3 Reasons Why Customers Have Second Thoughts
If you operate an online business, you have an obligation to protect your customer’s personal information. There are even state laws that protect your customers’ rights when it comes to safeguarding this information. The concern over personal privacy and cardholder information can play a major role in a consumer’s decision to buy online.
Every day, we here about a new data compromise or elaborate fraud scheme. These stories cause havoc on consumer confidence and prevent many from buying online. So what are some of the reasons that consumers think twice about buying online? Here are 3 of them:
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Most people have little understanding about where information goes once they click the “submit” button. They don’t know how it’s processed, where it’s stored or what the dangers are. Many don’t even look for SSL certificates. This lack of understanding causes uncertainty and can stop the most eager buyer right in their tracks.
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Hackers have become more creative than simply hacking websites. They have come up with elaborate phishing schemes. This is where they create websites that look just like yours and lure customers to their fake sites.
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Many customized websites are storing more information than should be legally stored. You can’t protect what you don’t realize you have. These are the websites and systems that hackers prey on.
There are many examples of how websites are vulnerable to credit card fraud and data breaches. Here are just a few examples of how credit card information can be compromised through a website:
- No SSL Certificate
- Non truncated confirmation emails
- Displaying non truncated card information in stored profile
- Phishing sites or emails targeting your customers
So what are the dangers to you, the website operator, if this happens in your online store?
Unfortunately, the price you pay is like double jeopardy. You risk a hefty financiall burden through fines and then you pay the price in the public eye with negative publicity. Both can be a fatal blow for any business.
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