Tag Archives: online shopping transactions

How to Safeguard Online Shopping Transactions

Security should be a top priority for every online entrepreneur with a shopping cart or an e-commerce ambition.  Giving shoppers confidence that their credit-card information and personal details will be safe in your hands can make them more apt to make a purchase and become a regular customer. Conversely, shoppers’ deep-seated worries about fraud mean that if you give them reason for concern, they could back out of a purchase and stay away for good.

Security precautions also can save you money — and maybe even preserveOnline Shopping Transactions Credit Card your business. The costs of a hack can be steep if credit-card information is stolen and you are at fault. Not only could you face huge clean-up expenses, angry customers and scary lawsuits, you also would likely face the wrath of the credit-card companies, which require merchants to abide by what’s known as the Payment Card Industry (PCI) Data Security Standard. The card companies could fine you, force you to undergo expensive security audits or even bar you from accepting any plastic. (Note: image used courtesy of Image: phanlop88.)

To both instill customer confidence and avoid the horrors of a data breach, experts say a locked down shopping cart system is essential. What’s more, that system should not store any cardholder data. Hacks of these complex software programs are common, and you are a target even if you’re tiny. For example, more than 80 percent of card data compromises investigated by Visa affect merchants that process fewer than 20,000 transactions a year.