As data breaches and malware increase globally, it can feel like no company is safe, with even large chain franchises being targeted. While there is always the possibility, it’s as important as ever to make sure your card data is as secure as possible. Some businesses can fall victim to the weaknesses in their card payment systems, and the damage is irreparable. Even if a breach is resolved, many tend to lose trust in your brand. It’s as important as ever to make sure your business has effective security in place to ensure your business doesn’t experience this!
It is vital to be sure your terminals and technology is updated with the most current solutions. Updates happen for a reason; as technology advances, faults can be found. If your technology is outdated, these faults are wide open for a data breach to jump through. The easiest step to protecting yourself against a breach is to ensure all technology stays regularly updated. By layering this with other security options, you’re providing an optimum shield against fraud.
EMV is spearheading the movement for safer transactions, and by now most businesses have implemented EMV chip readers into their processing. Those who haven’t transitioned over face the consequences, and with good reason. EMV chips are much harder to breach, and by encouraging usage of them they are helping facilitate a safe transaction. Those who haven’t updated their technology to accept this by now face fines and are held liable if fraud or a breach occurs. Make sure your business is EMV compliant!
Point-to-Point Encryption (or P2PE) is another layer of security that acts as a solution to reduce card data theft. it acts by protecting the data through transmission, from start to finish. If there is a chance attempt at a breach, this data will be inaccessible and unusable anyway.
Businesses like restaurants are beginning to offer more mobile forms of payment, like pay-at-the-table options using a mobile POS system (like a Clover Go). Not only are these more convenient for customers, but many of these mPOS systems are equipped with EMV technology, and offer P2PE security measures. This also ensures the physical safety of the card. Although most are more concerned about a data breach than losing their card, it is still just as possible to have your card compromised through misplacement as well as a breach.