Going to Sapphire 2016? Drop by booth 1146 and chat with CardConnect.
CardConnect is known for creating the best in ERP security technology for the payments industry. Our flexible SAP-certified integrations offer a secure avenue for accepting payments, while simultaneously cutting costs and reducing PCI-scope.
Our payment experts are available during Sapphire to discuss how to make payments within SAP simple, secure and 100% PCI compliant.
by Chelsea Palo
Chelsea is CardConnect's Partner Marketing Manager and a big fan of yurts.
As the availability and accessibility of various methods of credit card acceptance grows, so does the number of threats on security and consumer data. We’re halfway through 2017, and already we’ve seen several malware attacks on large corporations, leading to data breaches and the exposure of personal and sensitive information.
Let’s take a closer look at a few malicious software attacks that have impacted companies including Chipotle, Kmart, and DocuSign just this year.
This breach was a result of a malware searching for track data, which can hold cardholder name, number, expiration date and internal verification code. According to Chipotle, the data was collected and read from the magnetic strip of a card as it was routed through the point-of-sale device. The breach affected over 2,250 locations in 25 days, with 22 locations in Connecticut alone attacked. What was at risk for the customer? The data maliciously collected is often used to make fraudulent online purchases, or create “clone” cards to use in other places.
For the second time in three years, Kmart stores were infected with malicious coding. Their in-store payment data systems were attacked by a virus undetectable by current software. Years before, their partner store Sears faced a similar breach, both involving malware designed to steal credit and debit card information from hacked point-of-sale devices. Similar to Chipotle, once hackers obtain this information, they can effectively clone cards and use them to purchase high-priced merchandise. Kmart has not disclosed how many stores they estimate to have been affected by the breach.
“As part of our ongoing investigation, today we confirmed that a malicious third party had gained temporary access to a separate, non-core system that allows us to communicate service-related announcements to users via email,” DocuSign published in on their website last month. The company then said the breach only contained a list of email addresses, and all other data remained untouched. Data security is a primary component of DocuSign, and although no credit cards were compromised, the hack was highly risky for DocuSign users.
Two-thirds of the attacks mentioned above have something in common: the hacking of a point-of-sale device. While malware attacks have become somewhat inevitable, the data being sought during these attacks can be protected with powerful security solutions, including point-to-point encryption (P2PE), tokenization, and EMV-ready terminals, all of which play an important role in protecting customer information.
CardConnect is proud to offer its patented tokenization as part of its CardSecure solution, because it makes data stolen by hackers essentially useless. The tokens CardConnect uses to replace sensitive information are randomly generated, irreversible and unique. Although tokenization doesn’t prevent malware attacks, it can certainly mitigate the effects.
The good news about this year is, what we’ve seen so far isn’t all bad. There’s also been an exciting increase in the use of mobile point-of-sale devices.
Mobile payments have been exploding in Payment Card Industry – and with this comes an increased need for mobile Point-of-Sale devices. Business Insider Intelligence predicts that there will be 27.7 million mPOS devices in the U.S. by 2021, increasing from just 3.2 million in 2014.
To support this trend, CardConnect offers products to make mobile payments easy, safe and reliable. The CardPointe mobile app is free to download and available for both iOS and Android devices. To compliment the app, the CardPointe mobile device is also available, which is a small, portable plug-in that easily plugs into the audio port on devices and is especially efficient for on-the-go transactions.
Another area of growth this year has proven to be the adoption of EMV-enabled terminals, which play a major role in helping to protect consumer information.
EMV TERMINALS + CHIP CARDS
Credit card fraud has been a growing problem in the U.S. for years, costing U.S. consumers $16 billion in 2016, according to zdnet In response, card networks have made the switch to EMV security, otherwise known as: the chip card. The microchip in EMV cards serves as an extra layer of security, because each transaction is authenticated with a code that cannot be re-used. This makes the chips extremely difficult to duplicate, so a cardholder’s information is more safely stored. Although relatively new to the U.S., businesses are quickly catching up to the standard: in Q3 of 2016, more than half of all businesses had upgraded, increasing from just 31 percent the year before according to Business Insider.
We’re happy to see this increase in adoption, because the combination of EMV with tokenization and P2PE is a very powerful solution for protecting data.
