While the idea of your business accepting credit and debit card payments is nice, it’s important to fully understand the cost of such a venture.
With the number of cyber attacks being launched every day and the success hackers are having against large, heavily guarded businesses, it’s no wonder cyber criminals are finding even more success at the small business level.
Retailers know there is a major shift currently underway in the payment industry.
Ben, a retailer, tells his entrepreneur friends to stay away from the last merchant service provider he tried.
The past two years have been anything but quiet for the retail industry, with some high-profile cases shining a spotlight on fraudulent use of or access to credit/debit cards and personal information.
Did you know that 78 percent of smartphone data goes across Wi-Fi?
There is a tremendous amount of fraud and theft in the payment industry, hence security is the biggest focus for business.
An insidious threat is putting many retail and hospitality POS systems at risk. This fatal flaw in the installation of these systems takes many of them down each day across the country, creating serious problems for countless stores and restaurants.
The payment industry is an ever changing one, from once just paying with the simplicity of cash or check to now having your cellphone replace the credit cards in your pocket, mobile payments are no longer a trend but now a staple amongst consumers.
“Banks Heap Suits on Target Over Breach” read a recent headline in the Wall Street Journal story. By the time the story broke, seven financial institutions had filed class action suits against Target, alleging it did not sufficiently protect its customer’s data.