The crime of card theft and fraud is rampant and more far-reaching than ever before. There have been several POS systems compromised by bad actors. Hackers have breached computer systems, which include a customer support portal for companies using point of sale credit card systems. Learn more about How to Sell Online
The news is just one in a growing line of POS-related card fraud schemes. From the Michaels POS PIN pad swapping scam, last 2011, to breaching computer systems at Oracles’ MICROS point-of-sale credit card system, merchant-level card security is garnering new attention.
According to Robert Siciliano a McAfee consultant, coders, programmers and criminal hackers know how to access dedicated ports used for remote servicing. He said the reason why POS scam is easy to pull off is because everything about POS system is connected to the Internet. And anyone with inside knowledge of payments can easily hack a POS system. Sicilano explained that hackers simply use tools to crack a Windows remote desktop, program’s password, and they are in.
Protecting your business from fraud and payment security at the point of sale and working to prevent data breaches should not be a big work. Buzzard says banking institutions can urge merchants to take steps to secure their networks and connected systems. It is imperative to never affiliate the business name with the name of the Wi-Fi network. And as Point of sale transaction processing systems are constantly evolving, you just have to make sure that you upgrade your payment terminals to accept credit and debit cards that use chip technology. learn more Point of Sales
EMV payment technology is designed protect from the potential fraud liability of accepting counterfeit cards for credit and debit card transactions. With EMV chip embedded with your POS system, it will help stop counterfeit cards in-store at physical points of sale by offering a comprehensive selection of proven processing solutions, payment gateways and in-house credit card payment systems. When your business implements EMV technology, your business is secured from the potential fraud liability of accepting counterfeit cards.
In the status quo, more and more big companies complete their migration to EMV-enabled terminals. With costumers becoming more familiar with this technology, they will grow to expect it from your business. At the core of this system, if you haven’t updated your business yet, it is likely to be financially responsible fraud liability during a transaction with your business. Essentially, failing to get with the times when it comes to EMV technology is putting your business at risk. Sell your products click here