CardConnect utilizes patented, unique technology to ensure the safest and most secure transactions. Our terminals, like the CardPointe retail terminal are EMV-enabled, and protected by CardSecure (tokenization plus P2PE). During a transaction, our terminal uses a one-time used tokenized code to validate the card and its user. This specific code changes with each transaction, so once it’s been used it is no longer valid. This prevents the theft of customer information for the the use of creating counterfeit credit cards.
One thing is for sure when looking at this year’s trends: the payment card industry’s technology is ever-growing. Although this provides new and exciting opportunities for the industry, the growth also calls for advanced security measures, as customer information is more vulnerable than ever.
To learn more about how CardConnect can protect your business and customer information, visit cardconnect.com/cardsecure.
Jun 19 2017
Easily Accept and Record Cash Payments With Your CardPointe Mobile App
The latest version of the CardPointe Mobile app is here and has a few enhancements worth talking about.
CASH Now, you can accept and record cash payments within the CardPointe Mobile app. All you have to do is simply choose “Cash” as the payment type when you’re prompted at the checkout stage.
TIPS If you’re a restaurant with an MCC code, you’ll be happy about this one: you can now accept gratuity after a transaction has already been captured with the new “Tip Adjust” feature. Just visit the “Reporting” section in your CardPointe Mobile app and navigate to “Transactions,” where you can drill into any eligible transaction and add the tip amount to the total.
COMING SOON As part of the plan for enhancing CardPointe Mobile, you’ll soon have the opportunity to connect to receipt printers for both sales and restaurant line-order style receipts. Stay tuned and we’ll have more on that.
For the full release notes of these updates, visit our Support Center.
In the meantime, if you don’t have the CardPointe Mobile app, it’s a good idea to visit the App or Google Play stores and download it for free, especially if you’ve already been processing with us. Trust us, it’s worth it! The app also works perfectly with our mobile device. The seamlessly integrated pair makes for easy, fast, on-the-go credit card acceptance.
And maybe you’ve heard this: the trend for mobile point-of-sale has its finger pointed upward. Nearly 30 million units are expected to be installed by businesses by the year 2021, when it was more like 3 million units just three years ago in 2014, according to Business Insider.
To get a head start on processing with your own mobile POS device, visit shop.cardconnect.com and add the CardPointe Mobile Device to your cart.
For any questions about processing with us, visit our Contact Page or go ahead and get started with your application today, here.
If you want to get a better sense of what the CardPointe Mobile app can do for your business, feel free to spend some time with a few of our past posts.
This Addition to the CardPointe App Might Change the Way You Do Business: The Catalog
Your Ideal On-the-Go Payments Experience: CardPointe Mobile App + Device
May 30 2017
You Heard It, CardConnect Has Agreed to be Acquired by First Data
A lot has happened in the past 12 hours, but if you haven’t been paying attention, it’s an exciting day for the CardConnect team. Why? CardConnect has just exchanged vows with First Data, entering into a definitive agreement to be acquired by First Data.
First Data is one of the largest processors in the world and has been our most significant partner from day one, when we were still calling ourselves Financial Transaction Services (FTS). After more than a decade later, our companies have agreed to combine. They’ve had their eye on us after becoming particularly impressed by our rapidly evolving tech portfolio, including our merchant portal CardPointe, our partner portal CoPilot, our enterprise security platform CardSecure and our integration solution Bolt P2PE. In fact, these solutions will now be adopted by First Data. We’re pretty proud of that.
What makes us happy about this next chapter from the perspective of our partners and merchants, is that it will be all business as usual. The management team, structure and staff will remain the same. If anything’s changing around here, it will be the rate of our tech development, which is great news for everyone. With First Data’s backing, that portfolio we mentioned will have the opportunity to reach the potential we’ve been dreaming of.
“We are thrilled with the opportunity for CardConnect to partner with an organization that has the world class capabilities of First Data,” said CardConnect President and CEO, Jeff Shanahan. “This transaction improves our ability to innovate and deliver leading technology-oriented commerce solutions to our combined customer base. In addition, we believe our growth trajectory improves with First Data's breadth of products and its powerful distribution network.”
This is a huge step for CardConnect and its partners and merchants. We couldn’t be happier about the change. We’re grateful to our loyal partners and merchants because without you, we wouldn’t be here. So, thank you.
We understand you might have some questions. If you do, don’t forget, you can always reach out to us by visiting our Contact Page.
The completion of the transaction is subject to customary conditions to closing.
For more details on the acquisition, you can read the official press release here.