5 Security Questions to Ask Your eCommerce Supplier

Every 39 seconds, an online cyberattack takes place. By 2024, the eCommerce industry is projected to lose $25 billion annually due to payment fraud. 

Evidently, cyber threats pose a major risk for today’s consumers and businesses, and their significance is only expected to rise. For the eCommerce industry in particular, digital transactions are central to success, making online cybersecurity an even greater concern.

In order to succeed as an eCommerce organization, it’s critical to understand common cybersecurity threats, such as e-skimming and phishing, as well as ways to avoid them, such as PCI compliance and effective security training. Keep reading to learn how to protect your business from security breaches.

Top eCommerce Cybersecurity Threats

All device users are vulnerable to a range of cybersecurity threats, but the eCom industry is vulnerable to its own set of threats. This is because eCommerce requires internet users to input payment information on their devices, making sensitive data vulnerable to cyberattacks. 

Hackers commonly use these tactics to access consumer information on eCommerce websites:

• E-skimming: When a customer makes a purchase on an eCommerce website, e-skimming occurs when a hacker steals the customer’s bank information during the transaction.

• SQL injection: SQL, or Structured Query Language, is the language used to extract and manage data stored in a database. If an eCommerce website stores information in an invalidated SQL database, hackers may be able to see and manipulate sensitive data.

• Phishing: Hackers that email, text, or call consumers and manipulate them into giving personal information are practicing what is called phishing.

• XSS (cross-site scripting): This threat occurs when a hacker adds malicious code to a page, making consumers vulnerable to other cybersecurity risks.

• Malware: Malware or ransomware from suspicious software and websites can prevent users from being able to access their devices.

What to Ask Your eCommerce Supplier to Mitigate Cyber Risk

Although the eCommerce industry is subject to a variety of cybersecurity threats, there are ways to reduce the risk. The best method is through PCI DSS compliance, or the Payment Card Industry Data Security Standard, which has certain requirements for all businesses that handle payments from major credit card companies.

Beyond ensuring your eCommerce supplier is PCI compliant, here are some questions to ask your supplier to reduce the risk of cyberattacks at your business:

• Don’t store payment information: Avoid storing your business’s cardholder information so that hackers are less likely to access it.

• Request a CVV code: If your business handles transactions over the phone, you should always ask for a CVV code to verify the shopper’s credit card information.

• Add educational messages: In the footer of your business’s website or emails, remind customers not to send their bank information to anyone over regular email. 

• Update software regularly: Make sure that all the software your business uses stays up-to-date so that you have the latest data protection measures installed.
• Provide training on data protection: To keep everyone at your business informed about the importance of cybersecurity, train your employees on all of these cardholder data protection best practices.

With the increasing popularity of cybersecurity attacks, it’s all the more important for eCommerce firms to protect their business and consumers. Luckily, PCI compliance and additional risk-reduction strategies can make online stores less vulnerable to these threats. Simply by understanding the risks and following the steps above, you can help protect both your business and your customers.

With Convious, you chose to work with an eCom solution provider that you can fully rely on. We secure all the transactions and work everyday on making our solution as safe as possible for your attraction. 

For even more information and tips on PCI compliance and data protection strategies, check out the infographic below, courtesy of Secureframe.