Since eCommerce businesses carry a significant amount of customer Personal Identifiable Information (PII), crooks often attempt to infiltrate their databases. This is why you should never skimp on your cybersecurity! Data breach losses average around $150 per lost record, so compromising just 1,000 documents would set you back by $150,000.
The best way to protect your customers is to use payment processors with updated SSL certificates. This technology plays a crucial role in eCommerce cybersecurity. They prevent in-transit data from leaking and block external threats like hackers. Moreover, SSL certificates apply across various online payment methods, from credit cards to mobile wallets.
Apart from choosing processors with SSL certificates, here are several best practices to bolster your checkout process:
Overall, the key to maintaining a secure checkout process is to partner with a suitable processor. You don’t necessarily need a commercial institution with front- and back-end processing services, but at least strive for a reputable, well-known processor.
Also, consider investing in third-party cybersecurity measures as your business expands. They might cost quite a bit, but protection against cyberattacks is invaluable when scaling any eCommerce business.
Do you find yourself on the fence between online and traditional payments? Processing Card can help you reach a decision! Check out our in-depth piece on payment processing to learn about the pros and cons of online payments.
Florence Carpenter is passionate about ensuring that the process of opening merchant accounts is as straightforward as possible. She graduated from the University of Michigan with a bachelor’s degree in Marketing.
