How to Ensure Ecommerce Security for your Buyers & Merchants?

Safety and Security for e-commerce business are very important.  It is not just keeping the business secure; ecommerce security affects individual customer experience and also the life and image of a brand.  If you own an ecommerce business and are selling products online through social media, or a marketplace or through your own web store, it is very important for you to know more about ecommerce security and how it needs to be managed to ensure ecommerce security for your buyers and merchants.

Ecommerce Security

Also Read- 6 Questions You Should Ask Before Starting Ecommerce Business

What do you mean by Ecommerce Security?

Ecommerce security is the principles which assist in undertaking safe electronic transactions, making buying and selling online safe. They are protocols which offer safety for all the parties involved in any transaction. Click To Tweet The success of an online business depends immensely on the trust the customer has on the company and its ecommerce security.

4 Basics of Ecommerce Security

Privacy

The most obvious is the need for privacy in ecommerce security. Privacy in a transaction means that the information collected should not be shared with unauthorized parties. Any disclosure of your personal information or transaction information by the seller will result in a breach of confidentiality. The website is expected to provide virus protection, minimum encryption to keep the banking or credit card details private and secure.

Integrity

The second most important basics of ecommerce security are integrity. Integrity means that none of the information provided by the buyer will be altered or changed without their knowledge. Tampering information results in breaking the buyer’s confidence in both the company and its transaction security.

Authentication

For a genuine trade to happen, both the buyer and seller need to show their real identity to each other. A buyer needs to provide proof of identification, so that the seller is assured that the sale is genuine and the buyer is real. Use of customer login, password, OTP, pins, etc ensures the authentication of the transaction.

Non-repudiation

Repudiation means denial to complete the deal. A successful and genuine business is dependent on both the buyer and seller completing their part of the deal and not denying the actions. The legal principle of non-repudiation takes ecommerce security to a higher level, as it confirms the information shared between the parties.

Customers who are not comfortable and confident about online transactions due to lack of security will never buy online.  This hesitation and doubt in the mind of a consumer are detrimental to an ecommerce business. Hence it is important for any ecommerce business to follow the above-mentioned basics of ecommerce security to make the consumer feel safe and secure about the transaction.

Some strategies to ensure ecommerce security of your buyers and merchants

1. Secure Web Environment

The platform which you select for your online business will determine the security of your website. It is advisable to choose a well-known platform which has a good proven ecommerce security track record.

After selecting the platform, ensure to customize the settings according to your business needs. Customize with additional plugins or tools for enhancing security.

It is important to have a secure admin panel preferably which is available only on your internal network. Opt for secondary authentication, especially for open source environments which can be targeted easily. Understand the importance of server safety.

Secondary authentication is a good idea, especially for open-source environments that are susceptible to frequent cyber-attacks and threats.

Server-side safety is very important. If you are selling on marketplaces or different social media, the chances are high that you are hacked. Hence it is very crucial to use passwords which are difficult to hack and keep all the customer interactions online private and secure.

2. Installing Firewalls and  increasing layers of Security

Installing Firewalls

Application gateways are the checkpoint of your network and use of proxy firewalls ensures complete security, making it impossible for any outsider to access your network. Firewalls need to be configured manually to allow good and genuine traffic to pass.  Aggressive firewalls, can restrict and cut out important traffic, impacting the end user experience.

Adding additional layers of security to any applications and page scripts can be very useful. It is advisable to mention the parameters clearly, preventing hackers from inserting harmful codes or virus in your website.

3. Regular Updates

It is very important for any website to be update regularly. Regular updates ensure proper website functioning, along with maintaining its safety. Keep the auto-updates on, so that your website is up to date with all recent updates. It is better to get rid of unwanted and old plugins, as they are insecure.

It is important to update the SSL certificates, as they expire after a period and need to be renewed regularly.

Also Read- 15 Elements of Your Mobile Checkout That Need Improvement

4. Regular backups

In case of some mishap or some unforeseen event, backups can save you from losing important data.

Taking backups is not the end of the problem, you need to regularly test it to ensure that the backup is complete and can be retrieved.

Most websites have suffered huge losses as their backups were incomplete or did not support complete website recovery.

A perfect backup covers all assets of a website including everything.

5. Reduce the number of Bad Bots

What are bots? They crawl across the web looking to steal personal information like prices, product information etc. They also can insert malware on to your website, causing it to malfunction. Bots are important for search engine indexing, hence you cannot block them completely from your site. However, you can try to reduce the number of bad bots accessing your website, to maintain the ecommerce security.

You can restrict the number of bots accessing the website in a number of ways:

  • Applying a limit on the number of user requests allowed on your website.
  • Implementing an alert system which can inform you immediately of any suspicious activity.
  • Conducting real-time analytics helps in identifying suspicious patterns and behaviours.

6. Payment Security

Storing credit card and payment details of your customers is a very crucial and responsible task, hence it is important that you have a complete secure payment system. One should use suitable encryptions and enable SSL certificates.

To reduce the risk of fraudulent transactions, it is advised to always verify the card and address details of the customer.

7. Data Management

Storing and managing customer data is a huge task and a great responsibility. It is very important to understand the importance of privacy for a customer. You need to ensure that you and your complete staff including third-party contractors, understand the importance of data protection.

Don’t store any unwanted data. If you deleting records or getting rid of data, make sure you follow industry best practices and it doesn’t get into the hands of wrong people.

Integrating your transactions with mobile payments to improve the security and convenience of the consumer.

It is important that a website has a solid data recovery and disaster plan. Planning to save data or information after being hit by a crisis is of no use, one needs to ready for the worst-case situation in ecommerce security.

Also Read- Ecommerce Channel Conflict: Ways to avoid and manage it

Final thoughts

Opting for the highest level of ecommerce security may seem to be the right approach, however, in case your firewalls or filters are very strong, you may end up spoiling the customer experience. Click To Tweet

You may end up blocking out genuine traffic to your website.

Though it is true that there is no foolproof solution for such problems, however, a number of high-end security software is available that can meet your needs.  Let your ecommerce security specialist find the best solution that addresses your specific solution.

Remember if you have a secure website, you will have a secure and safe business.

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