E-commerce has become very popular in recent times. In 2018, approximately 1.8 billion people all around the globe shopped online. Interestingly, around 62% of these buyers purchase online on a monthly basis. Taking your business online has so many advantages. You can reach out to people all around the world, that is, there are so many potential customers.
However, according to Forbes, 7% of Europeans have not adopted online purchasing due to safety concerns. An e-commerce security mishap will definitely lead to a loss of customers. Therefore, security ought to be one of your biggest priorities if you own an e-commerce store.
Let’s review some methods you can adopt to keep your e-commerce customers safe.
Ways to Keep E-commerce Customers Safe
1) Install an SSL Certificate
An SSL Certificate guarantees that sensitive data of the customers and employees, like credit card information, is sent across the internet in encrypted form. It makes accessing sensitive information a tedious task for hackers. An added benefit is that websites with an SSL certification rank better and get more online traffic.
As multiple vendors are there to offer SSL certificates carrying different types of SSL certificates, it is hard to choose the best SSL for your site. For example, if the site has too many subdomains pertaining to the main domain, then the cheapest wildcard SSL is the best fit for the site. You need to consider your budget and site requirements while choosing an SSL certificate.
2) Verify Your Customers
So many types of security threats are prevalent these days. Identity theft and credit card frauds are among many such threats that e-commerce stores have to face. To prevent them, it is important to verify the customers. Here are a few ways you can do that.
1. Use AVS to Detect Fraud Orders
Address Verification Service (AVS) compares the address of the credit card holder and the address provided by the customer. It helps in identifying scams and frauds. Install an Address Verification System on your store to keep a tap on the fraudulent purchases.
2. Secure Payments with CVV
Card Verification Value (CVV) is a unique three or four-digit number printed on credit cards. You can make it compulsory for the customers to enter the CVV when they are paying using credit cards. This way, you can ensure the customer is the cardholder. Often hackers extract credit card numbers off the internet. However, they cannot use these for purchasing from your e-commerce store, if you ask for the CVV.
3. Analyze Purchase History
Maintain a log containing all the purchases made by customers from your e-commerce. Analyze this log for any suspicious activities. Look out for inconsistent billing shipping information, frequent returns & cancellations, etc. Focus on huge, regular transactions.
3) Enhance Security
Get the latest Software and Applications to secure your e-commerce website. Install an effective firewall and malware scanners.
Instead of installing separate tools for each function, you can simply buy a Security Plugin
4) Alert Customers of Fake Websites and Apps
Oftentimes, scammers make fake websites and applications to resemble the original reputed brand. What happens is that people end up using the fake platform for purchasing and enter their sensitive information, like credit card credentials. The scammers use this information to withdraw large sums of money.
In 2019, a 23-year-old was arrested for creating a fake website similar to the e-commerce website Amazon.
5) Become PCI Compliant
This article gives you an idea of what all you can do to keep your e-commerce customers safe.
Unlike the other points listed, becoming PCI compliant is mandatory if you intend to receive credit card payments. A council comprising major credit card companies from all over the world came together to establish a set of guidelines called PCI DSS (Payment card Council data security standards). The purpose of the PCI DSS is to prevent credit card fraud.
E-commerce stores are gaining more popularity day by day. It is a very promising business sector. The most important thing to keep in mind while running an e-commerce store is customer safety. We advise you to book a website security audit to make your business 100% secure.
A security breach or a data leak can ruin your enterprise. Before such an unfortunate incident can occur, it is best to prepare your company and your customers. Therefore, it is necessary to adopt certain security measures.