In recent years, criminals trying to steal credit and debit card information have focused their efforts on point-of-sale (POS) systems. A POS security breach, like any other security breach, may cost your company a lot of money. In fact, one in every three affected POS systems was discovered in the United States, according to a study. To ensure that this does not happen to your business, we've compiled a list of steps you can take to avoid a POS data breach.
What you should know about POS data breach
POS data breach happens when cyber criminals enter the POS system and steal sensitive information. According to Experian's 2017 Data Breach Industry Forecast, threats against businesses that process cardholder data will continue to rise. Smaller businesses and franchisees, according to experts, can be the next target of cybercriminals, as they may not have the same level of technological infrastructure as the big-name stores.
How to prevent POS data breach?
Use strong passwords
On the first setup, most POS system installers utilize the default passwords and forget to change them to something more secure. Using the default password, on the other hand, makes it easier for cyber thieves to gain access to your information. It is strongly advisable that you use more complicated passwords and account names. Furthermore, it is recommended that passwords be changed on a frequent basis.
Use more secure payment methods
Companies should certainly adopt the EMV (Europay/MasterCard/Visa) or "chip-and-PIN" smartcard standard. This technique does not guarantee that credit card data will not be stolen, but it does lessen hackers' motivation to get into the POS database because the gathered data is less accessible than it would otherwise be.
Pay attention to insider threats
Companies often only focus on external threats and forget the internal ones. Instead, you should pay more attention to insider threats. Create procedures for information security and carry out periodic background checks on your staff. It is advisable to control who has access to your data and, if required, restrict who may connect with POS systems. POS users also make it easier to keep track of recent changes to your POS activity.
The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard for businesses. Being PCI compliant means that the vendor adheres to the security standard defined by the Payment Card Industry Data Security Standard (PCI DSS). For example, the payment card information is highly confidential. PCI DSS assists merchants who accept credit cards in maintaining a high level of security, and compliance with it can help merchants acquire cardholder trust.
Vendors should be aware that card payment processors may employ their own PCI compliance programmers, and they should select service providers accordingly.
If you follow all of this advice, you can ensure that cybercriminals will have a far less impact on your business. Retailers should use a reliable point-of-sale system to optimize security. If you believe ConnectPOS can be a good option, contact us now to know more about how ConnectPOS can help!