building customer confidence- tips for online retailers
TRANSCRIPT
Building Customer Confidence- Tips for Online Retailers
Tips for Online Retailers to Built Customer Trust
Educating Customers
• In order to be successful, retailers should communicate outwardly to consumers
that security measures are in place, and that safeguarding their data is the top
priority.
• Retailers can do this by:
1)offering optional security checkout pathways where employees spend some extra time to validate the customer's identity to prevent frauds
2)posting warning messages on the website providing awareness to consumers on the various risks they may incur when making payment, and
3)offer consumers prepayment options, so no actual credit/debit card transaction occurs at point-of-sale (POS) terminal.
Big Businesses Should Define Cyber Security Standards
• High-profile retailers should take up the responsibility of helping small and
medium-sized businesses define and communicate cyber security standards. This
would help in raising the bar for all retailers.
• This also helps in illustrating what smaller firms do not need to do that larger firms
should.
• For example, a big-scale technology launched to maintain a market-leading
retailer's security structure may not suit a smaller retailer.
Taking Tips from Financial Institutions
• Financial institutions do a good job, when it comes assuring customers that they
have the necessary tools in their security stash to mitigate risks and guard their
customers.
• This is what online retailers should be doing too. Though it is still a question
whether some retailers have instilled this type of trust in their customers.
Prepare Before Threats Set In
• Retailers should change their practice methods of early detection and mitigation.
• The retail sector should understand and face the fact that data breaches will occur
every now and then and the only way to prevent them is by anticipating them.
• For example, take online shoe and clothing store Zappos.
• The U.S.-based retailer builds its security system expected to be compromised.
• So when data was hacked credit/debit card numbers, usernames, encrypted
passwords, and banking information were safeguarded and no consumers were
impacted.
• This practice method saved Zappos from falling victim to another massive data
breach and made the hack a nonevent.
Risk Training
• In addition to preventive-type training, risk training should be provided to security
teams at retailers and should focus on detecting and monitoring security threats.
• When prevention is unsuccessful, it happens on a massive scale, providing hackers
with an open, vulnerable environment to take advantage of.
Knowing the Best Security Practices
• Not all the best security practices are effective. They can be specific or broad for
certain vertical industries.
• Depending on a retailers resources and risk level, security practices should be
customized for each firm.
Safeguard the Corporate Network
• Today's reality is that companies are under constant attacks from determined and
diligent cyber criminals.
• Businesses need a military-style system to prevent cyber attacks from going
undetected.
• Retailers should adopt a determined approach, disciplined strategy, preventative
training, and a tactical military-style technique is needed to combat hackers.
Migrating from Old to New System
• It is a tedious job to completely overhaul and immediately enforce new POS
terminals inside every retail outlet. Instead, deploying one or at the maximum two
per outlet helps in advertising to customers that other options are also available.
Then continue setting up POS terminals at a consistent pace.
• This improves the security posture for retailers and reduces risks, ensuring that
customers are safe.
Use a Systematic Approach
• Retailers should migrate from using an old, weak system that leave them vulnerable
and unprotected from hacker.
• Some of such system include Microsoft Windows XP (recently stopped received
support from its manufacturer) and POS terminals that are littered with problems.
• It is irresponsible on the part of retailers, to allow these outdated technologies to
continue to be used in a retail company when a spate of safer solutions are at hand
at a low cost.
Co-operate with Others
• Given the fact that better technologies such as Google Wallet and Apple Pay offer a
more secure transaction, retailers can stop being self-serving.
• Some retailers still prefer to use their own payment solutions (for example,
Merchant Customer Exchange).
• This will deprive customers of better security and leave the door open for hackers
to enter and steal data.
More Info https://blog.whichssl.com/2013/03/the-impact-of-ssl-certificate-on-online-advertising/