As a retailer one of the most important features at the checkout is your POS system.

One of the most crucial factors to consider while purchasing the POS is security. Commonly overlooked. This feature can compromise the security of transactions and data. So, it is essential to add additional measures to protect the POS environment and secure the data from the attack. POS security can be challenging considering the complexity of the POS system, making it vulnerable in many areas. A number of threats posing for POS security are both unknown and known as POS handles sensitive data and breach to this information can damage the reputation of a business. Businesses should implement security features and train the staff so as to avoid the security breach of the POS environment.

POS attacks can come in various forms. Here are some of them.

Phishing –

Phishing is a cybercrime where sensitive information such as credit card details, names, passwords are obtained by disguising as a legitimate entity or institute. If the hacker is successful to access the POS, a huge amount of sensitive data can be compromised.

Sniffing attack –

In this type of cybercrime, the interception of data is done by monitoring and capturing network traffic. Hackers can capture and analyze this data containing the transaction details, customer details, and other sensitive data.

Malware –

Once installed, malware can damage and tamper with the POS environment and a hacker can get his hands on the sensitive information.

If by any chance, the cyber attackers get access to the POS, they have access to all the information and can control your POS environment. Whatever the method, the POS attacks generally include the following steps.

  1. Infiltration
  2. Network traversal
  3. Data capture
  4. Exfiltration

What will be an ideal POS security solution?

The most important points to be considered while choosing an ideal POS security solution are – PCI DSS, EMV, Tokenization, Encryption, and employee awareness and training.

PCI DSS  or Payment Card Industry Data Security Standard is a set of security, operational, and technical standards for any and every firm that accepts and processes online transactions. For any business that processes and handles online transactions, it is mandatory to be compliant with PCI DSS

Tokenization processes the sensitive details and converts them to a sequence of random characters called tokens. If breached these tokens have no meaningful value. Encryption processes the information and converts it into a code to restrict unauthorized access.

But the most important factor is, to spread awareness among the staff and training them accordingly. It is vital that the staff understands the importance of security measures and handle the POS system. Keeping your POS environment software and hardware up to date is as important as keeping your staff up to date with all the technicalities. It is also important to train the employees on the cyber environment and how to maintain the best security practices.

What You Can Do To Ensure You Are Protected

  • Use strong passwords
  • Use 2-factor authentication
  • Use firewall, antivirus, anti-malware software
  • Use end to end encryption
  • Don’t connect your POS to external Networks
  • Try not to store any customer data except what you absolutely need
  • Don’t keep any unnecessary programs or apps on any of your secure POS devices
  • Keep POS hardware and software updated
  • Limit outgoing internet connections to only relevant servers and applications
  • Apply strict network segmentation
  • Monitor POS activity regularly
  • Perform regular vulnerability testing
  • Use complex passwords and update passwords regularly

Don’t forget about the physical security of the POS system. Check for card skimmers, tampering with POI components

Lyra’s efficient and secure POS routing solution

Lyra’s POS routing solution is managed and optimized for all types of connections like IP, GPRS, 4G, WiFi, LAN, etc. with maximum security and reliability.

Use Lyra EPOS – To carry out secure, seamless on the spot transactions.

Lyra’s EPOS is a mobile application that performs all the functions a regular POS does and more. Fitted in your hand in the form of a mobile application, Lyra EPOS saves overhead costs and requires little to no training for operating. It is in compliance with PCI DSS 3.2.1, all card schemes, is 3DS secure and equipped with highly secure Lyra Payment Gateway.

Here is how Lyra EPOS can help your business with secure transactions.

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Best Retail EPOS (Electronic point of sale) systems in 2020

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