Is your eCommerce store fully Secured?

eCommerce frauds are incredibly increasing every year, underlying the increasing threat to merchants and customers. It has become one of the biggest challenges of every merchant as well as consumers today. Online credit cards is one of the major sources of frauds today. Stolen credit cards information are available all over the web, and it can become a real big hassle just to check in detail every transaction your website.

In the U.S., the first steps which was taken to fight against this trend was the mandatory i.e. EMV rollout, and the consumers were receiving new “chip” credit cards which needed a pin to complete their purchase. With the implementation of this new “chip-and-pin” cards, there have been a great relieved in the credit card fraud. Europe has been relieved by the reduction of 80% frauds, 49% in Canada, 56% in the UK, and 38% Australia.

The rise of modern Magento e-commerce development has also helped to reduce the deceptions in online shopping. It has several critical extensions which account with your e-Commerce store so that customers can quickly and easily use cards for payment.

How to fight against Fraud?

Look for Good Customers

Merchants and traders are often pissed off between the fraud prevention plannings and the wish to provide a hassle-free buying interface experience for their customers. So maintaining a balance between the two is critical. Also, about 0.9% of the transactions are fraudulent and time-consuming to find. So, instead of picking and finding out from every transaction, one can begin with identifying good customers, mapping their spending patterns, order history and cross-referencing with their information.

Dropping good customers from the fraud search will ensure not to trap in the fraud checks. Thus, offering better customer experience.

Usage of Fraud Protection Tools

Merchants may engage in some manual fraud checks. There are online software tools that help in identifying both healthy transactions and fraudulent transactions in mere seconds. The credit and debit card  fraud detection solutions look for fraud in two main ways:

1. Recognize stolen or suspected Cards

The fraud prevention software can quickly review more than four billion transactions globally and can check whether the card entered is faulty. It intimates in advance whether the transactions as “risky” or not. Thus, restricting it from being completed without further examination.

2. IP Piercing and Fingerprinting of the device

Nowadays, the card can be identified when used either excessively in multiple devices or used in strange places.

With the use of fraud prevention software a person can keep hold of fraudulent transactions that saves not only a lot of time, money and frustration but also builds a seamless experience for good customers.

Tap Tokenization

Tokenization is a new buzz word of the e-commerce industry. Many security problems have the same root cause and attackers get access to raw credit card information from the owners or retailers. Tokenization eliminates a merchant’s need to store customers’ payment information directly. After storing it on a payment, providers secure you never have to transmit sensitive information through your systems.

A token is worthless to a hacker but priceless to the merchants and consumers. It eliminates the need to save credit card information, thus,  reducing the risk for merchants on servers. It has become the popular way for businesses to reinforce the security of credit card and e-commerce transactions and reducing the cost and complexities at the same time, to match with industry standards.

Bottom Line

We have seen multiple frauds in online shopping, and we have to take care to create a tool that brings you the protection and peace in mind. Anything suspicious or sounds fishy should be checked over and over again. It is better to make your customers happy than charging back.

Why and Why Not to Choose Magento For Ecommerce Development?

If you’ve been planning to take your e-commerce business online and create a strong standing in the market, you must first decide which platform should you choose to build a dominant website.

Magento is proclaimed as one of the best e-commerce platforms, for building online stores, among the majority of retailers. However, some retailers also find the platform complicated to use and costly. While Magento might not work for everyone, yet it is trusted by 240,000 retailers for creating an online storefront.

So, you may feel confused and baffled whether to use Magento for your e-commerce website development project or not. Right? Besides, with plenty of other options available for e-commerce development, picking a suitable platform is not that easy.

This article will help clear out your doubts, by making you understand the reason behind Magento popularity as the perfect platform for developing e-commerce sites. And, what makes it a less attractive option to retail businesses.

What Makes Magento Better Than Others?

Below listed are five best Magento features that make it one of the most preferred e-commerce platforms compared to others:

1. Easy to Customize User Interface (UI)

To keep users engaged with your e-store, it becomes needful to modify the layout or design of your store. With Magento, users get access to a flexible and usable interface that provide the necessary tools for managing the store and performing other important tasks with efficiency. The ability that Magento renders to users in making the customizations by maintaining a single back-end helps in enhancing UX (User Experience) and eventually increases conversion rate. Most importantly, the release of Magento 2 UI makes the process of constructing custom UI even more easy.

If you are perplexed about moving your site or store to the new Magento version release, here’s an article that will provide you useful insight on the same:

Switching From Magento 1 to Magento 2: Everything You Need to Know

2. Multi-Store Management

If you plan on expanding the reach of your store to users spread geographically, then you’ll require a site that displays information in different languages. Also, you may want to run multiple stores to meet the needs of diverse industries. Thankfully, Magento helps configure multi-stores with various languages a less hassled task. The best part is that Magento helps in managing multiple front-ends via a single back-end.

3. Catalog Management Simplified

Let’s face it, uploading products manually (one by one) for a large-size e-commerce website can be a time-consuming and tiresome task. Thanks to Magento, you can upload thousands and more products in just a single click. In fact, it allows users to add several attributes, including SKU number, product description, price, and many other options in a quick manner. Essentially, Magento makes catalog management simplified as it supports inventory management, up-sells, cross-sells, batch import and much more.

4. Analytics and Reporting

Magento comes integrated with Google Analytics and thereby helps track users visiting your store. Plus, the e-commerce platform helps generate reports which include sales and tax reports, product reviews, details of little stock, coupon usage, and others – that are essential to measure the performance of your store.

5. Mobile Commerce

The use of handheld (i.e. smartphones and tablets) devices for Internet browsing is increasing at a rapid pace. In fact, such devices have become the primary source of accessing and purchasing things online. Thus, it is imperative that the e-commerce platform you are choosing supports mobile commerce. Magento mobile-friendly configuration makes it an ideal platform for building a storefront optimized for mobile users. It comes with a mobile interface based on HTML5 technology that includes features like user-friendly search, device-specific media capabilities, and so on.

Problems Associated With Magento

Despite of the rich feature set that Magento provides, there are a few factors that you  must take into consideration before choosing this platform:

1. Magento Can Be Expensive

While Magento is open source and free to download, the software requires large servers to run a site, which increases the operational cost. Moreover, the platform often needs vast resources to work, making you spend more money in putting up an online store. Therefore, if you just need to build a small online store, make sure to plan your development budget to run your site on the Magento platform.

2. Professional Assistance For Customization

In case you run an online store or a website built on the Magento platform, then you must have familiarity with operating its back-end interface. Remember, it may happen that your team might fail to make the desired modifications or upgrade because of complex nature of the Magento interface. In that case, you will have to recruit the services of a certified Magento developer to meet your specific needs with efficiency.

3. Regular Maintenance

For smooth functioning of your Magento site, you’ll have to maintain regularly the logs, caches, flat tables, and other components of the website. Even though you can make such task automated using Magento extensions, but you will still need to keep a vigilant watch on each component to ensure that everything is working in the right manner.

Conclusion

Hopefully, the above mentioned points will remove your doubts about selecting the Magento platform for building an e-commerce site or an online store.