5 Signs You Have a Dangerous Credit Card Terminal

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With the many changes in legislation over recent years, business owners are now shouldering more liability for data breeches than ever before. Many businesses have shuttered their doors because they were unable to handle the financial damage after being victimized by hackers. The majority of these businesses were small to medium-sized companies, but even larger groups have been hacked.

The biggest reason why they ended up closing their doors is because they risked using dangerous credit card readers – and unfortunately, ended up paying the price. If you want to prevent this from happening to you, it is easy to do. All you need to do is make sure that the terminal that you’re using is a new one, rather than a terminal that’s considered to be high risk.

Not sure if you have a high risk POS terminal? Look for these signs below:

  • Your terminal doesn’t read EMV chips. This is a terrible sign and is one of the very few things that will automatically make you liable for damages done due to a data breech involving customer credit cards. EMV chip compliance is legally mandatory, so if you don’t have this with your terminal, you’re dealing with a very bad situation that needs to be fixed immediately.
  • The terminal in question is over 5 years old. Most cybersecurity experts will tell you that credit card readers need to be updated every five years, or at the very least, have software that’s updated annually. If your terminal hasn’t been updated in the past five years or so, then chances are that you need to replace it soon.
  • You have found a skimmer on your terminal. This occurrence can turn an otherwise normal credit card scanner into a very dangerous device. If this happens, your terminal has been compromised even if you remove the skimming device. Should you find your terminal with a skimmer attached to it, you should disconnect the terminal and immediately replace it.
  • Though you use the terminal fairly normally, it’s been acting up recently. Credit card terminals should not glitch! This could be a sign that you’re dealing with obsolete technology, or it could be a sign that the terminal was hacked. Either way, it’s best not to risk it and therefore warrants a call to a terminal company.
  • The company that makes the credit card reader had a recall. Recalls rarely happen in the credit card world, but they absolutely can. If your POS terminal was named in a recall, you need to address the issue immediately. Though you could ask for a replacement terminal, it may also be a good idea to take the time to see if there’s another terminal that could be better suited or your needs.

At CPS Merchants, we make sure that Canada’s merchants have safe equipment that works with their business model. Don’t wait until you end up being sued for a data breech to keep your company safe from loss. Give us a call today.

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