Security is one of the biggest concern with online payments, but do you know that the chances of your online transaction being intercepted is almost negligible when compared to the probability of getting mugged?
The whole process of cashless payment transaction has evolved tremendously over the years. Today, you can opt for smarter solutions that make it almost impossible for the intruders to extract any useful information.
There are many ways to make sure you are giving the securest payment options to your customers. Here are a few things we recommend.
Accept Contactless Payment
As a retailer, choosing contactless payment systems can help you establish confidence and trust among your customers. You might have heard numerous myths about the security risk they might carry but most of them myths are based on lack of understanding of the system used today.
Contactless card is based on a technology that renders all the information useless once the transaction is over. When compared to other options such as magnetic strip data, the chances of data theft is almost nonexistent. While there is a myth regarding extraction of data with the use of a long-range RIFD, the contactless card itself is impossible to read from a distance more than four inches. This means the intruder needs to be standing impossibly close to you. So, the myth remains a myth.
Also, contactless transactions require a user to reset the card using the PIN after a number of transactions. This means even in case of loss or theft, the total damage will be limited.
Invest in Secure Card Readers
While contactless payment method has proved itself quite secure and safe. Your card reading device plays a vital role in keeping the payment secure. Since contactless transaction is still in its early years, you will be using typical POS devices for cashless transaction. You should understand that not all devices are created equal. If you want your customers to choose your business with complete peace of mind, invest in a smarter and secure card reader.
Choose a device that uses end-to-end encryption based on TDES, AES, and DUPKT to make sure none of the sensitive information of the user is compromised during the transaction.
The key to keeping it secure is to stay up to date with the smartest and latest in cashless payment technology. UIC is a company committed to making cashless payment more secure by introducing a wide range of products and solutions for contactless and traditional card based transaction. Take a look at their secure card readers.