Ecommerce has become the preferred mode of online shopping. In fact, ecommerce sales are expected to reach multiple trillions by the end of 2023 according to Forbes. This rapid growth is no surprise as there’s no other platform that offers such a wide range of products and services in such a convenient manner, but it also means that hackers have been able to develop new strategies for breaking into online stores and stealing sensitive data. As more businesses switch over from traditional brick-and-mortar storefronts, you need to take steps towards enhancing ecommerce security measures so you don’t fall victim to cyber criminals who could potentially cause them irreversible damage.
The Importance of Ecommerce Security
Security is crucial because it helps protect your customers. If you have a secure website, the chances of someone stealing credit card information or personal data are significantly reduced. This can help you avoid costly lawsuits and negative publicity, which could lead to lost sales and even bankruptcy.
Ecommerce security is vital because it helps protect your business. A secure site will make customers feel safe when buying from your store, which means they’re more likely to complete transactions and return for future purchases (and recommend their friends). More sales mean more revenue for both parties involved. You get money from each sale, and the customer gets what they want at an affordable price!
The Current Landscape of Ecommerce Security
Ecommerce is currently in a state of flux. With new AI-backed software that allows fraudsters of all kinds to leverage your security flaws, you are exposed to losing millions in potential revenue.
That isn’t to say everyone is a target. The greater the competition for a niche, the less likely you will end up on the wrong end of a fraudulent attack or friendly chargeback. However, inaction can lead to devastating financial damages. A proactive approach is best with a shield around your business like a multi-layered onion.
As the frequency and sophistication of cyber-attacks continue to rise, your business is at risk. Not only do these attacks target individuals, but they also pose a serious threat to businesses in every industry.
Building Trust and Credibility
A strong brand is the foundation of customer trust. A brand can be a business, a product, or even an individual. The more you build your brand and make it recognizable, the more customers will trust you.
Building trust with customers involves building credibility and being transparent about what you do and why. If there are any issues with their order or delivery times, then let them know as soon as possible so they don’t feel like they’ve been lied to when things go wrong (which happens all too often).
Ecommerce security is critical to that trust factor. The moment your private information or client details are leaked, you will stand on the precipice of ruin. Massive companies with millions in the bank find themselves floundering overnight due to a lack of security measures. Customers don’t want to shop somewhere their information has been leaked.
The good news is this doesn’t take a massive amount of work to complete. With some simplified procedures, you can quickly create a protective shield around your online business.
10 Essential Ecommerce Security Measures to Take Now
01 | Secure Sockets Layer (SSL) Certificate
Your website must have the “https:” at the beginning of the web address. This represents that you have an SSL certificate installed.
02 | Two-Factor Authentication (2FA)
Want your customer’s details to remain secure? Use 2FA, which means having a secondary form of identification beyond a simple password. Usually, an app, text, or email verification.
03 | Regular Software Updates
Always keep all your ecommerce platforms, plugins, and software up to date to address any known security vulnerabilities.
04 | Strong Password Policies
Make sure all your clients, stakeholders, and team members use complex passwords with characters, numbers, and special symbols.
05 | Fraud Detection and Prevention
Utilize fraud detection tools and customized plugins to prevent any fraudulent transactions. This will minimize lost funds due to chargebacks.
06 | Regular Data Backups
Perform regular backups of your ecommerce online business (including all customer data) to ensure quick recovery in case of a security breach or unexpected loss.
07 | Vulnerability Scanning
Be proactive by scheduling regular vulnerability checks and security audits. You can do this with plugins or by hiring a trusted team.
08 | Secure Payment Gateway
Always, always, always use a trusted and reputable payment gateway with additional security measures in place.
09 | Use Security Card Pins
Makes sure all your transactions via credit card include the security pin number for verification purposes.
10 | Learn from Your Mistakes
If you do have a security breach, respond quickly and then review how you can prevent it in the future. Sometimes the best teacher is the mistakes we make with online security.
Integrate Our Customized WooCommerce Plugin
Security is one of the most important aspects of ecommerce. You can have the best marketing copy, product descriptions, and photos in the world, but if you don’t have a secure website, then your sales will suffer.
At OPMC, we provide an advanced Security for WooCommerce plugin that will take care of many of the concerns you may have. You can do everything from blocking certain regions known for fraudulent activity to getting email alerts with a visitor is trying to log in and place too many orders at once.
Our goal is to add additional security to your ecommerce platform, so you have the peace of mind needed to focus on far more important things like building customer relationships and expanding your product offerings.
Wrapping it Up
In the world of ecommerce, security is a constant battle between you and the hackers. You need to stay on top of your game if you want your store to be safe from attack.
You need to be vigilant about new threats and vulnerabilities because as soon as one method gets patched up by developers who know what they’re doing, and there are plenty out there that do, fraudsters will find another way into your site through some other loophole in your system’s defenses.
As you can see, ecommerce security is a significant part of running an online business. With a suitable set of tools and techniques, you can make sure that your store is safeguarded against anything that might go wrong.
The last thing you want is for malicious actors to steal customer information or destroy vital data on their way out through the door!
