Credit Card Data Breach – What It Costs Your Restaurant

True Cost of a Credit Card Data Breach for Restaurants

Keeping you restaurant’s payment data safe should be at the top of your list of priorities. A breach in data can become very costly for your restaurant very quickly. According to Forbes, “Breaches can carry a hefty price tag for restaurants. For every piece of data breached, it can cost an average of nearly $150”. This means that if 5,000 credit card numbers are breached, it will cost you on average $750,000. Not only can a breach cost lots of money, but if the breach becomes public knowledge, it can cost you loyal customers that feel their data is not secure at your restaurant.

Restaurants: Secure Payment Options

Luckily, there are payment options that can minimize the ability for your payement data to be breached. Introducing encrypted NFC and EMV payments in your restaurant is your best defense against a breach. Both of these options give you a much higher level of payment security compared to traditional swipe payments.

Restaurant Payment FAQs

What is NFC?

• NFC stands for Near Field Communication and is short-range wireless technology to make secure payments between a contactless chip card or payment-enabled mobile/wearable device and a contactless-enabled checkout terminal. When you tap your card or device near the Contactless Symbol, your payment is sent for authorization.  Anytime you pay with Apple Pay, Google Pay or Samsung Pay on your phone or watch OR use a credit card with the contactless indicator

• – you are using NFC technology.  In 2020, there was a large adoption of NFC payments due to COVID-19 and the desire for touchless experiences.

What is EMV?

EMV stands for

® and refers to the increased security of payment card transactions through the use of a chip embedded in credit, debit, and prepaid cards.  Chip cards are extremely difficult to duplicate, and paired with additional layers of security such as encryption, tokenization and other authentication techniques, EMV is geared toward significantly reducing card payment fraud. Since October 1, 2015, liability shifted from issuers to merchants meaning merchants who accept credit cards in a face-to-face environment must upgrade to chip-compatible equipment to avoid potential losses due to fraud and chargebacks.

Are NFC payments also EMV?

Yes – NFC payments utilize the same level of encryption and are secure EMV transactions

What is P2PE?

• P2PE stands for Point to Point Encryption. P2PE protects (encrypts) payment card data from the point of capture, such as when the card is read by a card payment terminal, until it reaches the secure decryption endpoint. Encryption is the process of converting the payment card data into an unintelligible form.  Using a correctly implemented, PCI SSC listed P2PE Solution in your business has the following benefits:

• Lowers the risk of payment card data loss – data is encrypted at the point of capture and cannot be decrypted in your environment;
• Reduces the extent of your PCI DSS assessment scope – you can consider any connected Point-of-Sale system, your network and other components/devices sharing that network to be out of scope;
• Simplifies PCI DSS compliance – fewer applicable PCI DSS requirements, simplified compliance assessment, and a potential reduction in the cost of maintaining compliance.

This is where Ziosk can help your restaurant. Ziosk offers both EMV and NFC payments directly at the table, which is not only secure from a data perspective due to being encrypted, but also physical security since your credit card never leaves your hands.  Upgrading secure payments for your restaurant has never been easier with Ziosk.

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