Keeping Your Data Safe & Customers Protected.Zero Fee Credit Card Processing NYC
For business owners and consumers, the payments-security landscape is a minefield of highly-publicized, daily data breaches. With numerous threats confronting businesses and their customers, it’s important to stay ahead of the security curve and maintain a proactive strategy to offer the best data and privacy protection.Zero Fee Credit Card Processing NYC
Software and Network Connections
With any transactional business, it’s important to know how to safeguard your payment processes and maintain your customers’ data and trust. This includes ensuring that you’re up to date with your payment processing software, and all software, including: operating system, POS application, third party software, etc. All are potential areas of vulnerability. One of the first lines of defense is ensuring you’re synced with the latest software updates. These typically include security advancements and patches that can shield vulnerabilities from hackers and help businesses stay one step ahead of the latest threats.
When possible, use an Ethernet connection for payment transactions – this is often more secure than Wi-Fi. To prevent inbound threats, businesses offering customers public Wi-Fi should ensure that payments systems are connected through a separate, secured network that is solely used for business purposes. Also, control who has access to your network equipment as far as possible and inspect your network to ensure no new devices appear.Zero Fee Credit Card Processing NYC
In spite of the fact that installment programming vulnerabilities are normal, a portion of the greatest dangers to vendors are really physical assaults on installment equipment, for example, counterfeit belts that can imitate overlays or consoles, and skimmers which are basically pernicious card perusers. Little handheld skimming gadgets are likewise normal and deceitful representatives are one of the greatest wellsprings of card information ruptures. Amid the initial a half year of 2017, the quantity of traded off ATMs and POS gadgets hopped 21 percent, contrasted with the initial a half year of 2016, as indicated by information from FICO. (Creditcards. com, 2017)
To alleviate the danger of security assaults, organizations ought to settle on PCI-Validated, EMV (chip card) installment equipment and specialist organizations. The PCI (Payment Card Industry) set of security guidelines guarantees that client card information is never presented to the POS or installments supplier and is encoded utilizing particular equipment in the installment gadget from the time the card is plunged, tapped or swiped until the point when it achieves the bank.
Enlisting reliable workers is additionally basic. Exhaustive record verifications are basic and utilizing a POS that screens representative utilization of the installments terminal supports worker uprightness.Zero Fee Credit Card Processing NYC
Choose your payments and security partners wisely, after all you are entrusting third party companies with some of your most sensitive needs – your data and that of your customers. In addition to ensuring your payments providers are PCI validated, look at other important factors like how sensitive data is handled in the cloud; e.g. does your POS provider use high-security data centers with strong physical and digital access controls? Ideally your payments transactions should be seamless and uninterrupted even if you drop your connection. It’s crucial to know that you have a trusted payments partner who is constantly, and working in the background to protect you from security vulnerabilities.
As an iOS-based POS provider, at Revel we also consider the integrity of our partners. For example, we know that Apple takes data privacy and information security very seriously for all its products and maintains strict control of the software ecosystem, including how companies use their frameworks, like ApplePay. They also provide vital tools for developers to manage security and data integrity; e.g. iOS devices can be locked down, preventing them from being used for non-business purposes. The ability to track the location of individual devices and remotely wipe and disable them if they are removed from the business is an invaluable tactic in the fight against hacks and fraud.Zero Fee Credit Card Processing NYC
Cryptocurrency and Beyond
Since virtual currency is currently a hot topic, and some larger stores are experimenting with it, many retailers are curious about where it fits within their business and how secure it is. However, the primary interest around bitcoin and cryptocurrency, at this point, is largely speculative and not advisable for mainstream use as a day-to-day cash replacement. The primary advantages of an unregulated cryptocurrency marketplace tend to favor grey-market and black-market scenarios more than day-to-day consumer transactions. Its use may be relevant in certain markets where some degree of anonymity is desired, but for the typical merchant conducting cash and electronic transactions with consumers, the disadvantages clearly outweigh the advantages at this stage of its life cycle. For example, today a bitcoin transaction takes hours to clear and charges at least a seven percent fee for each transaction. Within that processing timeframe, the value could swing dramatically in relation to the original transaction price.
There is currently no consumer or merchant protection built into an unregulated cryptocurrency market, so a data breach could mean you lose every virtual token in your possession. Due to the lack of regulation, there is currently no bank or network who will recompense a merchant or customer in the event of an error or an act of bad faith. When we get to a point where cryptocurrencies are regulated, they will be safer and more commonplace in the retail setting, and when we’re there, payments processors and merchants will accommodate this new currency as a more trusted method of exchange.
All things being equal, despite the fact that information and installments security may not appear to be the most fascinating or dire thing that possesses the bustling personalities of retail entrepreneurs, it is similarly as vital as the way you handle money or prized formulas. 82% of purchasers concur that “banks, retailers, and different associations engaged with the credit/plastic industry need to accomplish more to secure their own card information.” (Bank Innovation, 2017) the primary concern? On the off chance that installments security is a best customer concern, it ought to be a best worry for retail organizations.
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