17 Jun

With the rash of recent high-profile security breaches at Target, Home Depot, and Michael’s, consumers are worried now more than ever about their vulnerability to credit card hacking. If you find yourself the victim of a credit card hack, what should you do? More than likely, you have discovered suspicious charges on your credit card statement. Don’t wait for your bank or credit card company to call you! Contact them as soon as possible to report any possible fraudulent activity. In most cases, you are not liable for any fraudulent charges; they are the responsibility of your account provider or the person(s) using your card. Once you get a replacement card, make sure that you contact any companies that have had your card number on file for automatic, recurring payments.

Replace your PIN number and/or change your password. In addition, run a scan on your computer or mobile device with an up-to-date antiviral program. Contact Experian, Equifax, or TransUnion to request a free credit report Make sure to closely monitor your monthly statements and consider signing up for a fraud monitoring service such as LifeLock or other similar threat detection services that go above and beyond the free monitoring services that most banks and credit card companies offer their customers.

With the rash of recent high-profile security breaches at Target, Home Depot, and Michael’s, consumers are worried now more than ever about their vulnerability to credit card hacking. If you find yourself the victim of a credit card hack, what should you do? More than likely, you have discovered suspicious charges on your credit card statement. Don’t wait for your bank or credit card company to call you! Contact them as soon as possible to report any possible fraudulent activity. In most cases, you are not liable for any fraudulent charges; they are the responsibility of your account provider or the person(s) using your card. Once you get a replacement card, make sure that you contact any companies that have had your card number on file for automatic, recurring payments.

Replace your PIN number and/or change your password. In addition, run a scan on your computer or mobile device with an up-to-date antiviral program. Contact Experian, Equifax, or TransUnion to request a free credit report Make sure to closely monitor your monthly statements and consider signing up for a fraud monitoring service such as LifeLock or other similar threat detection services that go above and beyond the free monitoring services that most banks and credit card companies offer their customers.

Regaining customer confidence

The good news is that , starting in October 2015, all of the major credit card companies will have “migrated” to EMV or “smart card” technology as the standard for credit card technology in the United States. EMV offers enhanced security against credit card breaches due to the microprocessor chips that are embedded into your credit cards or mobile devices. The data stored on the chips is “dynamic” with respect to the storage of your payment information vs. the “static” data stored on traditional magnetic strips.

On October, 1st, 2015, liability for for fraudulent charges will shift to businesses that have not updated their POS systems to be EMV-compliant. Retailers will be “on the hook” if they don’t offer chip-and-pin terminals for accepting smart cards.

The leader in secure, completely in-house payment solutions, Merchants Bancard Network is committed to making sure that they are offering their customers that most secure payment gateway in the industry. If your business is to continue being successful, it’s important that you be able to provide customers with a secure payment gateway system. MBN’s top priority is protecting your customers’ sensitive data.

Protection moving forward

As part of their value added program for agents, MBN provides the tools needed by their agents to help deliver affordable solutions to merchants so that they can stay PCI-compliant and protected. This includes providing online access to important forms, training guides on the protection of customer data, and answers to frequently asked questions about PCI compliance and EMV technology.

MBN will devote its time and resource to making sure that your can provide the most secure processing services and up-to-date hacking protection available to your customers. Contact MBN to see how they can help your business.