About Securing the POS System
Most businesses (small or large scale) use the POS system for consumer goods businesses. With this system, professionals like field boys, back office staff, and many more can sell merchandise easily.
It is the most sought execution solution for retailers. POS system is highly regarded for its performance. POS system aims to develop a secure environment for transactions.
Learn more about securing the POS system.
Chronicle of Events
Here is a chart of events to understand the changes made in POS over the years.
This is the whole background of POS. These days, POS has become strong for financial, promotional, sales, and operational processes. With the growth of technology, POS systems are even more revolutionised.
Need For Securing POS system
Due to both known and unknown threats, POS security is challenging. Due to the increasing number of threats software regularly update POS malware. You should also update your POS malware regularly.
Businesses that depend heavily on POS systems should prioritise POS security. For example, if you’re running the GST Suvidha Kendra® franchise, you can use a secure POS system. POS system deals with sensitive customer data. You can save yourself from vulnerabilities and ensure keep a good reputation.
Businesses must implement strategies to take care of their transactions and protect the POS system. This will help them to avoid costly incidents of POS security. They should train their staff to secure the POS systems and their policies.
Threats to POS Systems
Your POS system must have a secret and password-protected network. An unsecured network can cause many problems. Here, are some common threats to POS systems:
The skimmer is a small device that can catch victims’ personal information used by identity thieves. It can occur during a legitimate transaction at a business. It occurs when devices are illegally installed on the POS system.
POS Malware is a software that is mostly used by cybercriminals. It is malicious in nature. With the intention of obtaining credit card and debit card information, it targets POS terminals.
How to Secure POS Systems?
Businesses follow many methods to secure the POS system. Some of them are:
- Encrypt all POS data at the time of entry. Decrypt it at the time of the payment process. Implement application whitelisting. It will permit access to only essential applications on a POS system. The apps that can add risk like the web, email and browsers should be blocked.
- Run antivirus software regularly.
- Use a strong password and a two-finger authentication system.
- Regularly check POS systems for anomalous activity and an indication of threats.
- Vulnerability testing can address the abnormalities.
- Think about physical security for your POS device. Train your employees to look out carefully.
Types of POS systems
1. Mobile POS System
Smartphones and tablets can be used for processing payments. This is a perfect POS option if you don’t manage many records. You can send the receipt to the receiver by giving them the option of mail. You can also work with a handy receipt printer.
2. Tablet POS System
Android and iPad are popular POS systems. It requires minimum input. Some tabs POS services are free of cost on credit cards. Others need a very less monthly subscription fee.
3. Terminal POS System
It is a hardware and software-based system. A Terminal POS system is used to observe at the counter. This system restricts employee internet access.
4. Online POS System
In an online POS system, you can choose your hardware like a PC or tablet. It has minimal startup costs. But, a PC can’t give you the pleasure of a touchscreen.
5. Self-service Kiosk POS
6. Multichannel POS System
If your customers are from a different location then a multichannel POS system will help. It combines all your sales across your social media pages, online store, and storefronts.
7. Open Source POS System
It customises your POS software interface to perform exactly how you want. Large businesses with one-of-a-kind POS need to choose an open-source POS system.
What type of software and hardware does the POS system use?
Although every POS system uses software, not all businesses need POS hardware. For example, in a cafe, you need a card reader and a register to maintain this. However, you don’t need any o the equipment if you’re running an online store.
Here are some software and hardware that can be used in the POS system
It allows you to accept payments. Your POS system can store cash in print receipts, drawers, and scan bar codes. The lists of hardware are as follows:
- Connected Devices such as iPad or tab.
- Credit card reader
- Cash Drawer
- Bar code scanner
It is like a command centre. After each sale, POS systems also take care of your bank account.
After each sale, some POS solutions take care of routing funds from the bank account to process your transactions.
- Light Speed
- Revel System