The Evolution of E-commerce Security
Part 1 - The past 10 Years: From Aversion, to Caution, to Acceptance
by David Goodale, CEO at Merchant Accounts.ca 
Ten years ago one of the biggest challenges that every e-commerce business faced was making their customers feel confident and safe when buying online. There was an indistinct, but looming cloud of concern around e-commerce transaction security.
Somehow, through some type of black cyber magic, there was the perception that nefarious hackers would steal credit card information, and thereafter live out their days on a tropical island drinking margaritas at the innocent cardholders expense. Although the typical person didn't understand how this might happen from a technical standpoint, the concern was very real in their mind.
That now seems like a long time ago. I've just realized that one day I will explain to my grandchildren that many people used to be afraid to purchase products online. Most likely, they will laugh at this thought and then go play with their holographic lego set.
How long ago was it when I used to ask people if they had ever bought something online? When did people collectively stop asking this question? I can't say exactly when it happened, but I certainly can't picture myself asking that question today. It is akin to asking someone if they've ever ridden in a taxi or been to a Starbucks. Of course they have.
Needless to say, this is good for online businesses. E-commerce is an accepted norm. Online security is a collective expectation. Personally (and I don't condone this), I admit that sometimes when I buy online I even forget to see if a site is SSL encrypted. Why do I forget to check this? It's just so... common. Buying online is an every day experience. It's as normal as putting gas in the car. The perceived risk of purchasing online is about as threatening as ordering the shellfish at a restaurant you've never eaten at before. Seem like a silly analogy? Not at all. Shopping online is normal for me, and having someone else prepare my dinner is also normal. As long as there are no warning signs to set off my radar. In fact, having dinner at a restaurant and completing an e-commerce order carry many similarities:
When buying online most shoppers are already mostly reassured of online security. For good reason: with current encryption strength and established security protocols like PCI DSS (PCI Compliance) customers can be assured that that their purchase is safe and secure. With that said, security will always be a tickle in the back of most people's minds. If a website is clean, doesn't have broken images, renders properly in the browser and has clear contact information, the vast majority of customers will purchase in confidence.
If you walk into a restaurant, the server is friendly, the décor is nice, and its clean and bright, you will most likely order a meal without a second thought. However, if the server seems uninterested, the décor is run down, and (especially) if the place isn't clean you most likely might turn around and walk right out the door.
Before we get too far down the restaurant analogy path, let me steer this discussion back on track. E-commerce has grown to the point that trust is almost assumed, so long as you follow established security protocols and standards. I must clarify that e-commerce security is as important as ever, but because of it's prominence in day to day life, if you use and manage the tools at your disposal you can create an environment in which your customers can purchase with complete confidence. More to the point, if your web store is implemented properly many people won't even think about security, they will just speed through the purchase process — the ideal goal.
As an internet based business owner, you are fortunate to operate in an environment where trust is almost assumed. On the internet, there is no seedy part of town. If you take the time to follow the rules, observe accepted business practices and implement the established security standards, your customers will be safe, and they will feel safe when buying at your online store.
In part two of this article we will explore the specifics of these standards, and how e-commerce security has matured to protect both cardholders and merchants alike.
Author Bio:
David Goodale is CEO at Merchant Accounts.ca, one of Canada's leading e-commerce payment processors. David has worked in the e-commerce payments industry for over a decade, often consulting on matters related to international and multi-currency e-commerce payments for Canadian and European based businesses.
About Merchant Accounts.ca
Merchant Accounts.ca provides credit card processing services for Canadian and international businesses. It was one of Canada's first merchant account providers to specialize in e-commerce transaction processing. Today, Merchant Accounts.ca works with clients across Canada, the US and Europe.
In an unusual departure from the norm in the payments industry, Merchant Accounts.ca has a client focused consultancy model. Each merchant works one on one with the same consultant for the lifetime of their account. This managed consultancy model makes implementing e-commerce transaction processing easier to achieve for businesses that are new to e-commerce or expanding into new territories. More information can be found on the Merchant Accounts.ca website:
About Qualiteam Software
Established in 1998, Qualiteam Software is now one of the world?s leading providers of e-Commerce software solutions. Software created by Qualiteam powers tens of thousands of online stores and e-Commerce websites in 111 countries all over the world. Qualiteam is focused on delivering products that create a solid infrastructure for e-business and have both B2C and B2B value. Ongoing support, integration services and consultations are provided to make sure customers derive maximum benefit when using Qualiteam products. Qualiteam Software is headquartered in Limassol, Cyprus, with partner company offices in Ulyanovsk, Russia. For more information, visit http://www.qtmsoft.com
Media contact:
Alex Mulin
Customer Relations department
promo@qtmsoft.com
Jan 25, 2012
