Many stores may be closed, but people still have important purchases to make. Online shopping has made its way into everyone’s everyday life… which means more people are at risk of unsecured purchases.
Taking payments online can make your company more vulnerable to cyberattacks targeting you, your customers or your employees.
This isn’t to say we should be afraid of selling online or making purchases. To protect ourselves, we need to learn the risks and the most secure ways to take and make online payments.
The Cybersecurity Risks of Taking Online Payments
We’ve talked a lot about how cybercrime is more prevalent than most people think. If online payments can expose cybersecurity vulnerabilities on a normal day, imagine the ramifications during an economic crisis.
Your customers shouldn’t be afraid of making online payments. If you’re cautious about your methods of accepting payments (and show it), you don’t have to worry about financial or reputation damages.
How to Take Online Payments Securely
Only use secure e-Commerce platforms
Your in-house, legacy eCommerce platform might not be secure enough for the times we live in now. If you’re feeling uncertain about it, it might be time to consider researching and investing in more trusted, third-party platforms like Shopify or WooCommerce.
If you’re already using a third-party eCommerce provider, investigate what extra security measures they’re taking at this time.
Use multi-factor authentication
Multi-factor authentication adds a layer of security with another step in your identity verification. This procedure most often works by sending a one-time verification code to your smartphone or asking for a fingerprint scan.
Having MFA set up on all your logins (even your social media accounts) ensures that every login—and every purchase and along with your confidential, financial information—stays secure.
Delete customer payment data
Keep customer information safe from cyber thieves by deleting customer data that you don’t need anymore. If it’s gone, there’s nothing to steal; if you need to keep customer payment data for a recurring subscription or other reasons, keep it stored on a private server.
Ensure PCI Compliance
The PCI DSS is the Payment Card Industry Data Security Standard. Think of it as universal law for online transaction safety. Established by corporations like Visa and Mastercard, PCI must be complied with so that online payments are protected from breaches and theft of cardholder data.
Visit the PCI Security Standards Council website to learn the full list of standards.
Purchase an SSL Certificate
A website is only truly secure if it has an SSL (Security Sockets Layer) certificate. SSL is a seal of approval that tells search engines your website is safe to browse. SSL Certificates are purchased and issued a Certificate Authority, ensuring your website can be trusted for eCommerce.
Today’s savvy online customers will make a beeline to your competitors if they see that your site isn’t a safe place to make purchases.
Update, update, update your systems
This piece of advice comes up all the time when we talk about cybersecurity, and for good reasons. When you’re not running the latest version of your operating system and applications, you leave dangerous gaps in your security. Keep your antivirus and anti-spyware software updated, too, to stay privy to potential threats.
Secure your business data
To help you breathe easier about the potential risks of eCommerce right now, managed cybersecurity services protect your information with secure storage through cloud-based hosting.
CBM provides a comprehensive, customizable suite of IT solutions. With managed IT services, IT support, and technology consulting, we can help you secure your data, remove IT roadblocks, ensure user satisfaction and improve your bottom-line. Find out more here.