The e-commerce industry is like a treasure hunt for ill-minded hackers who are always in search of stealing sensitive information. As we mentioned above, even a small incident of data breaching can tarnish your brand reputation with huge fines.
Do you know nearly 27% of customers will not make any transaction on your site if there is a lack of fraud prevention and data security guarantee?
Remember, even if you are a small store don’t think that you are fully protected from data breaches. The small merchants should be PCI compliant. In 43% of the cases, cyber attacks target small businesses. It is easy to target small businesses for hackers as they don’t have huge resources as big giants like Walmart, Amazon, or Ebay have. A hacker has to put less effort into a few smaller e-commerce sites than to hack a site like Amazon.
After getting the customer’s payment information, the hackers can further use it for credit card fraud, redirecting customers to a fake shopping cart or checkout page, inject malware into your site, and even steal your e-commerce business.
PCI compliance will protect the data of customers in accordance with the latest security standards. The main or probably the only benefit you will get is the trust of customers on your site. They know that if you are following PCI DSS compliance they don’t need to worry about the data. This may also lead to more sales as well.