Hotel Industry Needs To Step & Protect Their PoS Systems
Over the past few years, the attacks on point of sale (PoS) systems at hotels across the world have highlighted the need for hospitality businesses to act in order to protect the future of their company. A lot of experts have expressed that they believe security standards and central support need to be implemented for franchisees in the hotel sector. However, if you are reading this, you should not wait for someone to show you the way regarding cyber security, no matter what industry you operate in. There is no time to wait.
One of the most recent attacks involved the HEI Hotels and Resorts Group, with twenty hotels being hit by malware that targeted their PoS systems. The group is not the first one to report PoS malware card data breaches, and the way that things are going they won’t be the last. HEI Hotels and Resorts Group includes popular hotels such as Sheraton, Le Meridien, and the Marriott. Of course, the financial damage of such a breach is extortionate, but the fall-out is often a lot worse than most business owners consider.
Firstly, you will have to ensure you take all of the steps to stop the problem from getting worse, which can mean being out of business for a while. You also need to alert your customers, and you need to get to the bottom of the security vulnerability so that you can rectify it. This can be a lot more difficult than anticipated, and a lot of security breaches go unnoticed for months on end. You will then face fraud losses, and you will need to payout compensation to those that have been affected. And, what about non-compliance fines? All businesses that take card payments need to comply with the PCI DSS security standards. As you have failed to do this, you can expect extortionate fines passed on from your bank. Moreover, your interest rates are likely to go up as a result – that is if the bank will continue to do business with you.
All of this is without even considering the damage that a data breach can do to your reputation. When businesses book a stay at a hotel, they expect a relaxing time where they can let their troubles drift away. They don’t expect to be the victim of credit fraud, or at least to worry that they could be. You have a responsibility to protect your customers’ card data, and when you fail, trust is broken. This is something that is notoriously difficult to rectify, especially in an industry where there are so many businesses you are competing against, and so many other hotels that customers could go for instead.
Don’t be the next hotel to suffer a data breach. Make sure your business is protected. If you don’t know where to start, don’t fret, as Retail Secure can assist. All you need to do is give us a call to get started. You can be sure that our solution is one of the best in the industry, and it is affordable too.