Top 10 Online Payment Security Measures You Need To Expand Ecommerce Sales?
1 Answer
1. Install an SSL Certificate
You can never be sure who can access your information whenever you are on the Internet. Cyber intruders use brute force, MITM attacks to gain access, leading to loss of data. A Secure Sockets Layer (SSL) certificate is one way to improve security as it secures information travelling online between the server and the browser. You will find many options in the market at different prices. However, you will need to compare features and prices before choosing an SSL certificate. Even if you opt for a SAN SSL certificate, make sure it has the relevant infrastructure to help protect your website.
2. Choose the Right Processor
When you are working on an online platform, you must have a processor that will allow you to collect credit card payments. It is necessary that you select the right one. Some factors you need to consider are whether they comply with required standards such as Payment Card Industry Data Security Standards (PCI DSS). The guideline should also have very strong customer support and implement measures such as vulnerability assessment and refunds in case of any fraud.
3. Limit Access
You should be careful about whom you give access to your online platform. It is important to note that many leaks come from within the organization. Limit the number of employees who can make changes to your online store and set different roles and responsibilities for each person. When someone with access leaves the organization, make sure you have blocked access to your site.
4. Encrypt and Tokenize
Encrypting process where you convert data into an encoded message that only the intended recipient will understand. Anyone who tries to access the information will need a private key, making it a handy tool when you're dealing with very sensitive data like credit or debit card information, login details.
Tokenizing will allow you to convert the data into a combination of random characters, which in case of a violation will make no sense to anyone. This is a very effective way to reduce the amount of data you have to store while working on an online platform.
5. PCI-DSS Compliance
You must comply with the rules and regulations of the payment card industry data protection standards. This is an industry requirement for anyone collecting, storing or handling any customer data. This is necessary to ensure security when handling payments or any other form of information from cyber attacks.
6. Update Your Operating System Regularly
You should keep updating your software so that you can reduce your vulnerability to any viruses or methods used by hackers. Developers work hard to ensure that they roll out the latest software featuring the latest security measures. So it only makes sense that you take advantage of any updates as hackers are also working doubly hard to reach your side.
7. Correct Password Is Important
Statistics show that 80% of online attacks are caused by theft or weak passwords. Therefore, you should make sure that the password is strong. Your password must contain at least eight characters consisting of a combination of uppercase and lowercase letters, symbols and numbers. Never share your password and avoid using the same password for any site that requires login. Install a password manager and avoid using personal details such as birthdays, anniversaries, etc.
8. Beware of any suspicious activity
It is essential that you are very curious about the activities happening on your online platform. Certain activities should immediately arouse your suspicions. This involves using multiple credit cards from one IP address or account. Also keep track of large orders that require fast shipping, among others, too many orders within a very short time frame using a credit card.
9. Two-factor or multi-factor authentication
Two-factor authentication will make it very difficult for anyone to gain access to your online store. It provides an additional layer of security and is simple and cost-effective to implement. The system will require the customer to confirm his identity using two different factors. The first would ideally be the user's password, and the second step in the authentication process could be a security token or fingerprint that only they know the answer to. Your customers will love the fact that you are taking their data security seriously and will be eager to give you only the information you need for two-factor authentication.
10. Collect only essential information and use a third party to store it
It is essential that when you are collecting customer information, you only take what is necessary. Some online stores ask their customers to store their credentials or payment details for a faster checkout process next time.
