As the world is moving to a more digital-first approach, retailers are jumping on the bandwagon by switching from clunky physical retail stores to augmented online experiences. Protecting your customers is smart business. You should do what you can to minimise the impact of fraudulent orders, charge-backs, and bad debts in your store.
The good news is that there are many ways to protect yourself when it comes to processing information about your customers’ financial information, including bank account details, card data, and more. Here are just a few of them.
Always think before you collect any bit of information
Always think before you collect any bit of information about your customers. There’s no “if”. There’s no “might”. Collecting any bit of information from your customers – and the time, place, and manner in which you do this – leave them vulnerable to a compromise. In this age of ever more complicated hacks, do you really want to risk it? If you are collecting any data whatsoever, you must ensure that you are following the proper GDPR regulations.
Let third-party providers handle credit card information
To reduce the security risk for your customers, do not require them to provide their credit card or any other personal information when they shop with you. You can use a third-party processor who will securely collect customers’ payment information for you.
Use SSL on pages that require customer information
If you are asking for personal information, it’s important to keep that information secure: use SSL on every page that asks for sensitive information (names, addresses, credit card numbers). Switch to HTTPS today, lock down your checkout page and protect sensitive customer data from theft.
Arm your site with additional protection
Stop hackers from causing damage to your site and shoppers. Your visitors are looking for safe places to get what they are looking for. Don’t let them get hacked when they shop with you, don’t let them get compromised. With the right kind of site protection, you can help keep your online business safe from fraud and give your customer confidence with fast response times to their questions.
Encrypt is extremely easy to use. It’s free on a business-to-business level, and customers who shop with you will never even know they’re being protected. Encrypt gives customers full transparency into your security practices, making sure customers feel safe before they shop with you.
Use updated software and solutions
Make sure you are using the latest software and security for your business. The security landscape is continuously evolving, and keeping up with it can be overwhelming. To make sure that your website is always safe, make sure you’re using anti-malware software that’s updated real-time. Do regular scans of your store through various security solutions to ensure you don’t become a victim.
Protect your business
While it is vital that you protect your customers, you must also protect yourself and your business as well. In order to protect your business, make sure you have up to date public liability insurance so that you can protect your business in the event that something happens to one of your customers. This will save you a, no doubt, lengthy and expensive lawsuit.
In the digital age, trust is the biggest differentiator in shopping online. With fraud on the rise and the costs of chargebacks increasing, safeguarding your store and its customers shouldn’t be an afterthought. Use these tips to up your safety game today.