PayPartners helps countless businesses in need of a point-of-sale solution. One of the most underrated features of the solutions provided by PayPartners is the security of every transaction. The cost of a data breach can be catastrophic to any small business. Statistics show that the average monetary loss of a data breach is $200,000. Quite simply, a lack of security regarding a transaction can shut the doors of a business for good.
For businesses strong enough to survive a data breach, PayPartners explains that clients’ perception of a business is permanently damaged when word of a data breach gets out. PayPartners helps the businesses they work with never have to deal with these problems as their payment solutions are backed by secure encryption technology. But, for those who have already suffered a data breach, damage control is essential. Companies must come out and offer every victim of the breach some assurance that the new security in place can be entrusted.
PayPartners explains that the best way to combat the cost penalty of a data breach is to invest in prevention. Investing in data breach prevention techniques can help keep risk levels low. There are laws in place enabled by the Data Breach Prevention and Compensation Act of 2019 that must be followed. This bill ensures penalties on businesses that fail to follow regulated processes that were enabled in order to protect the general public while making purchases. All businesses owners have a responsibility to educate themselves and their employees on the importance of data protection. One way to ensure a business is compliant with the law is to utilize the payment solutions of PayPartners.
PayPartners helps prevent two of the most common causes of a data breach. The first is simply utilizing the wrong payment solutions can give nefarious groups access to pivotal business data. Also, the wrong online systems leave payment portals open to malware. It’s important that a payment solution has antivirus software and only allows credit and debit card purchases through encrypted methodologies. PayPartners also prevents businesses from having to ask employees to utilize their own mobile devices to access company systems. Those who ask employees to utilize their cell phones to complete purchases from customers will often see a huge lapse in their security offerings
Ultimately, every business needs to do what it takes to secure not only their own data but the payment information of their customers. While PayPartners is affordable, some will still choose to select the cheapest option on the market. Anything less than the best payment solutions simply are not worth the risk.