For the first time in history, shoppers are spending more money online than in brick-and-mortar retail stores. According to non-adjusted estimates from the U.S. Department of Commerce, online sales continue to show steady year-on-year growth – last years web sales were in excess of $342 billion, accounting for more than a third of the total retail sales growth that year.
Considering the figures, it’s unsurprising that more retailers and small businesses are looking to break into online sales. The potential for increased income from a thriving virtual marketplace is not without new threats, however. Because even a single breach of a companys data security has the potential to ruin a thriving business, adopting cybersecurity measures is critical.
Here are five steps to help you get started.
1. Use a Secure Ecommerce Platform
Any business owner looking to start an online store requires an ecommerce platform, which is a software technology solution for creating and hosting a digital storefront a means of offering goods for sale and accepting payment via the internet. Outdated platforms are security risks that business owners can combat via the use of a reliable platform that they monitor regularly. These platforms arent necessarily cheap, so do your research and make sure the cost is something you can incur. Just remember security is key for many online shoppers, who are becoming more wary of sites that dont take data security seriously.
2. Move to HTTPS
Secure Sockets Layer (SSL) establishes an encrypted link between a web server and a browser. When a site uses Hypertext Transfer Protocol (HTTP) over SSL aka HTTPS it improves security by using an added layer of encryption that prevents hackers from easily accessing transmitted data, according to CIO. Sensitive information, such as names, addresses and credit card details, remain secure and private, which is ideal, according to the Small Business Administration (SBA).
3. Meet the Industry Standard for Credit Card Transactions
Any company that accepts credit card payments should aim to be PCI compliant, the SBA advises. The Payment Card Industry Security Standards Council is the administrative body behind the PCI standard, which exists to control cardholder data and reduce credit card fraud. The compliance requirement basics are to:
- Maintain a secure network
- Protect cardholder information
- Manage vulnerabilities with antivirus software and secure systems
- Implement strong access controls
- Maintain an information security policy
Validation of compliance is annual, but its better to regularly take stock of IT assets and business processes. The most straightforward option, particularly for small businesses, is to host data securely with a PCI-compliant hosting provider.
4. Make User Passwords Tough for Hackers to Guess
It’s possible to make a system even more secure by requiring clients to create complex, robust passwords. According to the United States Computer Emergency Readiness Team (US-CERT), good passwords include a combination of uppercase and lowercase letters, numbers and special characters and exclude personal information and real words. Longer passwords are more secure than shorter ones because there are more characters to guess, US-CERT says.
5. Backing Up Data
Businesses can patch their software regularly, use a firewall and carefully monitor website activity, but hackers are constantly adapting to security measures and finding ways to circumvent robust systems. Companies should do everything possible to protect clients, and that includes planning for the worst-case scenario. Regular backups of websites and critical data are important parts of maintaining a protected system, helping to minimize the impact of a security breach. Be sure to have disaster recovery plans and well-trained staff members who understand the importance of the security measures in operation.
With thoughtful preparation, it’s possible for companies to provide secure shopping environments for customers while building a reputation for reliability a recipe for success in the ecommerce world.
