According to a new Frost & Sullivan white paper, the number of consumers using digital payment methods continues to increase worldwide—and so do concerns about online fraud. With 6.17 million data records stolen every day by cybercriminals, companies doing business on the internet have two choices: win the digital trust of consumers or lose revenue. That’s because 48% of consumers say they stop using an organization’s services if they believe it compromised their data.
While many consumers may not understand how encryption works, a growing number understand its role in protecting their data and privacy online. Web browsers Google Chrome and Mozilla Firefox began notifying users in 2018 that websites without TLS/SSL certificates are “not secure.” Savvy online consumers—whether they’re banking, shopping or searching for information—know the signs of a secure site:
- HTTPS in the browser address bar
- A padlock in the browser address bar and the ability to view the company name and security certificate details
- A visual indicator like a green lock, the company name in the address bar or a security seal on the page
Increased awareness about web security is affecting levels of digital trust and driving consumer behavior. The question for online businesses and IT professionals is how to choose TLS/SSL certificates that will build and maintain digital trust (spoiler: price alone should never be the deciding factor).
Download the Frost & Sullivan report, “The Global TLS Certificate Authority Market: Key Insights for Enterprise End Users,” to learn the five factors you should consider when choosing a certificate authority to protect consumers and your brand.