Securing online business transactions for your company

Online shopping is an important way of life and for companies and businesses in retail, or those offering services, providing a website where these can be bought and paid for, or booked and paid for, is essential. But how can you ensure that this process is safe for your business and for your customers or clients? And what are the safety measures you should take? Well, here at Creative Network Solutions, we are Preston’s leading IT support and network services experts. From secure remote access services to business VoIP, we are the team you can count on. And this is our guide to everything you should know about secure online business transactions.

What are the important steps for securing online business transactions for your company?

When allowing customers or clients to make payments to your business online, there are a number of security factors that will need to be considered, These include:

  • Complying with the Payment Card Industry Data Security Standards (PCI DSS)
  • Using an SSL certificate
  • Not storing consumer financial information
  • Using an Address Verification Service (AVS)

Comply with PCI DSS for safe online business transactions

It is essential that your company is compliant with Payment Card Industry Data Security Standards (PCI DSS) before accepting any online business payments or transactions. The PCI DSS was established in 2006 and ensures the safety and security of customer data, as well as the security standards required for your website to accept payments online. Your online transaction system can be scanned for vulnerabilities, and these will need to be resolved, before your business will be compliant.

An SSL certificate can improve the safety of online business transactions

The Security Sockets Layer (SSL) protocol is crucial for any online retailer or business and this needs to be implemented on the website. This is because the SSL certificate enables your company to encrypt sensitive customer information, such as credit card details, that passes between a browser and web server during and after a transaction.

Don’t store customer payment data for online business transactions

Making the decision not to store financial information for customers can be a smart idea, as this reduced the risk to your company from cybercriminals and fraudsters. As a result, using an online payment that allows customers to enter their data from saved sources, trusted by them, such as their Google pay, can be a much better option for speeding up the checkout process for repeat customers.

Use an Address Verification Service for online business transactions

An Address Verification Service (AVS) is a specific security tool that can determine whether the billing address provided by the cardholder matches the one associated with the card. This can help to ensure that the transaction is legal and genuine protecting both your customer, and the company. However, there can be a a mismatch of the address through simple error, such as not updating the details at the bank or by accidentally misspelling. As a result, it can be important to use error capture to allow customers to check their details to minimize any potential damage to the user experience.

For more information or advice about any cyber security issues, why not ask the experts today, here at Creative Network Solutions.