Entrepreneurs are jumping onto the ecommerce bandwagon in droves, and for good reason. Unlike a brick and mortar business, you can run your eCommerce business any time during the day. A strong eCommerce business could result in excellent profits and afford you the lifestyle that you’ve always dreamed of. However, ecommerce sites are vulnerable to fraudulent activity, which could wreak havoc on your American dream. In order to avoid an entrepreneurial nightmare, we’ve included some tips that help you protect your ecommerce business from fraud.
Use an Established and Reputable ecommerce Platform
Established eCommerce platforms offer risk management support and have an excellent reputation with the businesses that they work for. Additionally, such platforms offer fraud protection tools as a further measure of protection for your ecommerce site. Here are some excellent eCommerce platforms:
- Shopify
- Big Commerce
- WooCommerce
Constantly Update Your Platform and Software
Most people with smartphones have to periodically update their systems so that their phones will work more efficiently. However, updates also keep their phones protected against the latest bugs and other malware on the market. The same measures are effective for your ecommerce platform and for your software. Your ecommerce platform should have software specialists that help to protect against fraudulent activity. By updating your software, you are protecting your ecommerce store from hackers and other types of fraudulent activity.
Regularly Update Your Passwords
First of all, you want to create a strong password for the saftey your ecommerce site. Your password needs to contain a combination of upper and lower case letters as well as some numbers and symbols. Additionally, you will want to regularly change your password to ensure that hackers cannot break into your account.
Follow PCI Compliance
PCI compliance is short for the Payment Card Industry’s Data Standard. Basically, this refers to the requirements and the industry standards for online merchants as well as for their consumers. PCI protects both the online merchant and the consumer from fraud and privacy infringements. Not only will you protect yourself and your client by remaining PCI compliant, but you will also avoid fines and penalties as well.
Use Strong SSL Authentication
For online protection, we highly recommend a strong SSl authentication. What on earth does this mean? SSL refers to a Secure Sockets Layer, and this certification ensures customers that your site is safe to make online purchases. SSL certification protects your customers from getting their credit card information stolen.
Do NOT Store Credit Card Information
In order to remain PCI compliant, you CANNOT store credit card information. Make sure that the only data that you store is enough for chargebacks and refunds.
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