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The modern eCommerce landscape: How compliance impacts success

Created on Apr 18 2017, 4:23 PM by Rufus Connell

The more we rely on the web for personal and business use, the more important it is to keep it (and ourselves) safe from cyberthreats. The bulk of this responsibility falls on those in charge of websites, but once you understand the evolving cybersecurity landscape, you’ll realize you can actually shape it to your business advantage.

Ushering in a new era of cybersecurity
Key internet stakeholders, including web browsers, cybersecurity companies and organizations in the payment card ecosystem are joining forces and redefining best practices to create a safer, more sustainable internet:

•    Chrome and Firefox are displaying “Not Secure” warnings on certain web pages that are not encrypted.
•    Symantec and other security providers are supporting widespread data encryption.
•    Payment card companies continue to innovate and drive stronger fraud prevention.

The Payment Card Industry Security Standards Council (PCI) recently updated an important Best Practices for eCommerce Report. The update was created in collaboration with a special interest group including representatives from Symantec as well as merchants, financial institutions, service providers and other payment security professionals. The report offers:

•    Additional guidance to the PCI Data Security Standards Guide (PCI DSS)  about best practices for securing eCommerce implementations.
•    Useful information for selecting SSL/ TLS certificates (and the certificate authorities which provide them), especially those which are most appropriate for unique eCommerce environments.
•    Questions merchants should ask their certificate authorities, eCommerce solution partners and other service providers.

Staying ahead of these evolving best practices can help you not only protect your customers and your website —but improve your business and profitability.

The stakes are high
Cyberthreats are more pervasive than ever before. Customers are increasingly concerned about fraud, and failure to adhere to the latest compliance benchmarks can significantly impact your businesses. If a data breach occurs:

•    Consumers lose confidence in your brand, making it difficult (if not impossible) to restore your image.
•    The brunt of financial responsibility typically rests on merchants.
•    Other liabilities exist in the form of fines and penalties, legal costs, lost jobs and more.

In short, it all comes down to good governance. Without it, your site and your brand are at risk. With it, the eCommerce world is your oyster, and credibility and profit are the pearls within. 

The road to success is paved with best practices
Rather than burdening your business, compliance to evolving standards can actually open up new avenues of opportunity. But to capitalize upon them as an online merchant, your responsibilities include:

•    Ensuring secure development of software and confirming Payment Application Data Security Standard (PA-DSS) validation of third-party apps
•    Maintaining written agreements with third parties to ensure cardholder data is protected
•    Strengthening SSL/TLS certificate authentication, minimizing risk and more

The better you understand security guidelines, the easier it will be to stay competitive and build a sustainable online business.

Ready to learn more?
Register now to attend Online Trust: Where Compliance Meets Profitability, a live webinar that will be held on April 26 at 10 a.m. PST. Representatives from Symantec and VISA, key members of the PCI special interest group, will explore the intersection of compliance and profitability – and how the latest internet security best practices can benefit you, your customers and your business. 

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