Why Do I have To Update My POS System?

You just paid thousands for a brand new POS System and now you’re being solicited to pay more money for upgrades. You’re extremely hesitant and do not think you need to do it. The reality is that you do and here’s why…

There are three recent updates that must be done in order to keep your POS System current, up to date and in compliance! If you do not, then you will be subject to fines much greater than the costs to upgrade your system or get a new one!

EMV Chip
Make sure your credit card data is safe! Use an EMV chip card.

The first and most crucial upgrade is for SSL Security. This is called POODLE. “POODLE or Transport Layer Security (TLS) is an encryption protocol approved by the Payment Card Industry. What’s important for merchants to understand is that it keeps customer data safe through encryption and ensures no third parties can eavesdrop or tamper with messages when servers and clients communicate. It’s involved in every step of the payment chain.”(Retail Touch Points) The fines for not having this implemented by July 1st 2018 can be astronomical! At minimum, expect to pay a few thousand in fines!

Next on the list of mandatory compliance upgrades, is one upgrade that has already been spoken about yet hardly anyone has implemented it! EMV Chip technology. We have seen it everywhere. Stores either do not have a chip reader or they do and don’t use it! Instead they have a piece of paper in the slot that says to swipe do not insert. This is not something you should be doing! EMV chip technology helps to prevent credit card fraud. By using it, it will not only protect the buyer but it will protect you (The Merchant). When the buyer uses the chip it creates a onetime transaction code. If this code is stolen by a hacker, they will not have access to much information. If a hacker steals the actual credit card information (which your system gathers when you swipe) you are liable for all damages and your cyber insurance (Which you should have) will not cover you!

Bank security
Make sure you are PCI compliant!

The last mandatory upgrade is for MasterCard. MasterCard has announced a new credit card that will start with the number 2. If your machine does not accept the new MasterCard, you are subject to fines at a minimum of $1,500 per failed transaction! It goes all the way up to $15,000! I can guarantee you that if you fail to upgrade you won’t be in business very long.

If you think your machine is outdated, you can check by calling your provider. You can also get a brand new POS System from Progressive Payment Solutions for FREE! This system is always up to date and upgrades never cost you anything extra! You can contact them for a free consultation.

Don’t let upgrades stop you from doing business! Upgrade your machine now and sleep well at night!