SSL

DV SSL Certificates Are Not Enough for Websites Accepting Financial Transactions

July 18, 2017 | By Kimberly Reynolds

SSL Certificates serve two purposes. SSL Certificates are used to establish a secure/encrypted connection between a web server and a browser to ensure that all communication and data transferred between the web server and browser remains encrypted and private. SSL certificates also serve to prove ownership of the website and as authentication for the webserver – providing confidence to users to perform financial transactions.

There are different types of SSL certificates, based on the kind/level of verification done on the entity requesting for the certificate. There are Domain Validation (DV) SSL Certificates, Wildcard SSL Certificates, Extended Validation (EV) SSL Certificates, UC SSL Certificates, and Code Signing Certificates.

DV SSL Certificates Are Not Enough for Financial Transactions

For issuing a DV SSL certificate, the issuing Certificate Authority (CA) verifies only the domain and whether the domain is controlled by the certificate requesting entity. The process is usually automatic and the certificate is issued within a very short time.

For issuing an EV SSL certificate, the verification procedures are more rigorous. The CA not only verifies the domain ownership but also verifies the authenticity of the organization. The EV SSL certificate also protects the website against phishing attacks. The EV SSL is hence essential for any organization that wants to allow financial transactions (such as accepting credit card payments) on its website.

The EV SSL Certificate is distinguished from other types of SSL certificates by a green padlock in the address bar as well as a green address bar or display of the name of the organization in green color. Each browser displays the EV SSL in slightly different formats. By default, all webpages with SSL certificate display “https://” instead of “http://” before the webpage address.

The distinguishing features of the EV SSL certificate provide the highest available levels of trust and authentication to your website. The green bar provides highly visual assurance that the website is secure – which provides immediate confidence to customers to complete their transaction.

The only factor that is a deterrent to the adoption of EV SSL is the difference in cost between a DV SSL and an EV SSL. When a customer browses an eCommerce website that does not have an EV SSL certificate, the customer will not be confident of performing any financial transaction.

Some customers may want to determine the type of SSL certificate for the website. For that, the user has to click on the green padlock icon to know if it is a secure connection and the SSL certificate type. In the Chrome browser, this process is even more complicated as the customer/user has to check under => More Tools => Developer Tools => View Certificate.

With the spate of SSL certificate mississuances by certain CAs, and the easy procedure for getting free SSL certificates and DV certificates, it is only natural that as customers become more technically enlightened that they conduct online financial transactions only on websites with EV SSL certificates.

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