The busy shopping season may be behind us, but that doesn’t mean cybercriminals have put their malicious activity to rest. As we enter the New Year, it’s important to ensure your website and online payment solutions are as safe and secure as possible.
Since the roll out of EMV chip cards, cybercrime has skyrocketed. Though EMV chip cards reduce the risk of fraud for in-store purchases, they don’t protect shoppers for card-not-present transactions. As a business owner, cybersecurity should be a top priority to protect not just your business, but also your customers. At the very least, letting sensitive data fall into the wrong hands can damage your band’s reputation. If you run an ecommerce store, here are some simple ways you can provide a safe and secure online shopping experience for your customers.
Maintain Up-to-date Software
Cybercriminals have sophisticated tools that allow them to scan thousands of websites in search of vulnerabilities. Make sure your computer software, operating system and web browser are always up-to-date to avoid falling victim to an attack. Uninstall software and plugins that you no longer use. Install anti-malware software to detect threats and enable automatic updates to keep your systems up-to-date.
Encrypt Your Website
Your login and payment pages should use SSL encryption, which allows sensitive data like login and payment information to be submitted securely. Since the data is encrypted, cybercriminals can’t access your customer’s private information. Some ecommerce platforms, such as Shopify, use SSL encryption on every web page. This means your customers can stay safe from hackers and securely browse your online store on all pages.
Enable Two-Step Authentication
When users log onto your website, they must prove who they are by logging into their account with a username and password. Two-factor verification takes security a step further by requiring users to submit an additional component of identification, such as a temporary verification code. With this, your website sends the user the code via text or email when they try to log on. If a criminal were to obtain a customer’s username and password, they would not be able to login without access to the person’s mobile device or email account.
Implement a Strong Password Policy
Consumers often use simple passwords that are easy for them to remember, and many even reuse the same password for multiple accounts. This makes it easier for hackers to steal their information and gain access to all of those accounts. Implement a strong password policy to ensure your customers’ login credentials are more difficult to detect. Require your customers to use passwords that are long and contain a combination of uppercase and lowercase letters, numbers and symbols. Also encourage your users to change their passwords every few months for added protection. The same policy should be applied to your organization and its employees too.
Use Secure Payment Processing Solutions
Your merchant account solutions should be integrated with advanced risk management features to optimize the security of your online payments. Two important security features are Address Verification Services (AVS) and Card Verification Code (CVC), which help ensure secure payments. AVS verifies that the credit card and address information submitted by the customer matches the information the issuing bank has on file. A CVC service requires customers to enter the three- or four-digital code printed on their credit card. This reduces the risk of fraud because the CVC is not stored or printed on receipts, so someone cannot access to it unless the card is in their physical possession.
With this advice, you can increase the security of your website and online payments and better protect your business and customers.
