With recent data breaches at major retailers like Target and Nieman Marcus, much attention is being placed on ways to hedge against the threat of further attacks. Among the options available to retailers is a migration of point of sale systems towards the adoption of smart card technologies.
Inside of a smart card is an embedded microprocessor, which essentially replaces the usual magnetic stripe on the credit or debit card. The microprocessor provides a layer of security that traditional magnetic stripe technology can not offer (data on a magnetic stripe can be easily read, written and and changed with off-the-shelf equipment). The microchip in a smart card adds a bit of dynamic data to each transaction, which can be thought of as a one-time-use password that protects each transaction.Smart cards can be read via smart-card reader attachments for point-of-sale terminals. Manufacturers like Verifone, Equinox and Ingenico all offer smart card readers and we specialize in providing recommendations on which equipment solution is the best fit for you.
In an open letter to Congress, Target CFO John Mulligan made note of the advancements in security that come with the improved payment technologies.
“In the U.K., where smart card technology is widely used, financial losses associated with lost or stolen cards are at their lowest levels since 1999 and have fallen by 67 percent since 2004, according to industry estimates. In Canada, where Target and others have adopted smart cards, losses from card skimming were reduced by 72 percent from 2008 to 2012, according to industry estimates”
Visa and Mastercard set an October 2015 deadline for retailers to install equipment that read smart cards, and the majority of retailers are moving to adopt the technologies as soon as possible to hedge against the threat of major data breaches and prove that they take consumer protection seriously.
As a retailer, identifying and purchasing your upgraded equipment is just half the battle. Investment also must be made in the staging, configuration, deployment, and key injection of your new point of sale equipment and software. With over 30 years in the services industry, POSDATA is a team of trusted experts that can quickly roll out and support your point of sale systems regardless of the size of your company. Our focus is on providing a complete suite of services to get your new point of sale systems in place as quickly and efficiently as possible. Services that you will want to consider include:
Key Injection: When you change banks, update processors, or roll-out partial or full payment systems, your devices need to undergo “key injection” in order to ensure card encryption and secure cardholder information. We are a PCI Compliant Encryption Service Organization and key holder for most major banks, processors and acquirers. Our key injection services occur at our state-of-the-art fully secure facility per PCI requirements and, depending on the terminal, we have the ability to remotely key inject terminals over a secured IP network.
Complete Point of Sale System Refreshes: POSDATA offers a full portfolio of services to configure and deploy your point of sale systems. Our managed services include product imaging, configuration, custom packaging, deployment, radio frequency site surveys and on-site installation services.
Ongoing Service and Support: You need a team of tech support specialists who can provide instant advice and service at the first sign of trouble. Our extensive long-term managed services portfolio includes on-site & depot repair, warranty management, mobile device management and e-waste disposal.
When you are ready to start the conversation about your point-of-sale system services, Contact Us!
POSDATA, a service partner you can trust.