Heartland Payment Systems introduced a solution last week aimed at helping merchants protect against card-present data fraud.
The solution, which combines EMV chip card technology, end-to-end encryption technology and tokenization, features a breach warranty and is designed to combat point-of-sale intrusions, insider misuse, crimeware and other types of card-present data fraud.
“Security breaches against large retailers like Target and Neiman-Marcus get most of the publicity, but there were more than 679 data security incidents reported in the retail and accommodation merchant sectors in 2013, and 285 of them involved confirmed data losses,” Heartland Payment Chairman and CEO Robert O. Carr said. “Unfortunately, the real breach numbers may be much higher, and the FBI believes we can expect more credit card breaches in the US. We designed Heartland Secure as a security solution for customers using POS and other card-present processing methods.”
Earlier this year, the FBI issued a three-page report urging retailers to prepare against additional cyberattacks after the agency discovered approximately 20 cases that involved the same type of software used in the Target data breach in December.
More recently, Verizon released a report that said 2013 could be remembered as the “year of the retailer breach”—POS intrusions represented 31 percent of all retail breaches where data was stolen.
“Most small businesses simply aren’t aware of the extent of data security breaches, or the potential liabilities,” Michael English, the executive director of product development for Heartland, said. “Damage to brand reputation can be devastating, and the fines can be astronomical if a company is out of compliance with Payment Card Industry (PCI) Data Security Standards (DSS).”