A point of sale or POS system is the key to if a business is successful or not. Even though many factors like the point of sales software, the features, limitations, and cost are important, many business owners overlook the most critical part of a POS system, which is its security.
POS security is complex, and there are huge updates that happen regularly. Business owners have to deal with POS security because the benefits of accepting credit cards are so high. To help you understand POS security, here are some tips from experts to secure your POS system.
1. Make sure that the POS is PCI Compliant
When you are looking for a POS, you should make sure that it meets all the required regulations for accepting major credit cards. There are changing regulations and requirements that occur regularly.
Most of the updates to the regulations are to protect your customers information. This makes it very important that you are updating your POS system to make sure that all the data your business gathers is safe. If any information is leaked, you will be responsible for the damages caused by the leaks.
2. Update Your POS Software
It can be very tempting to avoid having to take the time to update all of your devices with the latest software. However, you should make sure that all your devices have the latest versions installed. Using outdated software places your businesss and customers information at risk. Most updates only take a few minutes and can be done on individual devices. This can help your business to run efficiently, even when updates are being done.
3. Use Encryption Tools
Security has become a growing issue with electronic payments. You should make sure that you are using an encryption tool to protect the information that your business collects. Some software will come with an encryption tool built-in, but you should be using your own. Encryption protects data by changing its form to make it unreadable unless you have the cryptographic key.
4. Isolate the POS System
Many small and medium businesses have their POS software connected with other business technologies. This is horrible idea because a hacker could steal all your businesss data by hacking your POS systems. Many times, POS systems are the weakest link in the chain because they are exposed to the public. Hackers have been using their smartphones to steal information or implant programs to gather information on POS for the last few years.
This is why you need to have your POS system isolated from the rest of your technology. The more isolated that you can have the system, the better. The best option is to have restricted data flow from the POS system if it needs to be on the same network as other technology your business uses.
A POS system is necessary even if you want to accept credit and debit cards. They can offer a huge amount of benefits to all sizes of businesses, but their software can be complex especially when it involves their security programs.