Foreword Online

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Should Cybersecurity Be Shared With Your Customers?

Posted by Liz Schulte on 4/26/17 5:30 AM
Topics: data security, customer experience, centennials

Traditionally in business, cybersecurity is something that happens in the background and with the hope the customer never notices it is there. The steps a company or institution takes to protect those who use their sites have been hidden from plain view. However, the ongoing publicity surrounding high-profile security breaches have made consumers want reassurance that their information will be secure with your business.

Should Cybersecurty Be Shared With Your Customers?Consumers have access to more choices when it comes to any product — course materials, education and spirit wear included. As Generation Z populates college campuses, brand loyalty isn’t there. That generation is looking for experiences and are much more pragmatic in their purchases. They expect to be able to go from a website — which scales to their screen size — to the app and then to the store in a seamless experience, but more than that, they expect the information they share with your business is safe. In the rapidly-changing, digitalized financial industry, your store is expected to process payments in the most secure way possible.

With breaches in large companies like Target, Sony and even the U.S. government, financial security is now a real part of consumers’ concerns whether they are placing an order online or using a credit card in a store. The antiquated idea that the ways your business is protecting its customers could ruin the customer’s experience has been replaced with consumers’ willingness to forgo some convenience in favor of security. Consumers have adjusted to new payment technology (microchipped cards) and even modified their online behavior for a safer shopping experience.

MBS Systems has worked diligently to make sure the newest, safest technologies and protocols are in place and easily implemented in your store to protect both you and the customer.

  • P2PE: Point-to-Point Encryption means that data is rendered unreadable between the card terminal and your processor’s data center. Encrypting at the PIN pad, the data never interacts with your POS software
  • EMV-enabled PIN pads: Microchipped cards are designed to protect against counterfeits by generating unique, unforgeable information with each transaction.
  • NFC capable PIN pads: You can accept methods of payments such as Apple Pay® and Android Pay™ as part of our P2PE package, providing both convenience and security
  • Tokenization: Tokenization provides an additional layer of security by tokenizing the identifier created from the P2PE interaction. This can be used to retrieve card information for returns and for charging non-returned rentals

More than 60% of Americans have experienced some form of a data breach and about half do not trust sites to protect their data. Taking a small step to communicate that your business is doing its part, will instill confidence and raise your store a step above the competition.

Find out how MBS can help you reduce overhead, save students money and  streamline operations with a tailored retail management system. Learn More

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