It is no secret that the digital era has unleashed numerous possibilities for launching an e-commerce business. The entry barriers to the e-commerce space have extremely fallen, from becoming an independent Amazon merchant to engaging in large-scale operations. However, with so much confidential data revolving around the internet, like cardholder information, the risk of malicious attacks is high.
PCI aims to combat credit card fraud that results from the leakage of sensitive data. Obtaining PCI compliance is critical to every e-commerce company that aims to accept payments through credit and debit cards. This post reveals the best tips to keep your e-commerce business PCI-compliant.
What is PCI Compliance?
Payment Card Industry Data Security Standards (PCI DSS) is a set of rules intended to ensure that businesses using credit cards maintain a secure environment. This data security standard is non-optional to organizations that collect, process, store and transmit cardholder data. The PCI Security Standards Council (PCI SSC) launched PCI compliance in 2006.
PCI SSC is an independent body made up of leaders from credit cards networks like Mastercard, Visa, Discover, American Express, and JCB. The team’s role is to promote PCI-compliant data security standards and provide businesses with tools to implement them. Their aim is to protect all parties involved in payment transactions, including processors, networks, financial institutions, businesses, and customers.
Why is it Important to be PCI Compliant?
While PCI compliance is not a legal requirement, failure to follow the protocols could get e-commerce business owners into trouble. Let’s take an example of a business that suffers a breach of data, and the investigations reveal that it is not PCI compliant. It may pay fees and fines amounting to thousands of dollars from the payment card issuer and the government.
Besides that, insurance claims and lawsuits can be raised against the business for failing to comply with the PCI standards. Another risk could be losing valuable employees, customer confidence, and the ability to accept payments via credit cards. So, while e-commerce businesses cannot be fine for not being PCI compliant, they could be held accountable for any data breach.
Research shows that most of the breaches affect small businesses; hence being on the safe side is better than sorry. Many would wonder why hackers target these businesses while there are bigger fish in the market. Well, they view small retailers as fast prey since they know that most large companies are PCI compliant. PCI will help protect your e-commerce business from practices like phishing, malware, weak passwords, remote access, skimming, and outdated software.
Helpful Tools for eCommerce Business
Running a successful e-commerce business requires effective tools to help you automate and simplify a vast range of tasks. They will help you accomplish all your store-related tasks, from website designing to inventory management. Here are the best tools that small business owners require to launch and grow their online storefront successfully.
An E-commerce Platform
The most critical tool for a successful e-commerce business is the platform. Shopify and Woocommerceare the most popular platforms specifically designed for e-commerce storefronts. The two platforms are preloaded with services and tools to help retailers manage their businesses. All you need is to choose the themes and services that best suit your business.
Email Marketing Platforms
To allow existing and new customers to know about your products, you can use email marketing. One of the best ways to grow your email list is through the use of MailChimp. It has the ability to execute coordinated marketing campaigns and automate many marketing tasks. The software can also track any abandoned carts and automatically send client follow-ups to maximize conversions.
Digital Payment Processing Systems
When you make it possible to purchase your products and services from your website, you need reliable payment processing systems. Thankfully, several third-party service providers make online transactions a breeze. Stripe and Paypal are the most famous solutions available in the market. Close to all e-commerce enterprises can integrate these payment options into their website infrastructure.
Advanced Tracking and Analytics
When your e-commerce platform is up and running, it is crucial to track and analyze all your sales information. Kiss Metrics is software that helps retailers to understand the purchasing habits of their clients. It helps to test valuable data points and identify changes that can maximize the efficiency of the platform. Whether your focus is improving the performance of your website or making more sales, Kiss Metrics will serve you well.
Shipping Services Integration
Nearly all e-commerce businesses have a solid way of handling their logistics efforts. Companies like Shipping Easy and Ordoro offer effective shipping services integration to their customers. They help to automate order generation with minimal lead-time and high efficiency.
Social media Management Tools
Every successful e-commerce needs to maintain a good social media presence. This involves regular updates of social media profiles, which can be tiring and time-consuming. Effective social media management solutions help to keep your customers engaged. One of the best tools to use is the HootSuite, which allows retailers to access and post all their branded digital content. This easy-to-use is great in organizing content and automating posts based on the editorial requirements.
Customer Relationship Management Solutions
Customer Relationship Management (CRM) is a popular term in the e-commerce industry. One of the keys to a successful enterprise is customer satisfaction. The most popularly used tool to achieve this is Zendesk. It aims to create the best customer experience through an extremely intuitive website. The software can give your company a competitive edge when you combine it with a dedicated customer support team.
Running an e-commerce business with these tools is crucial for any retailer aiming at increasing their sales and creating brand awareness. They help to maximize your online results and ensure the best customer experience.
Using these tools, however, requires the help of professionals. At Ndevr, we help new small e-commerce business owners build a site or app for their enterprises. Our engineers have more than 15 years of experience in developing high-traffic digital properties. Contact us today and allow us to take your e-commerce business to the competitive edge.