We also wanted to take this time to remind our small businesses (and all businesses for that matter) of the important security measures instituted and validated by the PCI Security Standards Council (SSC), that are critical for protecting against inevitable data breaches and fraudulent activity.
This week, PaymentsSource reported* on a survey conducted by Wells Fargo that found nearly half of small businesses have admitted their systems are not EMV chip-enabled, even though the deadline established by the PCI SSC passed more than a year ago, back in October of 2015. According to details of the survey results, the reasons for the slow adoption of EMV acceptance include the conversion costs (58%), the time it takes to set up the new terminals that accept chip cards (37%), and the challenges to educate staff (36%).
While the acceptance of EMV chip cards is just a part of a greater solution, it’s certainly an important piece of the puzzle. Combined with additional solutions, like our PCI-validated Point-to-Point Encryption (P2PE) and patented Tokenization, it makes for a powerful mix.
“The only defense to protect the non-stop theft of consumer credit card information is widespread adoption by American businesses of Point-to-Point Encryption, Tokenization and EMV – the holy trinity of payment security.” Rush Taggart, Chief Security Officer, CardConnect.
Speaking of puzzle pieces, payment security is just a small piece of the complex whole of owning and running a business. We know there’s a lot that goes into just one day of an open shop. We’re here to handle and ensure the security of your payments, so you can spend less time worrying about it and more time on growing your business.
According to PaymentsSource, “The most important thing to a small business owner at the end of the day is being able to get paid. A big part of the role of their POS solution provider is to make that as simple for them as possible. With the latest and greatest POS platforms evolving to increasingly serve as end-to-end business management solutions for SMBs, it shouldn’t be outside of their scope to equip customers with EMV processing capabilities as well.”
We want to see you succeed, and we believe that begins with the foundation of a secure environment. If you’re processing with us, you may already be accepting card-present payments with the CardPointe Terminal, which is setup to accept chip cards and protect every transaction with our PCI-validated P2PE. For businesses like restaurants, spas and delis, there’s a convenient Tip Adjust and Server ID feature to help keep things organized. You can learn more about the CardPointe Terminal on our Support Center.
If you’re ready to work with us to keep your business’s credit and debit card transactions secure, we’d love to have a conversation with you. Visit the ‘Sign Up’ page on cardconnect.com to get started.