When it comes to data security, most small businesses find themselves in a conundrum. Statistics show that small businesses are most vulnerable to hack attacks and data breach, so it’s critical that their owners take the proper steps to protect themselves and their customers. But how?
The Better Business Bureau (BBB) has one answer: a national education initiative called Data Security Made Simpler that provides solutions and best practices that business owners can use to create a comprehensive data security plan. The BBB’s partners in this endeavor include Symantec Corporation, Visa® Inc., Knoll’s Fraud Solutions and non-profit NACHA (The Electronic Payments Association).
The BBB notes that developing a data protection plan, communicating it and actively implementing it is a key way to build customer trust. “Today’s savvy buyers actively look for tangible signs that a business they’re interacting with has taken the necessary precautions to secure their sensitive customer data. If they’re not confident that you’ll protect their data, they won’t do business with you,” the organization explains. “A solid data protection plan will also safeguard your business’ financial and banking information and the personal information of your employees.”
Data Security Made Simpler focuses on the data security issues facing small business owners, providing concrete guidelines and turn-key suggestions to point business owners towards the solutions and resources that are right for them. It’s broken down into three broad categories — Handling Data, Customer Relations and Data Community — and easy-to-manage chapters with titles like Becoming ‘PCI Compliant’, Data Security and Your Customers, Spotting Identity Theft and What To Do If Customer Data Is Stolen.
From the TransFirst® perspective, security is the foundation of all electronic transaction processing, and we pride ourselves on our commitment to help keep our merchants and their customers safe from the very real threats of credit card fraud and identity theft. Check out the Secure Payment Processing section of our website that offers information about PCI Compliance, our Data Breach Security Program and new EMV® technology.
As the BBB points out, you work hard to earn your customers’ trust, and it can take just one negative experience to break it. “Your ability to keep your customers’ sensitive data secure is one of those make-it-or-break-it events,” it concludes.
Taking strategic, proactive steps to protect all data can strengthen the trust your customers place in you, set you apart from your competition, save you money in near-term and possibly save your business in the event of a significant data loss. Isn’t it worth the effort?
EMV is a registered trademark or trademark of EMVCO LLC in the United States and other countries. www.emvco.com. Marks are the registered trademarks of their respective owners and are not necessarily related to TransFirst.