Data privacy is a type of data security that involves keeping personal, financial, and other sensitive information secure and aligned with data protection regulations.
Today’s consumers expect quick, convenient ways to pay for the products they want. But they also expect the personal information they share during these convenient checkout experiences — such as credit card information, addresses, phone numbers, and more — to stay private and be securely stored.
That’s why it’s critical for businesses to take data privacy seriously, especially in the ecommerce space. As payments and ecommerce technologies have evolved, so too have hackers’ tools and resources. Protecting your customers’ sensitive data by ensuring your ecommerce systems are aligned with laws and regulations is key to avoiding loyalty-damaging data breaches.
It’s one thing to protect consumers’ data on the backend and another thing to show consumers that you’re protecting their data. If customers aren’t convinced their data will be protected, they’re significantly less likely to buy. Brands that are transparent about their data privacy policies are more likely to win business.