There’s several ways to make cybersecurity in the ecommerce sector enforceable, but is it the right solution?
Cyber attacks and and online data breaches are unfortunately regular topics of discussion across a wide range of industries.
In fact, ecommerce (opens in new tab) losses to online payment fraud alone were estimated at $41bn globally in 2022, up from the previous year. The figure is expected to grow further to $48bn by 2023, according to Statista (opens in new tab).
With all this, the race to get ahead of these attacks and keep data secure is paramount – so what can your business do to stay safe?Security in ecommerce
TechRadar Pro spoke to Pawel Trocki, Chief Product Officer at G2A, a digital marketplace headquartered in the Netherlands, with offices in Poland and Hong Kong.
Discussing the security associated with other vendors, Trocki says the best way to enter into any partnership to make sure security is at the forefront is to follow strict procedures.
“There are certain processes and procedures that we follow. It’s not like we connect somebody without checking and verifying whether the environment is safe and secure. We process a tremendous amount of data and have a team of people to verify whether the vendor meets our standards,” he says.
“In terms of the standards, we use the same technology as Shopify, Google etc because it’s not like we are niche players. We don’t enter relations that will have our data or our customer data at risk.”
Shopify’s compliance covers all six PCI standard categories, and applies to every store using its platform. All stores powered by Shopify are PCI compliant by default in order to keep payment information and business data safe.
“In terms of payments, we are always evolving, having more than 200 payment methods currently. If you look at it from the perspective of a business that needs to invest in certain functionalities and certain solutions, we are following the trend that has traction, because if you invest in everything that pops up, you’ll lose money,” Trocki adds.
“So if this kind of solution, for example, QR code based solutions or Metaverse payment options, will be sustainable, we will definitely be there. Of course, not all of the methods are heavily used, if I will say that probably credit cards, payment cards, and PayPal are the most desired payment methods. The security is maintained just as any other vendor or marketplace is preserving the security.
