Oct 31, 2024

Security Boulevard Community Chats Webinars Library Securing APIs in Retail: Safeguarding Customer Data The retail industry’s digital transformation has made secure APIs essential to modern operations since they are at the core of this shift. APIs power everything from e-commerce platforms and mobile shopping apps to inventory management, point-of-sale systems, and personalized customer experiences. They help retailers stay agile in a fast-paced market by enabling seamless data exchange and streamlining processes. However, with the growing reliance on APIs comes an increasing set of security challenges that must not be overlooked. According to the Salt Security 2024 State of API Security Report , 25% of retailers are now developing, delivering, and integrating over 1,000 APIs. Additionally, a quarter of retailer respondents reported that the number of APIs in their organization has increased by 100%–200% in the last 12 months. This rapid growth in API usage highlights both the digital innovation in retail and the critical need for security measures to keep pace. The Growing Role of APIs in Retail Retailers depend heavily on APIs to connect their systems, optimize supply chains, and offer frictionless shopping experiences. They enable real-time updates for inventory management, payment processing, and even unique customer offers, providing a seamless shopping experience across any digital platform. However, this convenience comes at a cost—these same APIs can expose retailers to considerable security risks, making it critical for them to adopt strong API security measures. Key API Security Challenges for Retailers Retailers face unique challenges when it comes to API security: Data Sensitivity: Nearly 19% of retail organizations experienced an API security incident in the past 12 months. This is especially problematic as APIs in retail often handle sensitive customer data, including payment information, purchase history, and personal details. This data breach can lead to severe financial losses, hefty regulatory fines, and a damaged reputation. The potential financial losses, regulatory fines, and damage to brand reputation make data protection a top priority. API Discovery: A staggering 56% of retail organizations do not have a process in place to discover APIs across their organizations. Without visibility into all APIs, shadow or rogue APIs can remain unsecured, creating opportunities for cybercriminals to exploit vulnerabilities. Additionally, only 12.5% of retail respondents are confident that their API inventories are complete, underscoring the need for better discovery practices. High Transaction Volumes and Seasonal Spikes: Retailers experience fluctuating transaction volumes, especially during peak shopping seasons (ex. Black Friday or big holidays). APIs must handle this increased demand without compromising performance or security, making them potential targets for cybercriminals. Balancing performance with security is key, as 31% of respondents update their primary APIs every few months or less frequently, which can leave gaps in protection. Complex Ecosystems: Retailers frequently work with multiple third-party vendors, from payment gateways to logistics providers. Each integrator introduces potential security vulnerabilities, making maintaining a secure API environment harder. Interestingly, nearly 69% of respondents have delayed the rollout of new applications due to API security concerns, which points to most retailers feeling they do not have a good handle on their API ecosystems. Evolving Threat Landscape: As cybercriminals become more advanced, they develop new techniques to exploit vulnerabilities in retail APIs. Yet, only 6% of retail organizations have an advanced security strategy for their API development program. In comparison, 25% of retail respondents said that their existing security tools effectively prevent API attacks. This leaves a significant portion of the industry needing adaptive and proactive security measures to stay ahead of these evolving threats. Why Retailers Need Salt Security for API Protection To address the unique security challenges in retail, Salt Security provides an AI-driven API security platform designed specifically for retailers’ needs. Here’s how Salt Security empowers retailers to safeguard their APIs: API Discovery: With 56% of retailers lacking a process to discover APIs across their organization, Salt Security’s ability to continuously monitor and automatically discover all APIs within your ecosystem, including hidden or outdated “shadow” and “zombie” APIs, is critical. By providing full visibility, Salt ensures that no API goes unprotected, reducing potential exposure to cyber threats. API Posture Governance: Maintaining a secure API posture is crucial. Salt Security identifies and helps remediate API misconfigurations and vulnerabilities before they can be exploited. Salt ensures that retailers maintain a strong security posture by enforcing security policies and addressing compliance gaps. API Behavioral Threat Protection: Salt Security employs AI and machine learning to analyze real-time API traffic and detect threats that traditional security tools often miss. By recognizing abnormal behavior and potential threats, Salt helps prevent data breaches, fraud, and inventory manipulation. What Sets Salt Security Apart Ecosystem Integration: Salt Security integrates seamlessly with existing retail security tools, enhancing the overall security ecosystem with real-time API threat detection and response capabilities. This added layer of security protects against potential breaches and strengthens the retailer’s defense mechanisms. Scalability and Performance: With its cloud-native architecture, Salt Security easily scales to handle the high transaction volumes and seasonal demand spikes common in retail. This ensures uninterrupted performance even during peak shopping periods. Regulatory Compliance: Salt Security helps retailers meet stringent regulatory standards like PCI DSS by offering robust reporting and auditing features. This reduces non-compliance risk, ensuring retailers avoid penalties and legal exposure. Conclusion In the fast-paced retail industry, where customer trust and data protection are critical, API security must be a top priority to ensure both reliability and a seamless customer experience, confidence, and trust in digital services. Salt Security empowers retailers to confidently embrace digital innovation while protecting their APIs, customers, and brand reputation. With Salt Security’s AI-driven platform, retailers can confidently navigate API security challenges, keeping their operations running smoothly and securely, even during peak seasons. If you want to learn more about Salt and how we can help you on your API Security journey through discovery, posture governance, and run-time threat protection, please contact us , schedule a demo , or check out our website . ‍ *** This is a Security Bloggers Network syndicated blog from Salt Security blog authored by Alexandria Nicosia . Read the original post at: https://salt.security/blog/securing-apis-in-retail-safeguarding-customer-data