Ever since the first online stores opened their virtual doors, there have been cyber-criminals trying to steal money from them. According to a report from the Verizon Data Breach Investigations, 61 % of attacks against online stores and shops are performed to obtain credit card information. Despite new security measures taken by different payment vendors like PayPal and MasterCard, there are still many ways to convert stolen credit card data into Bitcoins. Once they have sold the data to the highest bidder, the money is literally untraceable.
Payment vendors have demanded websites to improve their customer shopping experience by implementing vital security measures such as meeting the PCI DSS (Payment Card Industry Data Security Standards). It goes without saying that a major concern for online shopping websites is the massive PR disaster that a data breach will most probably lead to and will result in a drop in business for the website. So instead of being vulnerable these companies should protect themselves to prevent losses of any kind!