When your payment data is not secured, it’s like leaving the front door of your business unlocked. Criminals can come in, take what they want, and leave you financially and emotionally stressed. But unlike physical theft, cyber thieves are not just stealing from you—they are stealing from your customers, too. This means your business’ hard-earned reputation can be ruined overnight, especially if the data theft incident makes the morning news.
What’s more, due to standards set by the PCI Security Standards Council to prevent data theft, if cardholder data from your business is compromised and you’re caught in noncompliance, not only do you have to explain to your customers why you failed to secure their sensitive information, but also deal with sizable fines and penalties imposed by the card brands. These fines and penalties can end up being more than your business can afford to pay, potentially putting you out of business for good.
So, what are you doing to secure your business from card data theft?