What is SSL and Why is it Important for E-commerce Websites?

SSL Security Certificates

Ecommerce has gained popularity in recent times over the traditional form of shopping. This is because it provides convenience of shopping. However, ecommerce is any kind of business or any business deal that involves transferring of data via internet and makes investments and imbursement feature of business transactions possible. It includes a wide range of business that deals in both products and services online, irrespective of distance and time, which is otherwise a big hindrance. Owing to this, there are several ecommerce websites available on the internet, offering their services. However, there are certain aspects that are important for any ecommerce store to run successfully.

Online transactions have become quite risky due to various internet frauds that take place while carrying out online transactions using debit and credit cards. To insulate these transactions and to make ecommerce work in a better way, SSL certificate or Security Socket Layer is used.

What is SSL?

SSL protects confidential data of millions of people on the internet every day. It is a security protocol, which is developed to secure confidential data that is transmitted on the internet. It works with the help of a secret key that is transmitted on the SSL connection. Ecommerce websites carry out transactions using SSL certificate are secured and reliable than those that do not have one. Usually, websites that requires an SSL connection begins with https:// in place of http://.

Benefits of SSL certificates for an ecommerce website

SSL certificate is a security certificate that protects sensitive data like credit card numbers and other such data from reaching any unauthorized party and prevents misusing personal information. It benefits both the vendor as well as customer and having SSL certificates is important for an ecommerce website as it provides security and builds trust of the customer.

The security certificate seals helps in building the trust of customers as their data cannot be tampered and remains secured. This as well escalates the competitive advantage as the ecommerce website not only becomes more trustworthy, but also emerges as more legitimate. This security certificate adds value to the website as it provides protection to the data that is being transmitted online. There are different types of SSL certificates provided by different service providers, but the quality depends on the encryption bits, which varies from 48 bits to 128 bits. However, 128 bits encryption is more trusted as it cannot be hacked, thus offering more security. The availability of different types of SSL certificates, which are intended for different type of business, depending on its size, has increased the security while carrying out online transactions. The new feature that has been added to the security certificate is colour coding of web browsers, which denotes secure connections. This feature has made online transactions even more secured and safe.

Difference Between Self-Signed and Third Party Security Certificate

SSL Security Certificates

In the current internet age, almost all web-based enterprises leave no stone upturned to engage their target customers across the globe, which happens to be a move that has inevitably become the most crucial step towards establishing a successful online business. In case of an online ecommerce industry, one may find it difficult to believe that 75 per cent of online consumers seek a security certificate before making any online purchase. That is to make sure that an online website is protected and verified by an SSL certificate.

Those who are unfamiliar with the Secure Sockets Layer (SSL), it is a type of security certificates, which are provided mostly by Verisign, Comodo or one of the Symantec brands. In the absence of a valid SSL certificate by one of the reliable aforementioned brands, the reliability of the website is not confirmed and thus, online buyers generally click away and look for some other portals. A security certificate like SSL is actually an electronic credit card that verifies the identity and credentials of an online site, engaged in internet marketing and other types of retail transactions across the World Wide Web.

What is a security certificate?

A website's security certificate is issued by the Certification Authority (CA) and consists of name, serial number, expiration dates and a copy of its owner's public key access. A valid SSL certificate is usually required for encryption of information, messages and digital signatures. Additionally, an SSL certificate for website comprises the digital signature of a certificate issuing authority, in order to enable an online visitor to verify its authenticity and source. Further, security certificate like SSL can be listed in online registries, so as to facilitate authentication procedure for any consumer by allowing checking public keys for verification.    

What is better - Self signed or third party signed security certificate 

A few IT tech-heads believe that expenses on website verification can be easily cut down by removing third party SSL certification from the budget equation. Those with the idea of spending money on a SSL certificate for an ecommerce business portal or an official company site is nothing but trivial, and are walking on a tight rope. A self signed security certificate for an online retail/business website is not a viable substitute for paid certification, offered by Verisign, Comodo or Symantec. As per reports and market studies, the net cost of owning a valid SSL certificate is much greater than the actual price of the certificate. Since, the input costs on data centre storage space, management software and security hardware, amid others, easily add up to a huge sum for building a secure and self signed website.