A strong foundation of trust is one of the underpinnings of any successful business. This is especially true in the ecommerce realm. There is something about sending sensitive credit card information into the digital void that can make even the most tech-savvy customer wary. Add to that reluctance the numerous headlines about data breaches that have affected even the richest corporations, and you begin to understand why it is essential to do all you can to protect your ecommerce company from fraud and cybercrime.

What threats do ecommerce companies face?

There are good reasons to implement protocols and practices that optimize the security of your website and actively keep hackers from infringing on your digital perimeters. The most significant threats include the following.

• Denial of service or distributed denial of service (DDoS) attack. This occurs when the criminal uses multiple machines to flood your servers and website. This onslaught of inquiries can take down your entire platform, disrupt sales, and disenchant customers.
• SQL injections. This type of breach involves the accessing of behind-the-scenes information. Malicious code can be injected into your databases or information can be deleted or corrupted.
• Cross-site scripting (XSS) attacks. The end-user is affected when the perpetrator of this type of crime injects malicious scripts into your applications or website.
• Credit card fraud. Often unbeknownst to your customer, their credit cards can be used to make unauthorized purchases. Numbers are often stolen from unsecured websites or gotten through other types of identity theft.
• Malicious bots. Criminals unleash these automated digital workers against your website. Bots can steal product information, customer reviews, and other web content, publishing it elsewhere and lowering your search ranking. Additionally, they can often slow down your website with their frequent visits.

As if these nasty behaviors were not enough, bad actors are constantly working to come up with new ways to steal and corrupt your employee and customer data. Fight back by implementing a robust set of cybersecurity best practices.

1. Obtain and renew SSL certificates.

The secure sockets layer (SSL) is the de facto standard for keeping online transactions safe. It protects all data exchanged between the end-user and your website. Purchasing an SSL certificate provides evidence that a trusted third party has verified the authenticity of your website and attests that your connections are encrypted. Certificates must be renewed or replaced once every two years so that you can prove your payment processing is secure.

2. Be PCI compliant.

The Payment Card Industry Data Security Standard (PCI DSS) was created by financial institutions to ensure that the credit card information businesses collect online is being stored and transmitted securely. Complying with these guidelines is necessary for all ecommerce businesses wishing to ensure that they offer secure card payments to their customers.

3. Let shoppers know that security is a high priority.

Since you work hard to implement the highest standard of security best practices, you should be similarly motivated to inform your customers about what you have done. To that end, prominently display payment trust logos and signals throughout your website, particularly on your checkout pages. Additionally, only collect data that is essential for the transaction.

4. Verify credit card and customer address details before approving a purchase.

Secure ecommerce payment processing helps to minimize the chances of fraud or other digital criminal activity. Taking steps to verify your buyer’s credit card security code and physical address helps to authenticate legitimate purchases and puts up red flags on those transactions that warrant further investigation.

5. Make logging in secure.

One of the most porous gateways into your sensitive systems is found during the customer login process. When their information is not encrypted and authenticated, attackers can steal it and cause all manner of mayhem. To protect both yourself and your online visitors, be sure that you have a secure ecommerce login form that includes multi-factor authentication (MFA). This added security layer requires that customers can only gain access to their online accounts after providing two or more identity verification factors.

6. Restrict employee access.

Did you know that security breaches can be caused by the malicious acts or unintentional mistakes of internal staff members? Ironclad digital safety can only happen when you restrict access to sensitive systems and files to only those workers who need to see them. Furthermore, you need to put a mechanism in place that logs all team member entries into your database. A thorough and clear audit trail enables you to track entries and plug any loopholes should security incidents arise.

7. Outsource payments to secure third parties.

The reality is this: Storing and transmitting financial information leaves you vulnerable to hackers. In the worst-case scenario, a breach can leave you financially liable and cause customers to abandon you. Why not let someone else shoulder the burden by outsourcing your payments to a specialized platform such as PayPal or Authorize.Net.

In addition to these important steps, it is also vital that you create a thorough document that outlines your security best practices and procedures. This is not only useful for informing employees but is also crucial if you need to demonstrate compliance with industry regulations such as the Health Insurance Portability and Accountability Act (HIPAA) or Service Organization Control (SOC) reports.

Putting measures in place to prevent cybercrime and minimize the effects of any incidents that may arise is one of the most intelligent ways to protect both your business and your valued customers. Safeguarding that invaluable trust that you have worked so hard to build will ensure that you can maintain your loyal customer base even during these difficult times.