5 Ways How Online Retailers Can Protect Their Customers’ Data
As online retail sees constant development, it is no doubt that data protection becomes essential for all e-commerce stores. Let us discuss how online retailers can protect their customers.
Data became a valuable marketing tool. However, hackers value them as well. Data breaches have made customers worried about their data privacy. According to a recent survey, conducted by McKinsey, trust ratings for data protection don’t reach even 50 percent for any industry. Healthcare and financial services have the highest ratings — 44 percent. Retail is trusted even less — only 18 percent. Therefore, it will require many efforts to build your customers’ trust. How can you achieve that?
1.Collect only the information you need
Gather only data you will use such as the customer’s e-mail or phone number. There is no need to collect and store customer credit card information because it may become a target for hackers and damage the retailer’s reputation in case of a cyberattack. Make sure that your website is compliant with Payment Card Industry Data Security Standards (PCI DSS). These standards are developed by the PCI Standards Council and contain a set of objectives, requirements, and procedures.
2.Keep your encryption tools up to date
Use strong encryption to protect your data. PCI Standards Council recommends retailers to ask their vendors whether your payment terminal encryption is done via a Point-to-Point Encryption solution. If you are launching a new website, make sure that your shopping cart provider is using proper encryption.
3.Take care about mobile apps security
Focusing on mobile apps security is also very important. Apps become increasingly popular in online retail so every security breach can cause many problems for customers. Set up security code on apps and use mobile payment integrations that follow the PCI DSS standards. Update your software all the time, installing the latest versions of security patches.
4.Monitor third-party services
Traditionally, online retailers send questionnaires or conduct penetration tests. Continuous monitoring solutions such as BitSight Security Ratings can also be helpful. These ratings are based on externally observable data gathered from sources across the world and then mapped to individual organizations. BitSight Security Ratings range from 250 to 900. A higher rating equates to better overall security posture.
5.Data protection begins with customers
Finally, all the data protection begins with customers. That is why online retailers demand strong passwords that contain different characters and numerals. Sophisticated password is another guarantee that customer’s data will not be hacked. Therefore, they are the primary guardians of their data.
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