If your business relies on a point-of-sale system, we don’t need to tell you how many transactions are made with contactless tech each day, whether that’s with cards, mobile apps, or wearable tech.
Without the need for a PIN number, there are a number of justified security concerns surrounding contactless payments. Here are a few ways to protect your customers and keep your payments secure.
Encrypting your customers’ card data won’t stop hackers from stealing it. However, if they do manage to steal it, you can rest easy knowing that the data won’t be readable.
Most reputable processors and POS system companies can enable encryption quickly and easily, which is an important aspect of contactless fraud prevention, ensuring that your customers’ sensitive data is much more secure.
While this won’t stop someone coming in with a card that isn’t theirs and swiping it over a reader, your loyal customers will have peace of mind knowing that you’re protecting their card information.
Get up-to-date on PCI standards
The PCI Data Security Standard was established to protect both retailers and their customers from card fraud, by drafting a framework of regulations which standardises the safest way to handle, use, and store credit card details.
This was a direct reaction to a spout of breaches among both small and large retailers, and was intended to help businesses detect and respond to breaches, all the while minimising the chance of hacking in the future.
Non-compliance with these standards puts all your card payments, contactless or otherwise, at risk of being exploited by hackers, and may even warrant fines in some cases.
Get modern POS systems
Making sure you stay on top of updating your point of sale systems will not only speed up transactions but may also make them more compatible with contemporary and evolving data security solutions.
Aside from built-in fraud protection and data security features, these POS systems can make your transactions more flexible, allowing customers to pay with their phones through apps like Apple Pay.
Obviously, your resources may be stretched, and it may be hard to justify buying new POS systems whenever they’re released. However, it pays to stay updated on emerging features and assess their value.
February 17, 2018