Electronic commerce refers to the electronic business transactions using a computer, smartphone or tablet connected through the internet. Online shopping is possible, as well as executing stock transactions online. You can also purchase and sell soft goods like graphics, movies, or software.
Customers can access e-commerce platforms to make self-service purchases. It allows for real-time transactions across a wide geographical area. Virtually every industrialized country has e-commerce. However, the rapidly expanding virtual market poses possible threats and problems, including consumer identity theft, leading to massive losses and severe economic damage. Cyberthreats used simple tactics like stealing credit card information from customers who bought in brick-and-mortar stores.
Cybercriminals are making a lot of money from stealing critical information from e-Commerce platforms. Their criminal activities can be frightening for small businesses. Cyber-attacks are becoming more sophisticated and frequent. E-commerce security is crucial because it protects consumers and companies from these threats. E-commerce has seen a surge in popularity during the past decade, particularly after a pandemic that caused many companies to go digital.
People prefer to shop online from the comfort of their homes and to browse through their mobile devices. Reviews and user experience are vital factors in deciding whether to purchase. You can use your installed payment channels to empty your basket, start the delivery process, and much more, all from the convenience of your own home.
A few security issues have arisen with the advent of the internet and technology, such as digital signature authentication. The internet is vulnerable to hostile attacks from bad actors in general. Ensuring security on the internet is becoming necessary due to the rapid growth of information and online governance.
Consumers can browse millions of products in hundreds to thousands of different categories. Your gadgets can be exposed while shopping online. Cart-clearing is also a security-conscious process that involves credit card information. An e-commerce platform should therefore ensure the highest level of security.
Cybersecurity refers to the science and practice of protecting computers, mobile devices, web platforms, and other web-connected devices from attacks by third parties. Robust security measures include a reliable online identity verification solution with FIDO2 certification to prevent security threats.
To know more details about cybersecurity in the e-commerce and payments industry, here is an infographic provided by Login ID.
