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You may have heard that Magento V1 will come to the end of its life later this year, in June 2020, 13 years after it was first launched. Analysts in the industry have predicted that this could affect more than 250,000 websites globally which is over 10% of live E-commerce sites across the entire world.
So what does this actually mean? If you are running a Magento V1 site it won’t just terminate, it will no longer be supported and therefore will no longer receive updates or security patches. This will result in an out of date site which in turn brings vulnerability from a security point of view. Your site and all of its data is at a higher risk of exposure to external threats and without support it is less likely to maintain its functionality, which in return could bring a loss in revenue and have a detrimental affect on your customers and your business.
What are the risks?
Potential hackers understand exactly where the weaknesses lie and how to target the unsupported Magento V1 sites. This is something to consider seriously.
The possible threats include:
Compliance threats will also need to be addressed because your customers could be affected by security breaches. Hackers could get hold of your customer’s personal information and payment details if your site’s checkout is no longer secure. Not only could this leave your customers vulnerable to fraudulence, but your business could end up on the wrong side of GDPR legislation.
What are your options moving forward?
For some businesses, the obvious choice would be to transfer across to a newer Magento platform, however we would take this as an opportunity to revise your decisions and can offer you expert advice on how you can make informed improvements to your E-commerce business.
At Vertical Plus, we offer a bespoke, custom made E-commerce platform that has been developed by ourselves over the past 10 years. Our platform is specifically designed to generate growth and concentrate on Return On Investment (ROI), increasing sales and producing more revenue, which is exactly what we all require.
We deliver an e-commerce relationship model that focuses entirely on your performance and consequently your success.
If you would like to know more about our E-Commerce partnership or anything else that we offer, please contact our Sales Director by emailing firstname.lastname@example.org and he will be happy to advise you how we can help.