Risk Relievers: Helping Solve Payment Security and Fraud Challenges

Ever push down on a puzzle piece and have another one pop up? That’s how some merchants, particularly smaller merchants, feel when it comes to the whole picture of payments security and fraud.  And thinking that you’re not at risk is very unwise. Here’s a sobering stat: did you know that 60% of small businesses close within 6 months of a data breach. It’s pretty precarious if you’re uninformed. But it doesn’t have to be. Looking over the payments risk landscape and matching risk with relievers can help.  Covering data security, PCI compliance, in-store fraud and risk-related financial loss, this infographic looks at some of the greatest challenges and their problem-solving counterparts.    

Payment Security Matters for SMBs
Merchant Risks
Data Compromise—keep your customers’ card data away from hackers
- 96% of data breaches target payment card data
- 81% of compromised victims did not detect the breach themselves

How to Solve:

Omnitokens & card data encryption—remove cardholder data from your network. Card data encryption protects data in transit, and tokenization protects data at rest.
PCI Non-Compliance—implement security best practices to protect your payments network
- 77% of SMB merchants do not believe they are at risk
- 80% of data breaches target small businesses

How to Solve:

PCI Assistance—services such as PCI Assist help businesses achieve compliance through tools that guide businesses through the process, conduct virus scans with support from compliance professionals. Once completed, merchant receive a Certificate of Compliance that helps assure customers that your business is secure.
In-Store Fraud—combat card-present fraud as fraud liability has begun its shift to merchants, as of October 1.
- There’s been a 70% increase in fraud in the U.S. since 2004, without EMV
- Fraud is down 80% since 2004 in the U.K. following implementation of EMV

How to Solve:

EMV—EMV decreases card-present fraud and helps merchants avoid fraud chargeback liability. Serious financial loss can result from all of these risks.
- 60% of consumers are hesitant to do business with a breached organization
- 60% of small businesses that are breached close within 6 months

How to Solve:

Breach assistance programs—when all else fails, breach assistance can provide financial help to cover the fines, fees and penalties associated with a breach. From Vantiv, this can include up to $100,000 per merchant to help with the costs of a breach and up to $25,000 per merchant to help with equipment upgrades.

Please include attribution to Vantiv with this graphic.

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