5 E-Commerce Security Strategies to Prevent Fraud

person making online purchase

By 2021, e-commerce is expected to be the largest retail channel in the world. Unless you have been living under a rock for the past decade, you are familiar with just how popular online stores are. Modern consumers love being able to find and buy the things they want with the click of a button.

Starting an e-commerce website is a great way for an entrepreneur to make money with very little overhead. The main thing you should focus on when developing an e-commerce website is security.

With the right e-commerce security tools in place, keeping hackers at bay will be easy. The last thing you want is for your site to be compromised due to a lack of security. Not only will this cause you to lose business, but it can also tarnish your reputation.

Read below to find out about some of the things you can do to keep your e-commerce site safe and secure.

1. Selecting the Right E-Commerce Platform

Building an e-commerce website from scratch can be extremely challenging. One of the best ways to reduce the time and energy invested in this process is by using one of the many e-commerce building platforms online. These platforms allow even novice designers to bring their vision of the perfect e-commerce to life.

With all of the different e-commerce platforms on the market, you will have to do some research to find the right one. The main thing you should consider when choosing a platform is the security features they have in place.

Many of the top e-commerce platforms, like Shopify and Highwire, have a wealth of security features to offer. These features are designed to help business owners keep their e-commerce investment secure and compliant.

2. Maintaining PCI Compliance

While most business professionals have heard the term “PCI compliance” thrown around, many of them fail to realize what this term actually is. The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements e-commerce providers need to adhere to. These requirements are in place to ensure that a secure online environment is maintained for websites that store or transmit credit card information.

When an e-commerce website is PCI compliant, it will offer proactive protection to their customers regarding the data they put onto the site. Failing to comply with the strict standards of PCI can lead to your business being fined heavily.

Doing things like changing factory default passwords and establishing a firewall are just some of the things you need to do to stay PCI compliant. You will also need to devise a safe and secure system for storing the credit card numbers of your customers.

3. Educating Your Team About the Importance of Cyber-Security

As your e-commerce business begins to grow, you will have to hire more employees to lighten the workload. While getting new team members is beneficial, it can also pose a number of problems when it comes to e-commerce security.

Educating your team about common cyber-security threats and how to avoid them can help to keep your e-commerce site safe. Providing comprehensive and updated information about new online threats will allow you to mitigate these risks.

Showing recognition to employees who work hard to stay on the cutting edge of cyber-security is also a good idea. Providing these team members with awards can help keep morale and productivity levels high. If you are interested in getting custom glass awards for your team, you can learn more here.

4. Find E-Commerce Security Problems With Routine Audits

The biggest mistake you can make as an online business owner is setting and forgetting your e-commerce website. As time goes by, the tools and safeguards you have in place may become outdated. The best way to find and address e-commerce security concerns is by auditing and testing the site.

With the help of an IT professional, you can perform both load and penetration tests on your website. The penetration test involves running a number of simulations to see how well-guarded the site is. If vulnerabilities are found during this testing, you need to work on addressing them right away.

Doing things like routinely changing the password on your web server control panel can also be helpful. If you have money in your budget, you may also want to consider hiring an IT company to monitor your website. By investing in professional monitoring, you can identify security concerns before they create disastrous situations.

5. Avoid Storing Sensitive Information or Transactional Data

The less sensitive information you store on your website servers, the easier your life will ultimately be. There are a number of PCI standards that forbid companies from storing credit card numbers and a bevy of other sensitive information.

If your e-commerce business features monthly billing, then there are PCI-compliant options for this practice. However, you need to avoid storing a customer’s CVV2 codes to avoid problems. Working with an IT professional that knows all about PCI compliance and cyber-security can be extremely beneficial.

Before choosing an IT professional to work with, be sure to do your homework. Hiring a company that has a great deal of e-commerce security experience can be helpful. With this professional assistance, keeping your site safe and secure will be a breeze.

An Ongoing Process

The main thing you need to realize about e-commerce security is that it is an ongoing process. The methods used by cyber-criminals to infiltrate these sites changes on a regular basis.

Are you looking for more information on how to make your e-commerce website functional and safe? If so, check out our article on how to choose the best web hosting.