eCommerce security has never been more critical for online businesses as each day seemingly brings new stories about cybersecurity threats like phishing, DDoS attacks, website hacks, and more.
Your customer won’t hesitate to go to another website if they have the slightest feelings of insecurity during transactions, which will lead to a loss of revenue for the business.
Therefore, retailers should employ rock-solid eCommerce security protocols and measures to keep the business and customers free from attacks. We will discuss a few eCommerce threats and actions that can keep the hackers away but before that, let’s brush up our understanding of e-commerce security a little.
What is eCommerce Security?
The concept of cybersecurity is referring to as eCommerce security, and it allows secure online electronic transactions. In recent years, the rate of online shopping increases, and so the importance of eCommerce security increases among retailers, shoppers, and customers. eCommerce security provides security for all the parties involved, and within this secure framework, people are allowed to buy and sell products and services online.
Why is eCommerce Security So Important?
When it comes to safeguarding the finances of an online business, protecting the privacy and sensitive data of customers on a website, defending the reputation of an online store as a safe place to conduct transactions, and preventing fraud and financial scams, eCommerce site security is critical for several reasons, specifically.
Online merchants and customers are at serious threat for payment fraud, scams, data breaches, and other significant threats when the necessary security features aren’t implemented on a website. If your customers feel safe buying from you, you can better gain your customers’ trust better is one of the significant benefits of implementing eCommerce security.
Customers’ privacy and integrity also ensure when the right security measures are put in place on your website. Even without their knowledge or approval, none of the information they share online will be used in any way.
Additionally, ecommerce security breaches have a negative impact on the site’s reputation apart from a detrimental effect on a business’s finances. If customers’ privacy and sensitive data is at risk, they won’t be willing to recommend your store to others, no matter how loyal a business’ customers might be.
According to the Cisco 2017 Annual Cybersecurity Report, among organizations that experience attacks, 29% lost revenue, and as many as 38% lose more than 20% of their total revenue.
What are Top 5 eCommerce Security Threats?
Here we include few common cybersecurity threats, but apart from these below-mentioned threats, there are many which thrive and pose severe threats for online businesses.
Fraudulent emails purportedly come from your business but are sent by scammers to your customers. The threat is your customers may incorrectly click on the links contained within. Your business name is used, the customers are reluctant, and it may lead to malicious pages where their passwords, usernames, and payment info are fraudulently obtained.
2. DDoS Attack
DDoS stands for “Distributed Denial of Service,” and this attack prevents customers from using your website. By overwhelming it with traffic from a malicious source, it makes your website completely inaccessible.
The attackers insert a malicious code of their own called malware when they access a given website. This will latch on to site visitors and target any sensitive data and personal information they might have on their devices.
4. Trojan Horses
To swipe sensitive information from computers and mobile devices of their targets, attackers use these programs. Attackers are allowed to steal sensitive and private data if unknowingly anyone downloads these seemingly-harmless programs.
5. SQL Injections
Through query submission forms, this threat comes. The attackers can steal the website’s data by injecting malicious code into the database.
Ransomware, financial fraud, spam, bots, brute force attacks – are the other threats you should be wary of.
Top 8 eCommerce Security Solutions to Protect Your Website
In addition to using the most secure eCommerce platform available, there are several solutions available to protect your business and its online shoppers. We mentioned a few of them!
1. Consistent eCommerce Software Updates
To minimize any vulnerabilities to viruses and malware, consistently upgrade your store’s software from the updates issued by the software providers.
2. CVV Verification
CVV stands for Card Verification Value, a unique 3 or 4 digit code printed on each credit card’s back. Many online fraudsters don’t come with CVV. Having CVV verification on your site adds a security layer and makes it difficult for fraudulent transactions to go undetected.
3. Switch to HTTPS Protocols
Make sure that you have updated HTTPS protocols to avoid breaching. You can protect the sensitive user information entered on your website by using HTTPS.
4. Address Verification System
This security measure helps you differentiate fraudulent transactions from legitimate transactions by comparing the billing address being entered by a customer with the address mentioned in his credit card file.
5. Secure Admin Panels and Servers
Avoid using the default passwords from the eCommerce platforms to make your website more secure. Always use unique usernames and set up your website security so that you will be immediately reported if any unknown IP attempts to log in.
6. Use Firewalls
With the installation of firewalls on your site, you can regulate the type of traffic in and out of your website.
7. Payment Gateway Security
To minimize the risk, use third-party payment processing gateways like PayPal, Skrill, and others. You have to obtain PCI DSS (Payment Card Industry Data Security Standard) accreditation.
8. Back-Up Data Frequently
Taking back up all your critical data is the final thing. Saved and easily accessible data can help get your online store back up and running fast if your site gets hacked or targeted by scammers.
How does Salesforce deal with eCommerce security threats?
Customer privacy is the #1 priority for Salesforce. So, to respond to the rising needs of different industries, Salesforce Shield is a signal of Salesforce’s willingness to keep their customer first. Beyond adding more robust security capabilities to the platform, Salesforce Shield is a critical piece of the platform. From security, transparency, and governance across the business-critical apps to enormously strengthen trust, compliance, Salesforce Shield empowers enterprise clients with all the points and clicks.
Shield enables administrators and security professionals to monitor user adoption, tune end-user experiences and optimize performance, and security across apps, by providing visibility into security, user behavior, and application performance. In Salesforce, you can gain insight into your employee’s behavior inside your cloud applications with a user activity monitoring feature. For example, using this feature, you can detect suspicious activity like attempt login, login from multiple devices, who is the user from a particular IP address.
For Internet security available today, Salesforce utilizes some of the most advanced technology. Secure Socket Layer (SSL) technology protects your information using server authentication and data encryption when you access the Salesforce-powered site using a supported web browser.
Take expert help from a Salesforce Partner like ETG Global Services to learn more about maintaining eCommerce Security.
About ETG Digital
ETG is a Salesforce Strategic partner. Headquartered in Plano, Texas, ETG is ISO 9001:2015 certified company with a global delivery center in Hyderabad, India. We have a dedicated team serving the business worldwide from multiple locations in the US, Canada, UAE, UK, Australia, and India. Over the last two decades, we have been dedicated to customer success through leveraging emerging technologies. We provide customized and tailor-made solutions for retailers starting their eCommerce journey.
Drop us a note firstname.lastname@example.org to start your digital transformation journey.