Navigating security: Your essential guide to POS compliance 

In today's rapidly evolving business landscape, where digital transactions are the norm, and security threats lurk around every corner, point of sale or POS compliance has become an essential safeguard for business in a wide-range of industries. 

Chargebacks, negative customer experiences, and interrupted services are only some of the possible consequences of non-compliance and not taking security measures seriously. Not only is compliance key in keeping customer data safe, but it’s a necessary component to keep your business running smoothly. 

From building trust in retail consumer experiences to ensuring seamless dining in restaurants, and safeguarding sensitive patient information for healthcare providers, POS compliance stands as the unifying element for secure transactions. In this blog we’ll shed light on a broader spectrum of business compliance measures in the retail, hospitality and healthcare industries. 

What is POS compliance? 

POS compliance refers to the adherence of businesses to industry standards and regulations governing the secure processing of financial transactions at the point of sale. 

While compliance might seem like another layer of red tape for small businesses, it’s never been more important. As the world becomes more and more digital, cyberattacks and fraud are on the rise. According to Mastercard, breaches of SMEs grew 152% in 2020 and 2021 compared with the prior two years—a figure twice as big as that of larger companies over the same period.

At its core, POS compliance is about safeguarding sensitive customer information during transactions, minimizing the risk of data breaches, and ensuring the integrity of financial transactions. 

Security in merchant solutions compliance involves implementing robust measures to protect payment systems from various threats, including unauthorized access, malware, and fraud. Compliance is essentially one of many ways to keep threats at bay and keep you and your customers safe. 

How to stay POS compliant

There’s more than one way to stay compliant. At the end of the day, the more you implement, the better off your business will be and the harder it will be for bad actors to create any disturbances or access sensitive information. 

Access control and authentication 

Managing user access to your POS is a great way to reduce security risks. This basically means, limiting system access to authorized personnel only, and using strong authentication methods, such as unique login credentials and multi-factor authentication, to prevent unauthorized individuals from gaining entry to POS systems. 

Make sure to regularly review and update access permissions based on job roles and responsibilities.

Regulatory compliance 

While some payment system compliance measures are up to the business, others are industry standards like PCI compliance that are required by card networks. Adhering to industry standards keeps your business on the right track and provides customers an additional safety assurance and makes sure you’re able to accept multiple payment types.

Encryption technology and security measures

Measures like end-to-end encryption for all sensitive data transmitted during transactions helps ensure that even if unauthorized access occurs, the intercepted data remains unreadable and unusable. Using strong encryption algorithms also helps protect customer payment information from being compromised. 

Additionally, making sure your POS system operates within a secure and isolated network is key. Implement firewalls, intrusion detection and prevention systems, and regular security patches to safeguard against network-based attacks and limit the impact of a security incident. 

Training and monitoring

Business compliance should be an ongoing part of your day to day. Conduct regular security audits to identify vulnerabilities and weaknesses in your POS system. Train your staff on security measures and create processes for continuous monitoring of network traffic, user activities, and system logs to quickly detect anomalies or suspicious behavior promptly. 

Automated alerts can also be set up to notify administrators of potential security incidents, allowing for a swift response to mitigate risks.

Staying compliant in retail and hospitality 

In the retail and hospitality sector, where transactions occur on a daily basis, POS compliance is paramount. Retailers and restaurateurs need to focus on a wide range of initiatives to ensure safety including: securing customer data, preventing fraudulent transactions, and enhancing the overall customer experience. Additionally, compliance software can automate inventory tracking, monitor sales trends, and ensure adherence to industry regulations, creating a seamless and compliant business operation. 

Accept more payments with EMV compliance

Businesses seeking comprehensive payment system compliance must extend their focus to EMV (Europay, Mastercard, and Visa) compliance. EMV compliance involves the use of chip-enabled cards, significantly reducing the risk of counterfeit transactions. 

Upgrading POS systems to accommodate EMV technology not only enhances payment security but also positions businesses to accept a broader range of payment methods.

In the era of chip-enabled cards, consumers expect heightened security measures. Adopting EMV compliance not only meets these expectations but also serves as a strategic move to future-proof businesses against potential fraud. The versatility of payment options, combined with robust security features, not only enhances the customer experience but also safeguards businesses from the financial and reputational repercussions of data breaches.

Embracing PCI compliance

PCI compliance, or Payment Card Industry Data Security Standard, is a set of security standards designed to ensure the secure processing, storage, and transmission of credit card information during financial transactions. Developed by major credit card companies, PCI compliance is crucial for businesses that handle credit card transactions. It’s basically a series of requirements aimed at protecting sensitive cardholder data from unauthorized access and potential breaches. These requirements include implementing secure network configurations, employing robust encryption methods, conducting regular security assessments, and maintaining strict access controls. 

PCI DSS serves as the foundation for payment system compliance.  Achieving and maintaining PCI compliance is a multi-step process that demands meticulous attention to security measures and best practices for all types of businesses. 

Implementing safety and compliance in the healthcare industry 

While all customer data is sensitive, the exchange of sensitive patient information in healthcare services demands a specialized approach to POS compliance. Beyond PCI, healthcare compliance, particularly under the Health Insurance Portability and Accountability Act (HIPAA), is critical. POS systems in healthcare must incorporate specific industry measures to protect patient privacy. 

Merchant compliance software can aid in everything from billing to scheduling and reporting, ensuring that healthcare providers not only meet HIPAA standards but also foster trust by responsibly handling patient data.

HIPAA compliance healthcare POS

So what is HIPAA? HIPAA compliance sets stringent standards for the protection of patient data, demanding a specialized approach to POS compliance in healthcare services.

HIPAA-compliant healthcare POS systems are designed to ensure the secure handling of patient information during billing and payment processes. These systems incorporate encryption protocols, access controls, and audit trails to safeguard patient privacy and maintain business compliance with industry regulations.

For businesses operating in healthcare services, selecting a POS system that integrates HIPAA-compliant features is not just a regulatory requirement; it's a commitment to ethical and responsible handling of sensitive patient information. HIPAA compliance not only mitigates legal and financial risks but also fosters trust among patients, who entrust healthcare providers with their most intimate details.

Stay POS and PCI compliant with Sekure

Staying compliant isn't a one-time task; it's an ongoing commitment. From regular security assessments and proactive monitoring to immediate response protocols there are many things your business can do to stay ahead of any potential threat.

As a business owner, you shouldn’t leave payment and POS compliance to chance. By partnering with Sekure Payment Experts, you get access to industry-professionals that specialize in providing POS and payment solutions and advice, ensuring you get the most robust compliance solutions, as well as the tools and expertise needed to stay safe against potential breaches. With Sekure’s PCI Plus program you get all the help you need, plus Sekure helps you reduce and even say goodbye to fees like non-compliance fees, PCI fees and program fees. 

From getting you set up with secure payment gateways to cutting-edge encryption technologies, Sekure empowers businesses to stay at the forefront of POS compliance. 

With Sekure, you’ll have an ally that has your back and makes sure you’re ready to adapt to the ever-changing landscape of payment security.

Talk to one of your Payment Experts today to get started in your POS and payment compliance journey.