Even the birds in the trees know that eCommerce is growing and the number of people who shop online is increasing at a steady pace. For instance, eCommerce sales made up for $1.08 trillion in 2013, and in 2018. This number is expected to get close to $2.5 trillion in the foreseeable future.
In the first three months of 2015, people spent $10 billion just by shopping on their mobile devices in the United States alone. A lot of people globally are buying online, and more of them are getting on this bandwagon with each month that passes.
A big problem for eCommerce business owners is that these numbers would be even greater if not for one very understandable fear – the fear for one’s security and privacy when purchasing online.
A recent study conducted by the National Telecommunications and Information Administration in the U.S. showed that around 26% of the people they talked to, avoid buying goods or services online because they are afraid for their security.
Even more, people avoid conducting many financial transactions online for the same reason.
Some people are afraid to shop online, and it is easy to see why. When a company such as Acer cannot adequately protect their online customers, people start to wonder who can?
Acer is only one example, with many multinational corporations losing data on millions of their clients. Simply put, people are worried about their personal information and their credit card details for solid reasons.
What to Do
The good news is that eCommerce business owners can do a few things to secure their operations providing as much security as possible to their end-users.
The first thing to do is to find out which online platforms offers the most about safety features and the integrity of the basic code. Luckily, the majority of the world’s leading eCommerce platforms are extremely secure in their default state.
Since most data breaches happen at the point of sale, it is essential that you secure all transactions that happen on your platform. You will want to make sure your website uses SSL certificates (perhaps even EVSSL) and that the green padlock is clearly visible.
You should also limit the amount of data you keep, especially any sensitive data. Store only the most essential data about your customers and for a limited amount of time, i.e. until the refund and chargeback period expire. Purge your data regularly and make sure there is nothing to steal.
Most experts will also recommend that you require strong passwords from your customers. More complex logins make it far less likely that their passwords will be stolen and that someone will infiltrate your website from the front-end.
Another crucial thing to do is educating your employees about the best practices and how to avoid compromising an entire system.
Everyone who works for you and your company needs to be trained in cybersecurity and any practices they should be avoiding. You should also adopt cybersecurity policies that all the employees are aware of. This is particularly the case if you allow your employees to do some of their work on their own devices.
It goes without saying that you will want everyone involved in the process of keeping our eCommerce website secure. Companies should update security features regularly and take notice of all and any notifications of any suspicious behavior. This means that you will want your hosting company to do regular scans and be serious about the security of your website. If they do not offer this kind of service, you might want to reconsider your choice of web hosts.
In case you run an online marketplace, meaning you only put sellers and buyers together instead of selling stuff directly, you will also want to ensure that everyone gets paid even if someone they deal with does not pay or commits some other kind of fraud. Escrow software is probably the simplest and the most efficient way to accomplish this.
Today, you cannot hope to succeed in the eCommerce arena unless you are ready to provide your customers with the most comprehensive security measures you can afford. Also, remember that your customers need to be aware of the kind of security you are providing for them.