
Hold fast to the guidelines set forth by the PCI-DSS, the payment card industry’s data security standard.
Any company that handles credit card data must follow the PCI Data Security Standard (PCI-DSS).
Most of these e-commerce security tips are part of PCI-DSS compliance. The Payment Card Industry Data Security Standard (PCI-DSS) requires many security measures to be in place, such as firewalls, strong passwords, protection of cardholder data, and antivirus programmes. If you follow all the advice on this list, your company should be PCI compliant soon.
The importance of cyber security grows as more businesses move online. A single data breach can cause severe financial harm to customers and irreparable damage to your brand’s reputation. However, maintaining a high level of e-commerce security can help you avoid disaster.
As a first step, check that all employees use robust passwords for all their accounts. One solution is to provide your staff with a password manager that can generate and store strong passwords on their behalf.
Secure yourself and your business with Kaspersky Small Office Security, a digital security suite created specifically for small businesses. Take advantage of flexible security measures that may be tailored to meet the requirements of businesses of varying sizes and structures.