Four ways to ensure the safety of your online business

As a business owner, it’s vital to ensure the safety of your business and customer information, even more so if your business is based online. A study produced by PricewaterhouseCoopers, Cybercrime costs the global economy more than $400 billion a year, shows that theft and the distribution and sale of personal information is escalating. With a new generation of online shoppers buying more than ever before, here are four ways to safeguard your online business.

Be PCI compliant

A vital step to take before accepting online payments is to ensure the payment system you use is Payment Card Industry (PCI) compliant. The Payment Card Industry Security Standards Council was formed to ensure online businesses keep their customers’ financial information as safe as possible and certain requirements must be met before your business is proved safe and reliable. For all the information you need to get started, visit the PCI website. If you haven’t yet set up your own secure payment solution on your website, you can choose from a variety of payment gateways that are already PCI compliant.

Limit access to sensitive information

It is vital for companies to limit the amount of sensitive information their employees have access to. Limit the accessibility of sensitive information only to those who really need to have access to it. Allowing all your employees to know vital security information about your business only increases the risk of the information being shared.

Ensure security features

• Always choose strong passwords as simple ones can be easily guessed or hacked. Choose passwords that require at least eight characters and include both numbers and symbols. It is also vital to routinely change passwords, this will reduce the likelihood of someone discovering them.
• Opt for data encryption, as it only further enhances the protection of sensitive information and passwords. It works by changing electronic information from readable to unreadable while being transferred.
• Sign up for automatic updates for your entire network of computers. These updates ensure your network has the latest security software. This prevents your network from being unprotected in case you forget to update manually, and safeguards the payment transactions that take place.

Make use of a secure shopping cart system

To further increase your customer’s confidence in your business, a secure shopping cart system is vital. There are various systems to choose from that do all the work for you. It’s also highly recommended to choose a shopping cart that is integrated with a reputable payment solutions provider which includes security and technical support. PayU, for example, is SA’s largest online payment gateway and allows customers to purchase items from your online store in a safe and secure way. This type of payment gateway includes the shopping cart facility alongside secure double firewall protection, SSL encryption and 3D secure, ensuring your customer’s information is translated without the fear of it being found.

As more businesses and startups move onto online platforms to conduct business, and more consumers than ever turn to online shopping due to its convenience, there is no better time to think about the safety of your online business. Ensure you’ve thought about the important steps needed and are 100% sure your business can provide a safe and reliable service.