We all hate data breaches. From consumers to merchants to processors, data breaches are bad news for everyone, and they can do damage that we cannot even fathom. While someone could steal your money, they could also steal your identity, and take on their own persona of you with this stolen information. While it may seem like data breaches are here to stay, upcoming changes to the card industry may help curb these hackings, and keep everyone more secure.
One of the biggest issues is the overall effect data breaches are having on the processing industry. Most of these hackings are happening to big-name companies, from Target to Panda Express, and Ashley Madison. These breaches make the processing industry unsteady, because such big-name companies should have the best processors. They probably do, however hackers are so advanced that they can get through any security in place. This leaves everyone vulnerable, because there is not much that the industry can do. It’s leaving some without processing accounts, but thankfully there are options for those businesses.
While the “high risk” industry once got a bad rep, it is more common these days. Hackings and fraudulent charges are becoming more and more common, even amongst businesses that are not typically considered to be “high risk”. High risk merchant accounts are something that every business owner should look into, as these account processors typically have the knowledge and experience to deal with the fallout from a data breach.
Another good thing for the industry – and consumers – comes from the chip and PIN cards that are supposedly coming in 2016. These cards will replace our old signature credit cards, and they are, so far, virtually un-hackable. They have been used successfully in Europe for years, and while processors, merchants, and consumers are clamoring for these cards, the government is holding up their release. We hope that they will be released next year, but if not, merchants should check into a high risk merchant account from eMerchantBroker.com, regardless of their industry. These accounts are not much different from a traditional account, and you should consider making the switch.
Blair Thomas is the co-founder of eMerchantBroker.com the #1 high risk Credit Card processing company and he could help get you an SEO merchant accountat great low rates! He has been in the electronic payments industry for over 10+ years. When he isn’t running his business he spends his time writing and producing music, which has been featured in a variety of films.