A data breach is when information in an organization has been compromised through unauthorized access or misuse of that information. To protect consumers, every business must comply to Payment Card Industry Data Security Standards. It’s the only way to process debit and credit card payments. Protecting payment cardholder data, authenticating access, and a policy addressing information issues are the most challenging problems with data security. On way of protecting the consumer is a third party service provider. If not, then, retailers need to know what data they are storing and where that data is going.
- A data breach is when personal information that is saved by a business is lost or accessed by an unauthorized person
- The most important information that needs to be protected is credit and debit card information
- A good way to avoid the issue is to have a third party store the data
“as cashless payments become more popular with customers, who appreciate the convenience of technology like tap-and-go and mobile wallets, it’s more important than ever to ensure your business is protected.”