Regulator looks to improve the security of online payments
14 February 2013 - 11:05 by Mike Price
Security is still a hot topic in the world of e-commerce, because fraud remains rampant and consumers are regularly duped out of their hard-earned cash by phishing sites and identity thieves.
The root of the problem is that consumers need to hand over personal data to retailers if they want to make an online purchase, so companies have a responsibility to keep this safe and away from prying eyes, which can be difficult.
The Payment Card Industry Security Standards Council (PCI SSC) is always looking for ways to make it easier for consumers to carry out safe shopping online, with its latest set of guidelines being targeted at retailers who need to tighten up the level of protection they offer to customers.
PCI SSC spokesperson, Jeremy King, pointed out that while his organisation has tackled payment security in retail for many years, it has only just published guidelines targeted specifically at the e-commerce market.
At the moment, the UK is experiencing a shift in fraudulent activities, since card fraud is falling in the bricks and mortar market, while rising online.
This means that it is more important than ever for e-commerce companies to look at implementing strategies which will protect customer data and prevent transactions from being used against consumers.
The wide ranging PCI SSC guidelines cover a broad selection of topics, outlining best practice recommendations for online retailers of all sizes.
If you pay via credit card when carrying out safe shopping online, then there are a number of industry protections in place that can help you get your money back in the event of subsequent fraud. But tackling this fraud at its core rather than dealing with the aftermath is the aim of the PCI SSC and its latest data security standards.