Ecommerce is a thriving business platform during this modern age. The growing availability and affordability of electronic devices all over the world have made eCommerce widely accessible to many businesses and consumers. The accelerating speeds of Internet connections have made online transactions a fast, convenient alternative to face-to-face transactions.
However, the burgeoning popularity of eCommerce has also increased the need for better cyber security measures. After all, online transactions commonly require buyers to share personal and financial data over the Internet, while sellers are granted access to this information. It’s understandable if organizations and individuals are hesitant about parting with these details because they are worried that this sensitive data may be misused or shared with others.
If you are a company that offers products and services to other businesses, you need to take concrete steps to safeguard your customer’s information. Your clients need to know that you prioritize their privacy and confidentiality so that they will feel comfortable sharing their data with you.
Continue reading to discover how you can protect your customer’s eCommerce information in practical ways. Learn what you need to beware of during online transactions. Finally, find out how hiring an IT specialist can boost the cyber security of your company.
What Is Ecommerce Information?
Ecommerce is defined as a type of business where companies sell products and services online which are purchased by customers. It is also known as electronic commerce. Ecommerce transactions commonly take place over smartphones, tablets, computers, and other gadgets.
Ecommerce information refers to the data which customers share during the transaction process. Some examples of eCommerce information are the full name, delivery address, phone number, and credit card details of consumers.
Investopedia explains that eCommerce business is mainly conducted in the following four market segments:
- Business-to-business (B2B): Direct sales transactions of products and services between businesses
- Business-to-consumer (B2C): Sales transactions where businesses offer products and services to customers
- Consumer-to-consumer: Sales transactions between individuals who offer products and services to each other directly or via third-party apps or websites
- Consumer-to-business: Sales transactions where individuals offer products and services to businesses
The focus of this post is B2B transactions. Keep reading to find out how you can safeguard the information that your B2B clients transmit to you during your online business interactions.
5 Ways To Protect Your Customer’s Ecommerce Info
Follow these tips to protect the personal and financial data that your B2B customers share with you during eCommerce transactions.
1. Increase the Online Security of Your Ecommerce Website
Make sure to implement essential security measures to improve the safety of your business website. Here are some online tools and protocols that can help you enhance the security of your site:
Hypertext transfer protocol secure (HTTPS) refers to the protocol which transmits information between a website and a browser. Your business website is set to Hypertext Transfer Protocol (HTTP) by default when you first set it up. However, HTTP does not include the necessary encryption which means that anybody can view your site information.
Most businesses take precautionary measures so they prefer to browse websites with HTTPS protocols instead of HTTP. They are likely to avoid your website if its address remains HTTP.
Utilize the HTTPS protocol to increase the chances of business customers visiting your website. Once you activate HTTPS, a tiny lock icon will show up next to your URL. This symbol will assure your B2B customers that it is safe to explore your website because you are using a secure connection.
The information that is inputted by your B2B clients during eCommerce deals is sent via multiple computers and servers. Use an SSL certificate that encrypts the data as it passes through the servers so that other parties cannot read it. By minimizing the possibility of an information breach, the sensitive data of your customers will remain confidential.
You must install a firewall because your business website will encounter abundant incoming and outgoing traffic due to eCommerce transactions. A firewall is described as a network security system that functions as a gateway between different networks. It allows secure connections to enter, while it prevents dangerous traffic from passing through.
Forbes recommends two types of firewalls for eCommerce websites:
- Proxy Firewalls: This network security system can filter messages at the application layer.
- Application Gateways: This firewall keeps your network safe from external sources. It only permits authorized information to be transmitted.
Be careful to configure your firewall properly during the setup process so that you can avoid online threats to your business site.
2. Request for Essential Data Only
When you create eCommerce forms for your business website, make sure to include only the minimal information fields that you will need to fulfill the online transactions. Gather essential information only from your B2B customers.
Some companies request extraneous information from their clients so that they can build a comprehensive database. While these databases may come in handy someday, they can also increase the risk of compromising your customers’ details in case of a data breach.
3. Empower B2B Customers To Keep Your Website Safe
Consider your clients as partners in your cyber security efforts. Entrepreneur advises that you instruct customers on how to pinpoint suspicious behavior on your eCommerce website and how they can reach you so they can inform you about it. Be transparent about explaining the reason why you are asking for specific information and how you plan to use it.
4. Strengthen Your Password Requirements
Do not settle for simple passwords from your B2B customers because they can easily be hacked or guessed by other parties. Make sure to require strong passwords from your clients to avoid security issues. Request customers to use a combination of lowercase letters, uppercase letters, numbers, and symbols when creating passwords for your business website.
5. Tighten Your Control on Internal Systems
Be aware that internal leaks and attacks may potentially happen in any company, including yours. That’s why you must perform regular internal assessments to figure out which leaders and employees have access to which type of information. Ensure that the access of every team member is only limited to the data that he or she needs for the tasks required for his or her job.
3 Things To Beware of in Ecommerce Transactions
Avoid the following online threats to maintain a secure eCommerce environment for the sake of your B2B customers.
Phishing is described as a type of cybercrime where an impersonator pretends to be a real company to trick customers into providing personal data, credit card details, banking information, and account passwords. It could result in financial loss and identity theft on the part of customers. It usually takes place via imitation websites, counterfeit emails, and fake text messages.
Encourage your B2B clients to steer clear of phishing by keeping them updated about your legitimate contact information and communication channels.
Malware is a popular term for malicious software. This software is typically installed in the computer system of your company through phishing or hacking techniques.
Malware can harm your internal system by limiting your access to accounts, opening pop-up advertisements, and causing your system to slow down or crash. It can also potentially give external parties access to confidential information about your company.
Minimize or avoid malware in the workplace to avoid compromising customer data by limiting email downloads from external sources. Install corporate antivirus programs in your company computers as well to detect potential malware threats.
E-skimming is a form of cybercrime that involves the theft of credit card details and personal information from payment card processing pages. It records the payment data that buyers input on the checkout page of the website. Malicious parties may unknowingly gain access to your eCommerce site through phishing and other forms of online attacks.
Circumvent e-skimming by hiring a competent IT firm to strengthen the online security of your business website and internal system.
Safeguard Your B2B Customer’s Ecommerce Information With the Help of a Cyber Security Firm
Ecommerce is a dynamic business platform that allows your business to reach new heights during this modern age. It makes it possible for you to expand your sphere of influence by reaching out to customers beyond your immediate vicinity. It enables you to grow your company exponentially by increasing your sales and profits.
Still, to be realistic, setting up and maintaining an eCommerce website also comes with its online safety risks. You must increase your B2B customers’ trust in your company if you are determined to remain competitive in the eCommerce market. You must assure your customers that you are doing your best to safeguard the information they have entrusted to you.
It is a smart idea for you to enlist the help of an IT firm to level up the cyber security of your eCommerce system. Connect with us today to find out how we can assist you to protect your customer’s eCommerce data in an effective, efficient way.