Most industry insiders recommend a multi-pronged approach in building a secure POS system. By layering several security strategies, you're less likely to incur the cost of fraudulent transactions or even the theft of cardholder information. Here are three tips to secure your POS solution.
1. Choose PCI-compliant POS solutions
While PCI compliance is required of all organizations that accept, store, process, or transmit credit card data, you'll also want to be sure the POS system you choose adheres to the standard. And that standard is moving to PCI DSS 3.1.
As of June 30, 2015, businesses and other vendors must comply with this updated standard or face potential fines and penalties. The good news is that most payment processors and POS system providers have already addressed these changes.
When considering a new or updated POS system, ask the vendor if your choices meet the current PCI standard. You'll also want to find out what you need to do in order to maintain compliance as you install and maintain the new system.
2. Get EMV-ready hardware
Now that the EMV (Europay, MasterCard, and Visa) transition is in full swing and many consumers are carrying chip cards, it's more important than ever to get your POS system ready to process this new technology. That means upgrading each card reader used in your POS solution.
Compared to less secure magnetic-stripe technology, EMV cards carry an embedded microchip that uses dynamic data in order to keep cardholder information safe. And each payment transaction requires a unique, single-use code, preventing counterfeiting using skimmed or copied card data.
EMV technology works in concert with other strategies to keep cardholder data secure while payments pass through your POS system. And merchants without the ability to process EMV cards now face increased liability for fraudulent transactions—another good reason to be EMV-ready.
3. Install your POS solution on a secure network
The security of your POS system depends largely on the security of your network. It's also important to isolate the payment network from other business systems as much as possible, limiting the number of entry points for potential attacks. Many experts recommend creating a separate network with its own Internet connection for payment processing.
Check your firewall in order to ensure that it's configured correctly and always change log-in and password details for every network device, including the POS system. And don't forget to update anti-virus and anti-malware software regularly.
Most important, realize that you don't have to go it alone when choosing a secure POS solution that's just right for your business. A trusted partner like Ingram Micro can help you navigate multiple options and support you during the selection process until your POS system is installed.
What else do you look for in selecting a secure POS solution?
ABOUT THE AUTHOR
Jeremiah Shea leads Ingram Micro’s DC/POS Payments Program and provides support for vendors like Verifone, Ingenico, Magtek, ID Tech, and Equinox. He has been part of the DC/POS division at Ingram Micro now for five years, working with all facets of the business for strategic execution. Jeremiah has also become the subject matter expert on EMV readiness and overall payments strategy. With a technical background and a sound understanding of the business, he is a great resource to tap for any and all questions relating to EMV, but more broadly anything DC/POS related as well.
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