E-commerce market is growing, and cyber threats are evolving. It is increasing the risk of the online store’s safety resulting in data breaches, financial loss, reputation damage, and customer trust.
In 2019, Macy’s, a department store giant, became a significant data breach victim. The wallet and checkout pages of Macy’s online store have an unauthorized code added by hackers. The code is intended to capture sensitive customer data submitted on these pages. Such as names, addresses, and credit and debit card details.
The Company identified and removed the code. But hackers stole a small amount of customer data before that. Volusion, which is also a popular eCommerce platform reported a data breach at the same time. After their Google Cloud environment was breached, over 6,500 stores were infected with skimmer codes. Payment information was stolen as a result of this attack. Magecart is known for specializing in digital credit card skimming.
Cyber threats are evolving with more complexity and strength for eCommerce businesses. Securing your online store from cyber attacks is essential. We will discuss a few useful ecommerce strategies in this post. Boost online security and make online shopping safer for your customers.
1. Implement HTTPS through SSL Certificate
Securing your sensitive data between the website and users is a primary step for ecommerce security. SSL certificates are necessary for online businesses and websites. It ensures secure communication between the server and the user. It shows your website’s identity and encrypts the information sent to a server. The encryption process transforms the data into scrambled data (unreadable data). The secure socket layer uses advanced encryption algorithms and cryptographic techniques. It ensures your online security and prevents the chances of data breaches.
Today, SSL certificates are widely used for online security; 86.1% of websites employ this technology. Look at the following image for reference.
Usage Statistics of Default protocol https for Websites, August 2024
Websites without SSL certificates show a security warning as ‘Not Secure’. It can impact your customer’s trust, and business reputation, and affect your sales. Hence, using an SSL certificate from a trusted CA and implementing https is a primary need for all ecommerce stores. It secures transactions and maintains customer trust.
2. Use a Secure eCommerce Platform
In today’s expanding world, having an online presence is crucial for brands. Choosing the right eCommerce platform for your business needs is like building a safe home. Several platforms, like Magento, WooCommerce, and Shopify, are constructed with strong security features. Such eCommerce platforms follow a set of strict security guidelines which are designed to protect customer data.
Furthermore, they also defend against online risks like data stealing and DDoS attacks. When a business selects a strong and secure system for its online store, it protects the business from possible dangers and builds customer’s trust in your brand. It is an initial step for creating a secure and reliable online shopping store.
3. Regular Software Updates and Patching
New security updates patch vulnerabilities and launch new fixes. Outdated software invites hackers as they constantly scout for opportunities to strike. Regular software updates and patches are essential for your eCommerce store’s safety as they help fill these gaps.
Ignoring software updates is like opening your store’s door for hackers. It applies also to third-party apps and plugins that your store uses. Updating your software is similar to staying ahead of the curve in terms of cyber security. It strengthens the security of your store and provides a barrier against online attacks.
4. Two-Factor Authentication (2FA)
Two-factor authentication acts as a secondary lock to your store’s accounts. 2FA identifies users through two separate methods before accessing accounts. It involves entering a password and a unique code delivered to your mobile number or email. 2FA process strengthens security by making it difficult for hackers to interrupt, even if they manage to crack the password. Applying 2FA only takes a few easy steps, and it strengthens your online security.
5. Secure Payment Gateway
Online stores are dependable on payment processing systems for secure online payments. It ensures the safety of sensitive information like debit and credit card numbers. Other secure payment gateways are PayPal, Stripe, and Wise. Secure gateways go through strict checks of all the security standards.ย It also safeguards customer’s financial data and builds trust for your ecommerce store.
6. Employ Network Security Measures
Protecting your store from cyber threats needs strong network security. It involves implementing firewalls to block unauthorized access and employing an intrusion detection system to monitor suspicious activities. Encrypting sensitive data maintains your stores’ safety. A clear response plan for security breaches can defend your store’s sensitive information. Taking these steps can help you prevent cyber-attacks and minimize any security issues’ impact. It ensures your store remains secure and trustworthy for customers.
7. Regular Security Audits
Regular security audits are like checking up on the health of your online store. It helps identify vulnerabilities and fix them before hackers can take advantage of them. Audit report includes penetration testing (which checks your store’s defense system), vulnerability scanning (it finds any weak spots), and security assessments (which review your overall security). Using a professional service to conduct regular audits is beneficial. It brings in expertise to detect potential issues and recommend necessary solutions.
8. Data Backup and Recovery Plan
Every eCommerce store must have a data backup and recovery strategy. Despite all the security measures, data breaches can still happen. Having a secure backup plan allows you to restore your stores’ data. Maintaining regular backups can reduce the chance of data loss and save your data in the event of technical difficulties or cyberattacks.
At the same time, having a well-defined recovery plan is also important. It outlines the steps to take in a data breach. Effectively mitigating damage and ensuring seamless business continuity. By implementing these practices, businesses can safeguard their data and recover from potential cyber attacks.
9. Employee Training and Awareness
Human errors can be a vulnerable point in ecommerce security. Employees should also know basic cyber security measures it is a crucial step for your security strategy. All staff members need to be well-informed about cyber threats, like phishing attacks and they should know the significance of using strong passwords and following secure practices. Regular training can ensure that everyone is involved in the ecommerce store and contributes to its security.
10. Monitor and Limit Access
Controlling who can handle your store’s sensitive data is necessary for your security. Manage access controls to restrict data handling to authorized persons only. Regularly manage permissions to ensure that employees only have access to the data they need. Monitor user activity to spot any unusual behavior or attempts to access restricted information. Reviewing and adjusting access levels can help you reduce the risk of internal threats and accidental data leaks. It enhances your store’s overall security.
Conclusion
Securing your ecommerce store from cyber threats is important for your brand trust. Having a strong cyber security strategy can help you in data breaches and store safety. Implementing HTTPS, and SSL certificates, choosing a secure ecommerce platform, and popular payment gateways can help you increase the security of your store. Also, applying network security measures, and conducting frequent security audits can maintain your store’s security and integrity. Taking these steps will prevent financial loss and increase customer trust in your brand. As the digital environment is changing, staying alert and updated as per security guidelines will help you ensure your eCommerce stores’ security.
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