Online shopping has taken over the retail world in a big
way. Consumers no longer have to leave the comfort of their homes in order to
get the things they need and want. As the population has become more connected
through the Internet and less available for leisurely shopping, ecommerce has
exploded and become the preferred method of shopping for many customers. In
2013, online shopping brought in around $240 billion worldwide and $54 billion
in the US just during the holidays
last year. Consumers like online shopping because its easier to compare prices
and products, read reviews, and web-exclusive promotions. When
polled, the number one factor that makes online
shopping satisfactory for users is ease of checkout. While countless
studies mention the ease of check out and comparing prices, it came as quite a
shock that few studies even mentioned security. Shopping cart security should
be the first concern of any major ecommerce provider because it could end up
costing them loss business, law suites, and unhappy customers.
Source: Inforgraphic
List
In a recent article by Symantec, they outlined the major
vulnerabilities in ecommerce systems and how they open up windows for
hackers and cyber thieves to get in. One of the major vulnerabilities of
ecommerce and online shopping carts is weak authentication and authorization.
Sites that do not prohibit multiple failed logins can be attacked very easily.
Many shopping sites also allow users to enter their email address as their
username and rarely change their password due to abundance of online accounts.
This also opens a window for any thief with an email address and password as
well. When sites implement a shopping cart or any payment function on their
site, they need to assess their fraud prevention
measures. Identity authentication using knowledge-based-authentication
can help prevent hackers from accesses a site. By using real time authentication
businesses can add another layer of security to apply to their online shopping
carts and payment processing.
Source: Webrok
[Contributed by EVS Marketing]
