Point-of-Sale Security has been, and still is a major security concern when it comes to fending off cyber attacks and protecting financial interests. Due to the presence of aging operating systems and outdated software, many businesses have succumbed to cyber attacks – most recently the “WannaCry” worm that has targeted retail operations on a large scale. Retail business owners must understand the importance of Point of Sale security within their operations, since Visa, Mastercard, and other credit card companies often seek to recoup hacked transactions on customer credit cards through the retailer first. The retailer can also be held responsible for legal fees in the process of restoring customer funds and tracking down the cyber attacker.
Key Takeaways:
- Experian has reported, in the US, as many as 60 percent of small retailers closing within six months of a data breach.
- Because electronic funds transfer point of sale equipment is very vulnerable to attack, the author recommends a system upgrade to Yomani unit, made by Tyro.
- Tyro is, so far, the first and only Australian EFTPOS provider,successfully validated against the Payment Card Industry Data Security Standard.
“Many retailers mistakenly believe that because MasterCard and Visa take responsibly for the debt, so they are okay for this sum. This however is not true. What happens in these situations is that banks, Visa, American Express, Mastercard and more will look into recovering their monies from the retailer unless the retailer has a very good excuse, and they will be asking for as well fines and legal costs”
Read more: https://www.possolutions.com.au/blog/point-of-sale-security-still-a-big-problem
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