The 7 Critical Components of E-Commerce Security
As more and more brick-and-mortar retailers move their businesses online, the question of e-commerce security becomes ever more critical. What security features do you need to safely sell products online?
The customer purchase funnel presents too many opportunities for security breaches.
Think about it – at every step of the customer’s purchase process, how many opportunities are there for identity theft, data breaches, or scamming attempts? In a brick-and-mortar location, you can test cash with a counterfeit pen or check an ID against a credit card. Online, however, you have to trust your security procedures to protect your customers – and your business.
E-commerce security breaks down to seven critical components:
- Payment encryption
- Personal data security
- Multi-factor authentication
- Customer communication
- Malware and ransomware protection
- Phishing and e-skimming protection
- Security compliance
So, how can you best protect your online business from security threats?
Start by encrypting payment information for secure transactions.
Most e-commerce platforms like Shopify, BigCommerce, Magento, and WooCommerce offer built-in encryption services to protect credit card numbers, bank information, and other transactional data.
Secure personal data with locked-down customer profiles.
Payment information isn’t the only data to encrypt: Customer information like shipping addresses and contact info should be treated with the same respect. One of the best ways to protect your customers’ personal information is to require strong passwords for every account.
Guarantee you are who you say you are with multi-factor authentication.
This goes both ways, for the business and for the customer. Multi-factor authentication, like verification codes and security calls, keeps up legitimacy between the business owner and the customer.
For example, in addition to a username and password, protect your customers’ online accounts by requiring an SMS or voice call verification code every time they log in to your site from a new device.
Keep clear lines of communication open about customer security policies.
If you run an online business, it’s critical to communicate clearly with your customers about their security. For example, Amazon and other online retail bigwigs have clear security policies that state when their representatives will reach out for customer-specific data – and more importantly, when they won’t.
Take this security note from BigCommerce, for example: “BigCommerce will never send you an email with a link to update your store or your login credentials. If you receive an email, phone call, or text from ‘BigCommerce’ in which personal information is requested, contact customer support directly for validation.”
Protect your business from malware and ransomware attacks.
Locking down your business data with regular backups, suspicious file quarantine, and other security services is critical to maintaining an online presence. Remote monitoring and management (RMM) is one of the best ways to protect an e-commerce business. Through RMM, your managed service provider can identify and deal with threats before they ever pose a risk to your business/
Safeguard your website from phishing and e-skimming.
E-commerce targeted phishing scams are becoming more and more common. Recently, we helped a client lock down their business’s Amazon account after a scammer, posing as an Amazon representative, tried to access the client’s bank account and credit card information.
E-commerce businesses should also be aware of e-skimming, a type of cybersecurity attack that targets credit card and other payment information as it’s entered on a website. A successful phishing attack can give hackers control of your website, transaction data, and transaction process, installing keyloggers or other malicious software to steal customer data from your website.
Keep up with security compliance to legitimize your online business.
Finally, make sure your online business is staying current with local and international compliance laws. Stay up to date on online updates like switching to HTTPS security protocols, Payment Card Industry Data Security Standards (PCI DSS), and data security requirements from the International Organization for Standardization (ISO).
Pro tip: We just threw a lot of industry-specific abbreviations at you there, so if you’re not sure how to get started with dotting your ISOs and crossing your SQLs, we’re here to help.
For established online retailers and brick-and-mortar sellers going digital, Grand Technology Solutions is here to help. Contact us today at (904) 606-6011 or info@helpgts.com to see how we can boost your online business!
