Date: 24 December 2024
Many customers seek assurance about the security of their data when shopping online. Buyers want to purchase comfortably, knowing their information is safe and their sensitive data doesn't fall into the wrong hands.
eCommerce enterprises are one of the most attacked industries today, and data shows that the losses businesses suffer when encountering a data breach go well into millions.
The alarming rate of cyberattacks many commercial websites have faced has made it necessary to implement state-of-the-art cyber security measures to protect customers' personal identifiable information and boost customer confidence in buying online.
Understanding The Need For Cybersecurity in eCommerce
The impact of eCommerce on the speed and efficiency of online shopping is undeniable. These days, you can hop on a free online store builder and design a fully functional website to sell your products with little to no skill at all. Sadly, the positives of this innovation in the business sector are often overshadowed by the looming danger hackers present.
The e-business industry is projected to reach sales of $6 trillion in 2024, making it a highly appealing prospect for cyber crimes. Without technology to safeguard websites, they are prone to data breaches that can hijack important customer information like home addresses, social security numbers, and PINs.
Data security measures are also directly tied to a business's sales performance; when customers trust that your site is the best store to safeguard their personal information and assets compared to other stores, they are more likely to make purchases with your business.
Typical E-commerce Security Challenges
Fake Duplicate Sites
Cyber fraudsters can create fake duplicates of eCommerce sites. These web pages can look identical to legitimate sites, and customers sometimes cannot tell the difference. These hackers can gain customer card details, obtain money for fake products, and ultimately damage the image of the original company.
Denial-of-Service (DoS) Attacks
This type of cyber attack is usually undertaken to hinder a website's business operations. An attacker floods a target website with illegitimate traffic; this influx of requests slows the websites down and makes them virtually inaccessible to real users.
Insecure Payment Gateways
When an e-business uses weak payment processing gateways, hackers can exploit the weakness in the processing system to expose and steal sensitive customer data.
Essential Security Measures eCommerce Websites Should Have
There are various technologies and features e-commerce owners can integrate into their websites to bolster data security. Still, there are some must-haves that every e-business must implement. They are:
- PCI Compliance
- Obtain a Secure Server Layer (SSL) Certificate
- Powerful Firewalls
- Use Reliable Payment Processing Software
1. PCI Compliance
Your e-business should abide by the PCI standards of the Payment Card Industry Security Standards Council. These regulations protect customer card data and are a requirement for any business that deals with credit card transactions. The 12 PCI-DSS requirements are:
- Installation and maintenance of a firewall to safeguard card data.
- Use of strong passwords
- Encryption of the transmission process of sensitive information and card data
- Updating of antivirus software
- Maintenance of secure applications and systems
- Restriction of cardholder data to "need-to-know" personnel only
- Allocation of unique IDs to users.
- Restriction of physical access to cardholder data
- Keep track of access to data and network resources
- Regular testing of security systems
- Uphold a firm policy with personnel for the security of information
2. Obtain a Secure Server Layer (SSL) Certificate
An SSL certificate is a standard protection technology for security. It is designed to encrypt data inputted by a customer on a website. When a customer sends private data like credit card numbers or passwords, this technology scrambles the information so that only the intended person can decipher and understand it.
This technology makes confidential information unreadable for hackers, preventing them from using the data. Malicious individuals can access and take advantage of vital data without an SSL certificate.
3. Powerful Firewalls
An eCommerce website needs software to filter the traffic entering and leaving the store. Various firewall plugins allow your site to prevent untrusted networks from gaining access to your site.
These Firewalls will only permit trusted traffic and can identify and remove malware that threatens to compromise your network. These firewalls ensure only real users gain access to your website and that cyber attacks like malware, spam, and SQLi cannot reach the website.
4. Use Reliable Payment Processing Software
Robust payment software with advanced encryption techniques ensures that customers' personal information on your website is hack-proof using multi-factor authentication, fraud prevention, and other cutting-edge cyber technology.
Conclusion
It is paramount for your eCommerce website's success to always use security protocols to safeguard company and user data. Hackers constantly evolve their attack methods, but you can protect customer data by implementing measures like data encryption and firewalls. Once user privacy is assured, your platform will grow in customer trust and lead to profits in the long term.
