E-commerce Security 101: What You Should Know
The skyrocketing popularity of e-commerce has increased alongside the frequency and sophistication of cybersecurity threats. While brick-and-mortar stores had to contend with physical security threats such as break-ins, robberies, and theft, online retailers have to protect themselves against viruses, hacking, spyware, and phishing.
Cyberattacks necessitate e-commerce security. Here are the fundamentals of what it entails.
Privacy
In this context, privacy refers to preventing information from getting into the hands of unauthorized third parties.
The personal details and account information your customers enter when shopping online should be inaccessible to everyone except you and the customers themselves. In order for sensitive information such as bank and credit card details to remain private, businesses should implement encryption, virus protection, and set up a firewall.
Authentication
In order to avoid fraudulent transactions, both the seller and the buyer need to be verifiable. For the seller to feel secure about the sale, the buyer needs to provide proof of identification. Likewise, there will be no selling unless the business is real and its products are real.
Many businesses hire experts to authenticate the information customers enter on the website. Some of the more common authentication measures include buyer logins, passwords, and/or credit card PINs.
Integrity
In e-commerce security terms, integrity is the principle that any information the customer shares online will remain unaltered. A secure transaction necessitates unaltered data.
The business should only use exactly what was entered by the customer. In other words, businesses aren’t allowed to tamper with the information.
Non-Repudiation
For a successful transaction to take place, neither party can deny their involvement in the transaction. Legally speaking, non-repudiation adds a level of security because it confirms that the information shared between the two parties was received, and the purchase was made.
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