On October 1, we entered a new era of data security as magnetic strip credit cards phase out and microchipped credit cards take over. Retailers, who didn't take the necessary precautions to make their shopping experience secure, will be responsible for reconciling theft and fraud due to stolen or counterfeit credit cards—a responsibility currently held by the card issuer or bank.
Investing in new microchip readers are going to be costly for brick-and-mortar stores, but what does this mean for online retailers?
Even though chip-embedded cards are becoming the standard, more transactions continue to occur online, and websites are likely to be the preferred target for theft and fraud. Critics are skeptical about the switch to microchipped cards because they don't prevent theft from online retailers, according to a recent NPR article.
As a PCI DSS Level 1 service provider, Branding Brand is no stranger to data security. Our PCI Level 1 compliance means that we meet all the data protection requirements set forth by the major credit card companies for the processing, storage, and transmission of credit card information.
"We focus on securing customer information so that our clients can focus on creating great online shopping experiences for their customers," Branding Brand Director of Information Security Alex Cline said.
There are three core facets to Branding Brand's security precautions:
- We never store credit card information.
- We use the highest levels of encryption to communicate credit card information between our clients and their customers.
- We execute a rigorous security testing schedule to ensure our sites are secure.
"Online shoppers benefit from using our mobile sites and apps because we protect not only their credit card information but also their personal information, like email, name, address, and phone number, all to the same standard," Alex said. "Our clients benefit from using our services because they can rely on us to help their brand build trust with their customers by giving them a secure online shopping experience."