The SSL certificate, or Secure Socket Layer, creates a secure connection between the consumer on your site and the server that facilitates the processing of transactions.  SSL uses a cryptographic system that encrypts or obscures personal data from potential malicious activity.  If you’re processing online transactions, it is imperative that they be secure.

SSL certificates themselves are also a useful tool in publicizing whether or not a site is trustworthy.  Over the years and as more consumers are shopping online, savvy consumers know that shopping on sites with a SSL leads to a more safe and secure transaction.  Most online shoppers will not risk submitting their personal financial information on a non-secure site.

The benefits:

• Encryption of sensitive information
• Authentication of the transactions path to the proper party
• Gain consumer trust (trusted websites sell more!)
• Protect against phishing scams

My suggestion, as a site owner, make the investment.  Not only will it improve sales/trust, it will mitigate the potential grief from stolen customer data.

Keep in mind, you may find many options for your certificate needs.  The SSL certificate authority business is fragmented, with national or regional providers dominating their own markets. This is because many uses of digital certificates, such as for legally binding digital signatures, are governed by local law, regulations, and accreditation schemes for certificate authorities. Choose wisely…

One last note, Chrome notifies users of insecure properties. Certainly doesn’t help when you don’t have a SSL certificate.