Recently I have written several articles about PCI DSS security measures that have been enacted by the major credit card companies and how they affect your business. Here is a link to an article from CNN.COM regarding a major credit card data breach at Global Partners, one of the largest payment processors in the industry. The CNN article highlights how vulnerable our credit card system really is and how much more there is still to do in order to secure our credit and capital.
With over 10,000,000 customer accounts potentially compromised, there is a chance that you may be affected. You should closely monitor charges to your credit cards and quickly dispute any unexpected activity, in the event that an unexpected transaction shows up. Remember that you must dispute the charges in order to get them removed from your account and depending on the credit card company, you may have as little as 30 days to dispute inappropriate charges!
Clearly we have a long way to go before we can do away with currency and move to a 100% electronic cash system. Are you 100% card based or are you still carrying “emergency” cash around?
Want more information on how Credit Card Security is affecting small business owners? Here are a couple of other articles that may help: