Payment Security 101

Payment Security 101 – What you as a business owner, should be thinking about when it comes to how you are accepting credit card payments…

How to protect your business and brand from fraud and cyber-crimes, while analyzing key actionable data key to your business growth.

Current Fraud Issues – Questions to ask yourself.

  • Would it hurt your business if Visa / MC came in today and said, “You can no longer accept credit cards!”?
  • Did you know that there is 1 new fraud victim every 2-seconds in America?
  • Did you know that credit card fraud in the U.S. is more than the rest of the world combined?
  • Did you know that one of the fastest growing fraud segments is charge backs?

It would seem it's safe to say that fraud risk is going no where but up, and smart business owners should take the steps necessary to protect their business and their customers.

But here's another question to ask...

Is your Payment Processing Provider protecting YOUR business with robust tools, procedures and the multi-layered approach required to detect and prevent fraud?

FACT – FRAUD IS A HUGE PROBLEM

90% OF BREACHES IMPACT SMALL BUSINESS!

EMV® and PCI: Notable changes in 2015

Fraud Liability Shifted on October 1, 2015 - After the liability shift, if a merchant is still using the “swipe and signature” methodology and the customer has a smart-card, the merchant is liable.

PCI - DSS 3.0 (9.9) - New Requirement: Monitoring your terminals and POS equipment for substitution and tampering.

FACT – After a Breach Becomes Known...

31% Of customers stop coming back!

Small businesses and security

  1. Do you need it? YES! Remember? 90% of all data breaches target small merchants, because owners don't have time to handle their data security.
  2. Are you liable? YES! If a breach were to happen you are liable for the costs. Can you afford a hit of $25000 or more?
  3. It hasn't happened yet, so why worry?  Because it's not if...but...when. The likelihood of a data breach is increasing daily, and the consequences can be catastrophic. If it happened to Wendy's, Target, Home Depot, PF Chang's and many more large merchants, why couldn't it happen to you?
  4. My processor told me I don't have to worry about it, so why do I need you?Your current payment processing may not fully protect your payment data from the time the card is swiped or dipped. Would you rather to find out now, for free, or wait until it happens to you and incur the costs?

FACT – THE COSTS CAN BE CRIPPLING

$36k+ AVERAGE COST OF A DATA BREACH!

So avoid them!

We follow a proven approach to security for your business and your valued customers.

  • Added protection and current technology designed from the ground up with payment security in mind.
  • Monitoring and Maintaining your compliance.
  • Minimization of your liabilities.
  • Methods and technology that help you grow and retain your customer base
  • Expert guidance from an Executive level Payment Security Consultant.

We Also Help to Grow Your Business with Actionable Data.

Key Insights To:

  • Bring in repeat business. You can see your customers’ spending patterns and personalize your offers to them to keep them coming back.
  • Better target marketing. You will see profiles of customers by categories like new, repeat or local—this will help you to market more effectively.
  • Monitor results. This will help you to understand the impact of your marketing and improve future marketing efforts.
  • Check out similar businesses performance. You will be able to compare sales to a group of similar businesses.
  • Map your world. Understand where your customers live and shop around you.
  • Accessible anywhere. Log on from a computer, tablet or, phone to see how your business is performing while you are away.

To set up a consultation so we can discover the opportunity at your business, message me today. I'll also share a industry whitepaper on the subject of payment security.

Thanks!

 

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