Paying online has become one of the preferred ways to pay the seller. It is convenient and easy.
The industry has seen staggering growth, and as more people switch to online buying, this number is expected to grow even more significantly. The market size of the online payment industry is expected to reach $17,643.35 billion by 2027.
However, as sellers, we need to ensure that our buyer’s data stays safe. Today a single breach can ruin your reputation. Therefore, strict and secure systems need to be put in place.
On that note, let us look at seven things that you can do to make your payment systems secure and convenient:
- Don’t confine users to a single login option.
There may be times when a user is in a hurry and wants to buy stuff super-quick from your store.
In such a case, the last thing you would want to do is force them to enter their credentials to complete their purchase.
That way, you may not be able to convert as many customers as you like because they want convenience over anything else.
Therefore, you must have several login options like logging in as a guest and logging through social media platforms like Facebook and Google.
PCI SSC compliance
The Payment Card Industry Security Standards Council is the governing body that creates specific DSS or Data Security Standards for accepting payments online.
DSS provides a set of guidelines for every business to follow regardless of their credit/debit transaction volume. These rules are designed so that both merchant and the buyer transact safely.
If a merchant does not comply with PCI, their transactions won’t be safe. They can be easy bait for hackers who are lurking around the internet.
- SSL Encryption
Security is a significant concern for modern-day ventures. Customers do not want to buy from a website that cannot guarantee their safety.
Therefore, business owners need a security system that can protect their websites from the wrath of cybercriminals.
And that is where an SSL or Secured Socket Layer certificate comes in. An SSL certificate protects the connection between the web server and the browser through encryption.
In other words, SSL creates a secure network where the communication between a user’s web browser and the website’s server can go on privately.
Hackers cannot see or intercept the data passed between the two communicating entities.
The best part about SSL is that even the most sensitive information like credit, debit, and bank details, passwords, usernames, addresses, and emails are protected.
Also, SSL is one of the leading compliance factors by PCI. According to DSS, every website must have an HTTPS:// encryption to accept payments online.
Search engines like Google also value SSL. You cannot think about ranking at the top of Google’s SERP without installing an SSL.
So, SSL is a crucial factor if you want to do business online. Therefore, buy a low-cost SSL cert like comodo positive SSL, Thawte SSL, or a cheap rapid SSL certificate today and make payments safely.
Integral Payment System
Payment systems can sometimes be nerve-racking, especially when people are redirected to an unknown page that does not look like your site.
People do not want to take any chances with their money. Therefore, some of them may cancel the transaction and bounce back.
That is why you must have your payment system safeguarded by an SSL certificate.
However, if you are a small business that does not want to invest in that right now, we recommend choosing recognized third parties like Amazon, Google, and PayPal. You can integrate Amazon Pay, PayPal, and Google Pay into your modes and accept payments. Additionally, small businesses can utilize sending money through PayPal, which provides a secure and trusted platform for transferring funds.
- Security Assurance
Users believe what they see. That is why it is okay to flaunt your security seals on your website.
It serves two purposes, a) your site stays secure, and hackers would think multiple times before infiltrating your system, and b) your customers will rest assured that they have shared their credentials with a trusted website.
Security seals can sometimes be a make-or-break factor in a purchase. Especially when people are looking to buy an expensive product, they want to ensure that the data is passed and kept in safe and authentic hands.
- Strict Verification
Since we are talking about website security, we cannot undermine the significance of a login page.
A login page can either provide an easy entry to an unsolicited user or make it extremely difficult for a hacker to enter the website. As website owners, it is up to us to decide how powerful we want our login page to be.
Ideally, every user must go through a 2-factor authentication process while logging in. But if you do not want to integrate that, we recommend restricting failed login attempts to three. Also, there should be a proper verification process once a user forgets their password.
- Easy Checkout Process
Users are generally in a hurry to pass through the checkout page. Therefore, it is best not to keep them waiting.
Your checkout button must stand out from the rest of the design so that users can quickly identify it and place their order.
Also, an excellent way to calm down the user is by showing them a visual representation of how far a user is from checking out.
Ideally, a user should be no more than 3 clicks away from the checkout page. So, giving them a visual of the step they are at is an excellent way to ease up the checkout process.
As business owners, we all want to make the purchase easy and convenient for our users. In the meantime, we should not forget the importance of security in payment processing.
Therefore, you must comply with PCI guidelines, install SSL certificates, and implement strict verification processes. Also, you must provide security assurances by displaying security seals on your checkout pages.
Apart from security, you must leave no stones unturned to make checkout processes faster. You must integrate more login options and provide a checkout button on each page.
So, follow these seven tips given above and create a robust payment infrastructure for your website.