{"id":13837,"date":"2023-11-29T11:34:47","date_gmt":"2023-11-29T11:34:47","guid":{"rendered":"https:\/\/intexsoft.com\/?post_type=blog&p=13837"},"modified":"2023-11-29T11:42:04","modified_gmt":"2023-11-29T11:42:04","slug":"payment-security-in-e-commerce","status":"publish","type":"blog","link":"https:\/\/intexsoft.com\/blog\/payment-security-in-e-commerce\/","title":{"rendered":"7 Options to Make e-Commerce Payments Secure for Business"},"content":{"rendered":"
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November 29, 2023 \u2022 by \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tMargarita \n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t

7 Options to Make e-Commerce Payments Secure for Business<\/h1>\n\t\t\t\t\t\t\t\t\t\t
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This post delves into seven effective options to bolster online payment security. By implementing these strategies, businesses can strengthen their ability to accept online payments from customers through credit cards while safeguarding sensitive data. These security measures positively impact your bottom line and reputation.<\/p>\n

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Payment security in e-Commerce<\/strong> is a more relevant issue in 2023 than ever.<\/span><\/p>\n

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Since online purchases are often associated with ecommerce fraud, it’s imperative to prioritize addressing data storage challenges. Payment fraud poses a continuous security risk, always lurking around the corner. Therefore, online merchants must maintain constant vigilance, considering all potential avenues of identity theft to protect customers and ensure the security of each ecommerce website. Failing to do so may result in implementing superficial security measures, leaving vulnerabilities that competitors are more than willing to exploit for their advantage.<\/span><\/p>\n

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As per a study by DataProt<\/a>, an astonishing “88% of adept hackers can infiltrate an organization’s defenses within a brief 12-hour window”.<\/em><\/span><\/p>\n

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If you want to maintain control of online payment security, use different elements of eCommerce payment security, for example, secure payment gateway and implementing two factor authentication. <\/span><\/p>\n

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In this post, IntexSoft<\/a> will elaborate on these aspects of payment systems and more. You will discover the best security practices and find answers to the central question: “How can additional measures elevate your ecommerce payment security to a new level?”<\/span><\/p>\n\n\t\t<\/div>\n\t<\/section>\n\n\n\n

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Do You Need An E-commerce Developer?<\/h3>\n\t\t\t\t\t\t\t\t\t\t\t\t\t
Speed up your online store development and cut the overall project costs<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tSee more<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t\t\"image\"\n\t\t\t<\/picture>\n\t\t<\/div>\n\t<\/section>\n\n\n
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What does payment security entail?<\/span><\/h2>\n

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Ecommerce security refers to the various measures and technologies businesses use to keep sensitive payment information safe when you monitor transactions. These steps are like a protective shield, ensuring that your payment details are kept secure and that no one can access payment systems without robust customer authentication.<\/span><\/p>\n

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The importance of payment security in e commerce<\/span><\/h2>\n

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In ecommerce, payment security ensures businesses are protected from fraud while verifying a user’s identity online.<\/span><\/p>\n

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But occasionally, security breaches can throw curve balls at your online store. According to figures published by Cyber Angel\u2019s report<\/a>, more than 70 billion exposed files were detected (including financial & sensitive information). And that’s when you might need assistance. This point is where security practices can make a significant difference, addressing the financial and legal penalties that often arise. You can be proactive and foresee such challenges. To prevent security breaches, you, as an online store owner, can adopt the best security practices, which we will learn in the next section.<\/span><\/p>\n

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Let\u2019s get into it right now!<\/span><\/p>\n

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Top 7 payment security practices to elevate ecommerce payment security<\/span><\/h2>\n

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\n1. Robust passwords and two-step verification<\/span><\/h3>\n

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Strong passwords and two factor authentication (2FA) are fundamental security measures.<\/span><\/p>\n

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Elaborate passwords serve as the initial layer of protection against unauthorized entry to your online shop. Here’s why they matter:<\/span><\/p>\n

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Benefits of robust passwords<\/span><\/strong><\/p>\n

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Avoiding brute force attacks<\/span><\/strong><\/td>\n <\/p>\n

Hackers often attempt to crack passwords in payment systems using automated tools that try different combinations. Make these attacks significantly more challenging not least of all \u2013 due to complex passwords. Mix uppercase, lowercase, numbers, and symbols. Use longer passwords (at least 12 characters).<\/span><\/p>\n

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Safeguarding customer data<\/span><\/strong><\/td>\n <\/p>\n

Your online store likely collects sensitive customer data, such as payment details and personal info. A breach could lead to financial and reputational damage. Strong passwords aid in averting unauthorized entry to this valuable information.<\/span><\/p>\n

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Defending against unauthorized changes<\/span><\/strong><\/td>\n <\/p>\n

A compromised admin account could allow malicious individuals to make unauthorized changes to your website, affecting its functionality or appearance. With robust passwords only authorized personnel can make modifications.<\/span><\/p>\n

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While strong passwords are an important aspect of ecommerce security, they can’t guarantee 100 percent protection from attacks. That’s why the next wise decision is to utilize 2FA.<\/span><\/p>\n

Two-factor authentication\u2019s benefits<\/span><\/strong><\/p>\n

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An extra level of ecommerce security<\/span><\/strong><\/td>\n <\/p>\n

2FA demands customers to furnish two types of identification as a prerequisite for accessing an account. This commonly entails knowledge-based information (password), and information depends on a specific mobile device or authentication app.<\/span><\/p>\n

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Defense against pilfered login information<\/strong><\/span><\/td>\n <\/p>\n

In this context, a unique code is the crucial element for accessing an account, which can only be generated on a mobile app. Hence, even if a hacker acquires the correct password, they still require this additional code, acting as a safeguard.<\/span> This approach helps you avoid appearing careless or irresponsible and showcases your foresight as a business owner. The truth is additional security measures against stolen credentials are never superfluous.<\/span><\/p>\n

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Enhanced trust<\/span><\/strong><\/td>\n <\/p>\n

Implementing 2FA demonstrates a commitment to ecommerce security. Users are more likely to feel safe and share payment data and make transactions on your platform.<\/span><\/p>\n

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Implementing 2FA:<\/span><\/p>\n

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