Choosing your first POS would bring some rush of excitement in you. At last, you are going to join the league of businesses who have taken advantage of this technology. The success of your business is associated with your ability to choose the right POS software.
You may have probably decided on the application you want to use after considering critical factors such as cost, features, and limitations. They are all important, but you also need to look at security. The regulations governing security are quite complex and to make matters more tasking, there are always changes to security which needs keeping up with frequently.
You need to take the issue of security seriously since you would be accepting credit card payments. You must protect your business and your customers by having a POS with adequate security in place. The following are security tips for choosing your first POS:
1. PCI Compliance
Regulations are guiding POS Software if it is to be used in processing credit card payments. You need to be sure that your choice meets this requirement. One of the policies which your POS Software needs to meet for accepting credit cards is to use only EMV chip-enabled applications. This new credit card regulation is compulsory since you want to be a merchant. There is the version 3.1 of the Payment Card Industry Data Security Standards (PCI DSS) which merchants are also expected to comply with. Those who fail to comply with the new PCI 3.1 standard are expected to face steep penalties. You definitely do not want to pay penalties just yet, at least not on your first POS Software. It is believed that the necessary measures taken by vendors should not prevent you from making sure that your business is compliant.
2. PCI Standards Governing Merchants
Now that you know you must be PCI-compliant if your business accepts credit card payments for the goods and services you sell, you probably understand why you should not fail to check for this. As you follow the rules for credit card processing as stated by the Payment Card Industry Data Security Standard (PCI DSS), you must ensure that your POS meets the PCI standards governing merchants.
3. Ask Your Service Provider for PCI DSS Proof
If a customer’s information leaks through your end, you may find yourself battling to avoid paying financial damages. It is, therefore, important that you ensure that your POS Software meets the PCI compliance. One way to be assured of your position is to ask your service provider for proof that they have scaled the PCI DSS evaluations. Since it would not matter if you use a third-party service provider should your customer’s information leak, asking your service provider for this proof to save you from getting into unnecessary problems.
These security tips are necessary for you to avoid paying any penalty. It also saves you the hassles involved in a legal battle. After carefully considering the features of the POS software you settled on, an extra caution to confirm the security of the POS would not hurt you.