In 2022, companies lost $41 billion due to e-commerce fraud. Fraud and security are major concerns for businesses, primarily because you’re not only expected to lose money but also to lose customers. When a customer does business with you, they’re not just paying for goods. Rather, a single transaction starts a long-term customer relationship built on trust.

This relationship of mutual trust stands tall for every customer who’s buying from the business, with customers providing essential data that helps make decisions. But only storing this data isn’t a measure of success. What’s more important is to be able to protect it. 

Today, we’ll address the elephant in the room, as we unlock the secret to strengthening the security of your e-commerce website against hackers and security breaches. 

We’ll talk about: 

1. Using SSL certificates.

2. Using strong passwords.

3. Adding e-commerce security plugins.

4. Providing security for payment gateways.

5. Monitoring suspicious activities. 

6. Employing best security practices. 

7. Maintaining PCI compliance. 

But first, let’s understand what types of customer data do e-commerce businesses safeguard. 

Types of Customer Data Guarded by E-Commerce Businesses

E-commerce businesses process thousands of transactions every day. When a customer goes through the entire purchase process, they provide lots of data on different points of the purchase journey. 

Commonly, customers provide data such as: 

1. Name: This includes basic information such as first name, middle name, and last name. 
2. Location: This includes your address and current pin location.
3. Payment details: This could include your credit/debit card details and your bank account details. 
4. Product taste and preferences: This is a complete overview of your past purchases and the products that you have repeatedly purchased from the business. 

Guarding this data is crucial, as it comes in handy for businesses, and is personal information of the customers. 

Now, let’s go back and focus on the ten security techniques to help secure your e-commerce website. 

7 Tips to Secure Your E-Commerce Website

1. Using SSL certificates

In 2023, 82.9% of websites were using SSL certificates, which was 18.5% above as compared to the previous five years. What is an SSL certificate?

The word SSL stands for security socket layer. An SSL certificate enables the website to use HTTPS, which is more secure than the HTTP protocol. 

So, how do SSL certificates work? 

SSL certificates include a single data file which includes: 

1. A domain name for which the certificate was issued. 

2. The person, organization, or device to which it was issued. 

3. The name of the certificate authority who issued it. 

4. The expiry date of the certificate. 

5. The public key.

The SSL certificate encrypts all information, ensuring that it is only visible from one endpoint to the other. 

2. Using a strong password

According to explodingtopics.com, 30% of internet users have experienced a data breach because of a weak password. So, when keeping a password for your website, make sure that it‘s not easy enough for anyone to understand. To create a strong password, make sure to: 

1. Do not include your personal information.

2. Make the password long. 

3. Make use of special characters. 

4. Not reuse your password in some other place. 

3. Adding e-commerce security plugins

Another way to enhance security for your e-commerce website is by adding an e-commerce security plugin. Top e-commerce security plugins include: 

1. Vault Press.

2. Google Authenticator

3. Astra Web Security

4. WPS Scan 

5. Hide my WP

Use these e-commerce plugins to make your website more secure. 

4. Providing security for payment gateways

According to stats from PR Newswire, 69% of digital payment users are concerned with security breaches. Your payment gateway has extremely confidential information about your customer’s mode of payment, such as bank account details, and credit/debit card information. If hackers get their hands on this information, it can be highly detrimental to your business. 

You can protect your payment gateway by: 

1. Testing your payment gateway API. 

2. Procure a reliable payment gateway. 

3. Implement strong authentication and authorization for your gateway, such as OTPs and multi-factor authentication. 

4. Encrypt and tokenize data that is stored within your payment gateway. 

5. Monitor and regularly update your payment gateway. 

5. Monitoring suspicious activities

Monitoring and logging suspicious activities is equally important to perceive threats. So, make sure to maintain continuous logs to apprehend threats right on point. Therefore, continuously check your logs for any security breaches that you might find. 

6. Employee best security practices

Security for your e-commerce website isn’t just about adding security plugins, two-factor authentication, and choosing a hard password. It’s also about debriefing your employees about the best security practices that they should follow. So, provide employees with training about Phishing attacks through emails, and best data security practices. 

7. Maintaining PCI compliance

PCI compliance means that an organization complies with the payment cards industry standards. Adhering to these standards is important for the security of your e-commerce website. 

1. PCI compliance involves building and maintaining a secure network.

2. Protecting cardholder data. 

3. Implementing strong access control measures. 

4. Regularly monitoring and testing your security networks. 

5. Maintaining a comprehensive information security policy. 

So, these were the seven best practices for the security of your e-commerce website in 2024. Now, let’s recap what we learned throughout the blog. 

The Ending Note

E-commerce continues to flourish, but with this growth comes the ever-present threat of cybercrime. By prioritizing security for your e-commerce websites and implementing the strategies outlined in this blog, you can create a haven for your customers and foster long-term trust in your brand.

By following these recommendations and staying informed, you can ensure your e-commerce website remains a secure platform for your customers and a thriving channel for your business. This extended conclusion emphasizes the ongoing nature of security, provides valuable resources, and leaves the reader with a sense of empowerment to take control of their website’s safety.