Online Security for eCommerce Shopping Carts

  • Fraud Prevention, Internet Fraud

Online shopping has taken over the retail world in a big way. Consumers no longer have to leave the comfort of their homes in order to get the things they need and want. As the population has become more connected through the Internet and less available for leisurely shopping, ecommerce has exploded and become the preferred method of shopping for many customers. In 2013, online shopping brought in around $240 billion worldwide and $54 billion in the US just during the holidays last year. Consumers like online shopping because its easier to compare prices and products, read reviews, and web-exclusive promotions. When polled, the number one factor that makes online shopping satisfactory for users is ease of checkout. While countless studies mention the ease of check out and comparing prices, it came as quite a shock that few studies even mentioned security. Shopping cart security should be the first concern of any major ecommerce provider because it could end up costing them loss business, law suites, and unhappy customers.

 

shopping cart 1

Source: Inforgraphic List

In a recent article by Symantec, they outlined the major vulnerabilities in ecommerce systems and how they open up windows for hackers and cyber thieves to get in. One of the major vulnerabilities of ecommerce and online shopping carts is weak authentication and authorization. Sites that do not prohibit multiple failed logins can be attacked very easily. Many shopping sites also allow users to enter their email address as their username and rarely change their password due to abundance of online accounts. This also opens a window for any thief with an email address and password as well. When sites implement a shopping cart or any payment function on their site, they need to assess their fraud prevention measures. Identity authentication using knowledge-based-authentication can help prevent hackers from accesses a site. By using real time authentication businesses can add another layer of security to apply to their online shopping carts and payment processing.

 

shopping cart 2

Source: Webrok

 

 

[Contributed by EVS Marketing]