Protecting your online business data

5 Effective Ways You Can Protect Your Online Business Data

5 Effective Ways You Can Protect Your Online Business Data

Data is valuable in the modern world. Unfortunately, every click is a potential step towards intrusion. However, you can easily protect your online business data with some vigilance.

Use Secure Payment Processors

Online security affects both your business and your customers in many ways. But many people are worried about the safety of their money and personal information. Banks can handle payments between accounts and merchants. But it isn't always safe. Public liability insurance from companies like OneSure (onesureinsurance.co.uk) can protect your online business. However, You should also use a trusted payment processor for online transactions. Reputable eCommerce payment processors include Shopify and Magento.

Use SSL Secure Servers

SSL certificates add extra security and privacy to your website, and some people won't even use your site without them. Secure servers protect all data sent throughout your website, ensuring only authorized users can see it. This is crucial for online shopping security because data typically travels to multiple computers. So, if there's no SSL encryption, there's a chance of interception. Criminals can also steal credentials, credit card numbers, and email addresses from data packets for ID fraud or sale. And you can be held liable if you don’t offer security.

Protect Your Online Business Data with Encryption

Wi-Fi and Bluetooth are standard methods of sending data on insecure public networks. Since card payment information and personal information are sent to and from your payment gateway, they must be protected. An encryption service usually comes with your payment processor platform. However, not all are good enough. In the UK alone, around 40% of businesses are hacked each year. So, when setting up your online business, you must select a payment processor that offers encryption. Not all of them do, so go with a well-known provider.

Don't Store Customer Card Data

Stored data is among the most vulnerable at your online business. Therefore, you have to protect cardholder data if you're a merchant. Data about cardholders shouldn't be stored unless you absolutely have to. However, customers might choose to store their data, which might be necessary depending on your business. Therefore, you can minimize risk if you know what to keep and how long. Also, make sure data is encrypted. Check your log files, spreadsheets, and databases for unencrypted data with Card Data Discovery (CDD) tools. 

Protect Against Data Theft

Data theft is a big problem on the internet these days. The dark web is full of stolen data that are sold to criminals for all kinds of reasons, like ID fraud and false credentials. People sell data to fraudsters, criminals, and illegitimate companies. There's also irreparable damage to your reputation. And your customers' lives could be ruined. Therefore, many eCommerce companies don't store personal data following a transaction. After a sale, you can remove names, addresses, and card numbers from your system. Your payment processor will do this for you.

Summary

Hackers can easily steal customer data if you don't take steps to protect it. Using reputable payment processors helps. You can also use SSL certificates and encryption.

Image Credit: Padlock with binary data background - Pixabay

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