An effective and
productive retail environment no longer just thrives on cash-based
transactions. In a fast-changing and highly competitive retail environment,
it’s now a must to adopt alternative ways on how customers and clients can
complete the transactions. This means rethinking the possibility of mobile
payments systems and incorporating credit card transactions. While credit cards
have been the subject of a number of malicious attacks in recent years, the use
of plastics is still a popular option for payment among shoppers.
Why should you secure customer data?
Securing customer
data may require extra work and additional expenses, but it’s one investment
every retailer should make. Protecting customer information and payment data is
a sound business practice. It can help promote customer confidence, and can
also save your business from fines and penalties. If your retail business has been found out to
have violated governmental standards, then your business will face legal costs,
negative publicity and the risk of bankruptcy. But if you can secure payment
data, then everyone with a stake in the business including customers will
benefit.
Invest in secure credit card readers
With Target
experience still fresh in the minds of many consumers, it’s critical to take a
pro-active stance when shopping for credit card readers. This can be
implemented by looking for credit card readers that allow customers to
confidently swipe and sign in checkout counters. There are number of brands
that offer credit card readers, so choose a brand that allows you to seamlessly
integrate PCI compliance in your business practices.
The Payment Card
Industry or PCI Data Security Standard is a set of rules that every merchant
and retailer should follow to remain relevant in the industry. There are 12
requirements, designed to protect payment data and customer information. The
best card readers are those that can fully and instantly encrypt the credit
card information as soon as swiped.
Work with reliable teams with access to Point of Sale
(POS) and card readers
Retail store owners
should have full confidence on their employees manning the POS terminals.
Employees should be trained in handling the POS system including the best
practices in using credit card readers. Informed and equipped employees can
facilitate faster flow of transactions, thus improving coeval customer retail
experience.
There are
vulnerabilities in the traditional payment systems, but all these can be
addressed by taking pro-active steps in securing the payment process. With
proper training and acquisition of secure hardware solutions, customer data can
be secured.