The PCI Security Standards Council (PCI SSC), an open, global forum for the development of payment card security standards, has launched the PCI Awareness eLearning program to help businesses understand the Payment Card Industry Data Security Standard (PCI DSS). The necessity for all businesses to be informed and proactive to protect their payment data and other sensitive data was never more apparent in light of multiple recent data breaches affecting millions of card holders.
According to The Nilson Report #1023 (August 2013), U.S. payment card fraud increased 14.5% in 2012 to $5.33 billion, with U.S. counterfeit fraud alone accounting for 26.5% of all global card fraud in that year. This clearly demonstrates the need for a solution to help combat card fraud. Enter EMV®, a joint venture of the major credit card companies.
According to Verizon’s 2014 Data Breach Investigations Report (DBIR) nine out of ten of all breaches can be described by nine basic patterns. One of these patterns has been labeled as a Point-of-Sale (POS) Intrusion.
Money transfers made through companies such as Western Union and MoneyGram have long been a popular means by which scammers get paid by their victims. These days, fraudsters have moved on to prepaid cards.
Mobile credit card processing can be an essential business solution. Whether you are just starting out — or you are ready to branch out — consider using mobile point-of-sale (mPOS) technology to help your business grow.