July 1st is a very important date for all customers that run an eCommerce business on Magento. Why?
The payment processing on your Magento 1 website will no longer be PCI compliant.
What exactly does this mean?
Payment Card Industry Data Security Standard (PCI DSS) requires merchants to ensure all aspects of their website meet the security standards set by the PCI DSS. In less than two weeks, Magento 1 will no longer meet these standards.
How does this affect your business?
This can affect your business in many troubling ways. Some of which include:
- Monthly Penalties – Fines can range from $5,000 to $100,000 PER month.
- Possibility of Infringement Liabilities – If your website is not PCI compliant at ALL times, you risk potential liabilities for infringement.
- Added Costs for Credit Monitoring – If your website experiences a data breach, there are many times when your company will be held accountable to provide compensation for identity theft insurance or credit monitoring for any customers affected.
- Potential Legal Action – If a data breach compromises cardholders’ information, then class action lawsuits and other types of litigation often tend to occur. This can lead to costly legal fees and lengthy settlement and judgment processes.
- Loss of Business – When customers find out about a data breach, they are typically ready to make a change due to a loss in trust. As a result, many will move onto one of your competitors that can properly and legally assist them without any issues. As a result, this leads to a loss in revenue and a poor company reputation.
Unfortunately, many eCommerce businesses are simply unaware of the previous announcement that Magento 1 was ending all support in June 2020; or, merchants are still not fully informed on the critical dangers and risks that can significantly impact their business in a damaging way.
Despite the fact that Magento 1 was one of the most innovative and progressive platforms launched originally back in 2008, it has reached its final end. This puts merchants in a stressful and overwhelming situation to quickly find a team of website developers and digital marketing experts that can greatly assist in a timely manner to transition your Magento 1 website to a much more user-friendly, reliable, and trusted platform – without hurting their business and revenue.
However, there is good news.
Executive Digital is a fully certified BigCommerce Partner Agency. Our team of digital experts in both web design and development and in online marketing solutions are ready to provide you with full dedication, effective guidance, and timely turnarounds without sacrificing quality. In addition, BigCommerce has partnered with us to provide only the most exceptional support with dedicated BigCommerce team members.
Global Director of Agency Partnerships at BigCommerce, Dan Fertig, stated, “Merchants still on Magento 1 beyond the end of life date will have more to worry about than just PCI compliance, as critical as that is. They’ll have to worry about site performance as M1-compatible apps no longer remain supported, and those integrations begin to painfully slow page load times. Working with a knowledgeable and experienced agency, like Executive Digital, is recommended for the guidance needed to navigate a re-platforming successfully and avoid potential pitfalls.”
Why switch to BigCommerce over other eCommerce platforms?
As the leading SaaS eCommerce platform for a range of businesses from mid-market organizations to enterprise-level organizations, BigCommerce provides unparalleled, innovative features that will make your life much easier when managing your eCommerce store.
BigCommerce offers advantages that many other eCommerce platforms simply cannot. For one, BigCommerce offers the lowest cost of ownership. On top of that, the platform is built to scale, which makes it easy for users to learn how to navigate the platform without repetitive training calls and never-ending, frustrating errors.
Time is of the essence
With July being only a few weeks away, you must start your transition process as soon as possible with the right team of experienced professionals.
At Executive Digital, we pride ourselves on being able to implement migrations for websites FOUR times faster than the average digital agency can offer. Not only do we fully take on the responsibility of the migration, but we also keep you in the loop with updates as needed. On top of this, we also provide comprehensive guidance on how to improve the website experience for users in order to drive more conversions and generate increased ROI.
What should you do next?
We know that this information may come as a shock that turns into a stressful and overwhelming situation. However, this process does not have to be a negative one for you. With our team of highly trained and fully qualified web developers, SEO specialists, and strategy leaders, we will handle everything from creating the initial strategy to migrating your data to optimizing your website for SEO purposes.
We can guarantee a smooth and effective migration to push for real results that end in more quality traffic reaching your site which, in turn, can lead into additional business for your eCommerce store.
Contact us today to get your comprehensive and complimentary migration plan in less than a week.