Will retail POS ever be secure?
The holiday season is fast-approaching, and many analysts are concerned about the economic impact recent data breaches will have on consumer shopping behaviors. Certain studies have indicated that the average household is becoming a bit more concerned about information security and privacy protection, but the frequency and devastation of major events has not truly made them less likely to shop at certain stores.
Still, the general sentiment remains that businesses must begin to be a bit more serious and aggressive in ironing out their retail POS security strategies, as these systems have continued to be the favorite targets of hackers from around the globe. With the right types of POS software, though, these firms can better protect their finances and consumers – not to mention profit margins given the high costs of breach – more proactively and comprehensively.
Clashes strain security initiatives
Bank Info Security recently reported that retailers and financial institutions have been, for lack of a better phrase, at one another's throats in the past few months, pointing fingers whenever a breach takes place rather than working together to get the job done. According to the news provider, the National Association of Federal Credit Unions and the Credit Union National Association were called out by the Retail Industry Leaders Association for a lack of accountability in card information security.
This has been a rising trend that has not benefited virtually anyone involved, as the mentality seems to be focused on placing the blame. In a way, though, the responsibility appears to be falling on the shoulders of retailers, as the source pointed out that one study from the Identity Theft Resource Center found that credit unions are only responsible for about 1.5 percent of the breaches that occurred in the United States this year.
As such, it is time for retailers to step to the plate.
What can be done?
There are a wealth of fortifications that should be in place to protect systems and data from exposure and breach. However, in the retail sector, focusing on access and credential management, as well as control of POS systems, should be the highest priorities, as shortfalls in these areas are among the most common causes of breach in the industry.
By leveraging effective retail POS software and security solutions, businesses might be able to avoid significant damages when the next major
