When electronic payment devices have come to the end of their useful life in your stores or restaurants, it’s critical that steps are taken to ensure criminals can’t use your equipment to commit fraud. Follow these important steps to keep your business safe and ensure you are following PCI requirements as well as certain U.S. laws.
PCI and U.S. EPA laws require the correct disposal of electronic payment devices in order to both protect the environment and prevent malicious use of the terminal by bad actors intent on subverting current security options.
In order to prevent these challenges, merchants need to remember the following steps:
- Call Vantiv with notification of your plan to dispose of the terminal. This will initiate a process to clear the memory of the terminal as a first step to disposing of it.
- DO NOT SKIP THIS STEP! Clearing the terminal memory is critical to protect your business. Bad Actors can masquerade as a legitimate charity or business to acquire old terminals that are then used for fraudulent activity. As valuable as sensitive card information has become, stored merchant information in an older terminal can be used to facilitate merchant fraud.
- If you did not purchase from Vantiv and are unsure how to clear the terminal memory prior to physically disposing of the device, contact the terminal manufacturer.
- Remove all tags and store or business identifiers.
- Find your closest recycling center, nearly all have electronics disposal options that are free of charge.