Mobile POS systems must be built for security
Mobile payment systems can open up a litany of new avenues for your business, empowering field reps to take payments in the field, giving retailers new opportunities to engage with customers in your store or simply (but importantly!) reducing the cost of doing business.
With more and more businesses realizing the benefit of abandoning their traditional point-of-safe systems, there are now hundreds of options to choose from when selecting a mobile solution for your business. They likely all vary in the way they integrate, how much they cost and the customer experience they provide. However important these factors may be to the way the system performs in your business environment on a daily basis, there is one far less visible feature that is even more crucial: security.
When your customers transact with your company, a certain level of trust is involved as they assume the payment data they provide will not be compromised in your care. As a business owner, maintaining this trust is paramount when it comes to retaining customers. That being said, more than half of businesses experienced a security or data breach involving their customers' payment data over the last two years, according to a recent survey by the Ponemon Institute. What's more, 55 percent of respondents said they did not even know where their payment data is stored or located.
Overcoming the disconnect between customers' expectations and the actual level of security businesses typically provide has become foundational in this "era of the data breach," in which consumers are rightfully more wary of where and how they provide their payment information. Therefore, a demonstrated track record of security must be a prerequisite when choosing a mobile POS solution for your company.
In fact, as soon as next year many small merchants will be barred from working with unsecure payment software companies. As of January 31, 2017, Visa will require Level 4 merchants who have not validated their own PCI compliance to work with a POS software provider that has been certified by the PCI Security Standards Council.
Vantage recommends secure tablet POS solutions from vendors like Verifone. To learn more or request a demo, contact us today!
