Are Your Online Purchases Really Secure? Knowing Your Online Retailers

Secure payment processing

Global e-commerce sales generate almost $950,000 every 30 seconds through computer sales, and almost $300,000 through mobile sales. The numbers are impressive, and growing every year. These types of purchases are called “card not present” because they don’t require any kind of swiping or chip reading. Essentially, the card is only present in electronic form. No carrying your wallet, no waiting in line, so what’s not to love, right?

Unfortunately, card not present transactions have made it easier than ever to commit identity theft and make fraudulent purchases. In the United States, credit card fraud costs over $8 billion every year. Not only does this hurt credit card holders and online shoppers, it hurts the businesses they support. But how can you make sure a payment is secure over the internet? Standing in line and sliding your card through the reader is secure enough. If your card is in your hand and never leaves your sight, then there’s virtually no chance of someone stealing it. But when all of that information is electronic, what then?

Having an online store and not providing secure payment options is like handing your customers over to the people who want to steal their identities. Fortunately, secure payment solutions are available to you. While you may think of it as protecting your customers, by doing so, you’re protecting your business as well. A reliable business that customers can come back to is an investment all on its own.

Research shows that approximately 50% of all online buyers will make mobile payments for purchases in the near future. You may think making your website or mobile app look appealing is the most important aspect of online business, but the truth is that you need to earn your customers’ trust to continue growing. Extra security measures may seem like a pain, but keeping your customers safe means keeping them as customers!

Data breaches aren’t fun, and neither is dealing with identity theft or fraudulent purchases on your website. In a large percentage of cases, the initial contact point for identity theft is unsecured websites. Don’t let your business be one of them!

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