Merchants, it seems that there’s a new and potentially virulent malware that makes its way out into the world every week. Many of these malware use technologies to bypass anti-virus software to capture credit card data. We think it’s important that you know how to stay protected.
Customers: Mobile pay
We are living in a world where humans as young as five have cell phones and for most of us these little pieces of metal and plastic rarely leave our hands. One way to keep credit and debit card information secure is to pay with your phone! Offering incentives such as mobile-only reward points, discounts and promotional offers will help retailers attract more desirable customers who shop more frequently.
Merchants: Don’t store unencrypted credit card data
When a customer runs their card as a form of payment the card number is encrypted by stringing together numbers in the same format as the original card. This Format Preserving Encryption looks and acts like a card number, but it’s useless if a hacker gets their hands on it. This process protects both the consumer and the merchant throughout the entire payment process. If you’re a merchant and still storing unencrypted credit card data you’re putting both yourself and customers at risk. Working with an experienced processor like TSYS Merchant Solutions can provide you with all the help you’ll need to keep you safe.
As businesses embrace new technology they need to keep cyber security uppermost in their plans. Contact your local branch to learn what technologies we might be able to help you implement to help tighten up your security.