Businesses play a colossal role in protecting sensitive online data. A strict attachment to consumer data security protocols and fraud detection can increase trust. Not only will these efforts protect data and earnings but they will ease customers’ fear of mishandled or embezzle data.
Time and space barriers have been overcome thanks to the widespread use ofthe Internet. The number of transactions and stores offering their goods on theInternet is increasing every year. Trade has been largely transferred to theweb, introducing modern businesses to virtual reality. Unfortunately, these newperspectives are also accompanied by new challenges, the largest of which arebuilding trust and ensuring data security on the network.
Running an online store is not that as easy as it may look from theoutside. It is not enough to take care of logistics, conversion and customers,but you also need to know what cyber security is and how to protect your storeagainst fraud and hackers. For many eCommerce owners, cyber security may seemso complicated that they underestimate security issues – and that may cause alot of trouble! Why is it so?
You can even lose business continuity when a hacker blocks store servers,or expose your customers when a cybercriminal steals users’ personalinformation. However, online threats are not limited to malware and scams.Cybercriminals know that the more online operations performed, the greater therisk of disclosing private information. There are many different methods thatcan be used to invade user privacy. These are: phishing, internet scams, spam,malicious URLs, etc.
A sense of security &trust
One of the main conditions for maintaining the current pace of e-commercedevelopment is increasing public confidence in this convenient form ofexchanging goods and services. This cannot be achieved without ensuring maximumsecurity in all processes related to e-shopping. Research shows that 52% ofInternet users have left the website which they think is dangerous at leastonce, 87% of them said they would not have done it if she had a trustedcertificate. The lack of security of the site, and thus the resignation fromshopping, puts the real loss of the owner of the online store.
Online store customers like to have a wide selection of payment methods.It’s clear. Among other things, that’s why they make transactions online. Theyalso like to have a choice in terms of the settlement form. The paymentoperator thoroughly verifies all stores using the system, so that the buyer canbe sure that the store really exists. Fortunately, in the era of hugepopularity of e-commerce, stores that do not use payment systems are incrediblyrare. However, if there is something on the site that raises doubts, and inaddition the store does not have a payment operator implemented, the customershould definitely light up a red lamp. This can be a signal that the site isnot verified in any way, and the lack of other methods of finalizing thepurchase than a traditional transfer will make it more difficult for them torecover money in case of trouble. Payments supposed to be secured by the newestcertificates like SSL (Secure Socket Layer) or #D-Secure service.
And even more Responsibilities
Since May 2018, a new regulation on the protection of personal data (GDPR)has been in force, which imposes, among the other things, a number ofobligations related to the collection, processing and protection of personaldata. Entrepreneurs not only have to inform customers what personal data theycollect, how they process it and why they do it, but also they must ensure thatall collected data is accessible and changeable. This requires store owners to developappropriate procedures.
Protect your own business
Businesses play a colossal role in protecting sensitive online data. Astrict attachment to consumer data security protocols and fraud detection canincrease trust. Not only will these efforts protect data and earnings but theywill ease customers’ fear of mishandled or embezzle data.