a lady holding a credit card and working on a laptop
Share on facebook
Share on twitter
Share on linkedin

How to Maintain Safety in Online Transactions?

Isn’t it true that being able to satisfy all of our wants with a single click on the internet has simplified our lives? In fact, we’ve started doing our grocery shopping online as well as purchasing plane tickets, apparel, books, and mobile phones.

Of course, the speed and convenience of “online” buying are the most important factors in this decision.

Besides this, harmful software that has grown because of the widespread use of the internet for shopping causes us to be concerned when we buy online. Not to worry, you may securely accomplish your purchase with the help of a few safety precautions.

Without further ado, we’d like to talk about some of the best online shopping safety tips and methods.

Maintaining Safety in Online Transactions for Personal Usage

1.  Don’t Use Public Computers

Never shop on the internet while using a public computer at work or anywhere else. Because this sort of computer may be infected with a virus, and as a result, they can access your bank information. As a result, choose to finish your shopping without saving your password on a computer that you are not safe about its security and network.

2. Start Making Use of a Virtual Card

Regardless of how secure your computer is, if you don’t want to provide websites with the details of the credit card, Virtual Card is the solution for you! Using your Virtual Payment Card, you can quickly open it and connect it to any credit card you choose.

You may then transfer the limit you specified to your Virtual Card.

3. Make Certain That Online Shopping Website Is Well-Known

The first and most significant thing to consider is whether the website from which you are purchasing is a reputable and well-known one. If you are unfamiliar with a website, you may check to see if it has an SSL certificate to get a sense of its credibility before proceeding further. It means the site is secured and encrypted if the address bar of the website has a lock symbol and says “https//.”

4. Change Your Passwords Regularly

Set your card passwords in a way that is difficult to guess, not something like a birthday, mother’s or father’s name, or a sibling’s name. Changing your password on e-commerce sites you use can lessen the likelihood of your personal information being stolen.

5. Email Security

If you receive an email, message, or Internet site that seems suspect, don’t click. Close your browser and turn off your computer for a short period to investigate more. Restart the computer and conduct a comprehensive virus check before reconnecting to the Internet.

Maintaining Safety in Online Transactions in Your Business Website

The convenience of receiving and sending online payments so might lead individuals to believe they are safe. However, although your online business is up and running, the internet is constantly vulnerable to new cyber threats. Therefore, it is necessary to take further efforts to guarantee that your client’s financial information is kept secure.

1. Comply with the PCI Data Security Standard

It is necessary to check that your company conforms to the Payment Card Industry Data Security Standards before taking online payments from customers. Your online transaction system and payment gate-checked for vulnerabilities by the PCI DSS, and if any concerns are discovered, you must address them immediately.

2. Select a Reliable Ecommerce Platform and Payment Processor

Although accepting online payments for your sales is a great convenience (discover the simple steps to add payment methods on your website now) and that making money so quickly is appealing, unfortunately, not all eCommerce platforms and payment processors take security as seriously.

When looking for a payment processor, find a respectable and reliable company that has received positive ratings and is open and honest about the security measures that they have put in place.

3.  Activate 3D Secure

When a consumer purchases a product or service online, 3D Secure 2.0 secure adds a layer of authentication to the transaction. For instance, if a customer purchases a product from your website using a Mastercard, this organization will perform the final verification test.

These verifications may require the use of pin numbers sent by SMS or instant messages.

4.  Address Verification Service

For payment security, the address verification service (AVS) is one of the most common approaches. The billing address of the credit card must be the same as the address of the purchaser. Although it is not flawless for avoiding fraud, it does considerably minimize the likelihood of fraudulent conduct.

5. Asking CVV

On the phone or online, the Card Verification Value (CVV) can confirm transactions involving a card that is not physically present. If the credit card numbers have been stolen, businesses may confirm the payment by requesting information that is only available on the credit card itself.

6. Fraud Monitoring System with Your Payment Gateway

An integrated fraud monitoring system may detect the possibility of a fraudulent transaction when taking place. Businesses can define criteria based on their business flows and sales volume estimates to limit or reject transactions that are thought to be high-risk, or that require manual approval.

Aside from following all the measures listed above, maintaining the security of your online payment methods and e-commerce shop is an ongoing task. A consultation with payment solutions professional can be a great start. If you work with a dependable and competent payments partner, they will take the time to develop online transaction security methods to meet your specific requirements.


Some other articles you might find of interest:

Make your business rock with these business plan writing skills:

Startup’s Guide to Write a Business Plan

Would you like to know how investors value a startup?

How Do Investors Value a Startup?

Join Our Small Business Community

Get the latest news, resources and tips to help you and your small business succeed.