Hackers and data breaches are nothing new. But who they’re targeting might be. Contrary to popular belief, hackers don’t just go after “the big guys.” (According to one report, more than 70% of businesses breached had fewer than 100 employees.) Why? Because credit card information from small businesses is just as valuable — and often much easier to come by. After all, small businesses naturally lack the resources of bigger companies. But fear not. This post will help you identify a few of your most immediate threats and the best ways to fix them, so you can protect your critical credit card data and keep your business and customers safe.
As a general rule, the more types of payments you accept, the more vulnerable you are. (Think about it like a house — the more doors you have into it, the higher the likelihood you’ll leave one unlocked.) Mobile and online payments are on the rise, but the first place you should start is with your POS system. You need to consider two aspects: vetting the types of cards you’re accepting and taking a look at the physical POS system itself.
As we mentioned in another post, being PCI- and EMV-compliant is an absolute must for any small business because it means you’re no longer held responsible for fraudulent transactions. It also adds extra layers of protection for you and your customers. And becoming compliant is easier than ever. It’s as simple as upgrading your POS system.
Ah, yes. The POS system. Bane of existence for retailers everywhere. But it doesn’t have to be that way. With Clover, you get options that allow you to work the way you want while enjoying industry-leading security on every device and transaction. Yes, really. Having a modern, secure POS system also helps with your brand reputation management since customers generally refuse to do repeat business with anyone has leaked their data. Once gone, trust is really hard to earn back.
The final consideration is having a plan in place should you ever find your security has been breached. It allows you to respond much faster and more efficiently — and can save you up to 15% in additional costs associated with a data breach. You know the old saying: failing to plan is planning to fail.
As always, Clover is here to answer any questions or provide additional insight into any of the information provided. Security is just one of the ways we help you get paid, sell more and run your business better!