By: Dwolla,

This is a guest post from Odysseas Papadimitriou, CEO of the personal finance website WalletHub, which offers free credit scores, full credit reports, 24/7 credit monitoring and customized money-saving advice.

Identity theft and the various forms of fraud that come with it pose a lurking problem for both merchants and consumers in our increasingly digitized economy. And while no one is completely safe in this “brave new retail world”, there are some simple steps that you can take to not only protect yourself, but also to do right by your customers.

We’ll highlight a handful of options below. The overarching theme, as you’ll see, is that strategic outsourcing to specialists can save you significant amounts of time, money and market share in the long run.

At the end of the day, it’s worth noting that strong security features and a blemish-free reputation are strong signals of quality for consumers. So emphasize your data protection policies and other security practices on your website, including any related certifications you may have received. Even something as simple as an “https” address or a “CAPTCHA” on payment pages can help you win the perception game.

Financial institutions play an important role in the Dwolla network.

Dwolla, Inc. is an agent of Veridian Credit Union and Compass Bank and all funds associated with your account in the Dwolla network are held in pooled accounts at Veridian Credit Union and Compass Bank. These funds are not eligible for individual insurance, including FDIC insurance and may not be eligible for share insurance by the National Credit Union Share Insurance Fund. Dwolla, Inc. is the operator of a software platform that communicates user instructions for funds transfers to Veridian Credit Union and Compass Bank.