Small business owners have a lot to handle these days. Corner stores compete against eCommerce giants, point-of-sale systems have jumped to the cloud and your customers want quicker and easier ways to shop.
The challenges can be intimidating, but as the realities of owning a small business change, the fact remains that we’re still here to help you navigate it all.
We invite you to jump into the first edition of Small Talk in which we spotlight some of the most important trends and opportunities facing small businesses today.
What small business owners are saying
We did some digging and discovered that almost 44% of small businesses reported being a victim of a data breach. And of the small businesses that experienced a breach, almost 31% spent over $50,000 to fix the problem. If the cost isn’t alarming, 20% of consumers reported they would no longer shop at a small business that experienced a data breach.1
When you consider what it takes getting back to business as usual, including all the fees from professional services firms, legal counsel and public relations advisers, you can understand why costs can be so high.
Take precautions before it’s too late
It’s not all doom and gloom, though. You can take some simple, low-cost steps to help protect yourself and your customers. For example:
If you have questions about protecting your business and your customers’ payment data, visit Security Solutions or call 800.430.7161 and we’ll be glad to assist.
Natural disasters can be devastating for homes, communities and businesses, too. After a tumultuous 2017, we know small businesses across the country will once again face destructive hurricanes, wild fires, tornados and more this year.
In the event your business lies in the path of dangerous weather, here are a few ways to prepare:
We know natural disasters are unpredictable. We’ll always be there to help you get your business back on its feet.
It can happen to any business. You make a sale only to find out days later that the customer is disputing the transaction.
It turns out disputes can be caused by a number of things, including simple mistakes, misunderstandings and yes, fraud. Here are a few of the most common causes and how to resolve them.
Purchase dispute: (verb) The act of a customer questioning the validity of a transaction that was registered to their account.
How to help reduce disputes
Each issue of Small Talk we will answer some frequently asked questions from small business owners like you. You may learn something new!
Q: What is TransArmor® Data Protection and how does it help me?
A: TransArmor Data Protection helps protect card numbers by encrypting them from the moment of swipe, dip or tap. Card numbers are converted to tokens at the time of the authorization response and stored in the POS device. A token is a randomly generated number assigned to the card number that can be passed through the internet or other wireless networks needed to process the payment. These tokens are of no value to cyber criminals.2
Q: Why do I have this data protection on my account?
A: To help protect you from the impact of a data breach, all Clover® devices come with TransArmor Data Protection at no extra cost. You can also add the protection to other eligible POS equipment for an additional monthly fee. Along with providing an extra layer of security, TransArmor Data Protection can also help you reduce the time and effort associated with completing Payment Card Industry Data Security Standards (PCI DSS) compliance.