Point of sale security is something every retailer needs to focus on. Regardless of the size of your business or industry its in, if you accept credit cards or have an e-commerce solution, you are a target to the new age of robbers. There have been several major breaches so far this year, and the latest news can be troubling.
According to an article from Forbes, this week Target has disclosed the final costs of the data breach and changed its guidance on sales and earnings. The breach itself cost Target $148 million. When compared to the $72.576 billion in revenue that the company reported in 2013, that is not a major number. However, the endless bad press and dropping sales numbers are taking their toll on 2014 numbers.
More big news came this week from P.F. Chang’s China Bistro. The company announced in mid-June that it was the victim of a security breach. Now, it has released the scope of the attack as the investigation is still ongoing. According to a statement on the company’s website, the breach happened in increments over eight months and affected 33 different stores from all over the country. The first incident happened on October 19, 2013 and lasted until June 11, 2014.
Businesses need to make sure that their retail point of sale systems are secure at all times. The right reporting and protocols can help any company keep better track of all the sales numbers and act as the first line of defense to credit card security.