“Within the last month, Wendy’s, the nationwide chain of fast-food restaurants started investigations that they were victims of multiple cases of credit card fraud,” says Danna Powers of Direct Processors. “The breach was discovered,” Powers continues, “After a series of cards were linked to a pattern of fraud and used at multiple Wendy’s locations.”
Why is this news to your small business? Wendy’s, a national chain, has been breached. A multimillion dollar business started noticing discretions in the Midwest, but stores on the east coast and south were all reporting issues as well. Wendy’s has hired a cybersecurity firm to investigate and stop this theft.
What does that mean for your small business? Most small businesses are not going to have the funds to be able to hire a cybersecurity firm to investigate and stop this fraud. It is expensive and time consuming. There is a way to fight this type of fraud without the high costs a company like Wendy’s has incurred. Upgrade your terminals to EMV compliant processing.
On October 1, 2015 all businesses that process credit cards were required to upgrade to EMV compliant terminals. Using a compliant terminal will stop the type of fraud that many companies had to deal with before this mandate. But even now, only 60% of businesses have updated their terminals and only half of those updated terminals are actually using the EMV slot, called dipping, to process their credit cards.
Powers says, “Teaching your staff the proper way to use your new EMV compliant terminals is a priority to stopping credit card fraud in your small business. Remember,” she states, “If you swipe and the card is stolen or fraudulent, the business, not the bank will be liable for the charges incurred.”
Direct Processers is a merchant services provider for all types of business across the country. Direct Processors offers all merchant EMV compliant terminals and competitive merchant services for all small business.
Company Name: Direct Processors
Contact Person: Danna Powers
Phone: (844) 838-3086
Country: United States