In the late 1990’s, the push for credit card transactions was to upgrade from “dial up” to Internet. It required an upgrade to systems, which many merchants felt was just onerous. Once adopted, however, it became clear that this technology was far superior to the old technology, and the public quickly expected merchants to offer the faster transaction speed.
Several years later, the issue of credit card data security became the focus of the industry. Tokenization and point-to-point-encryption became a necessary upgrade for any merchant accepting credit cards. Systems needed to be upgraded to accommodate the new security, which was a burden to merchants, but the public now expects that their credit card data will be protected and secured.
Now, the introduction of the EMV/chip card technology is forcing the hospitality industry to upgrade systems further. A large proportion of card holders now regularly possess, and utilize, credit cards availing themselves of chip card technology. Once again, merchants are asked to upgrade their systems to provide the highest level of security for their customer’s electronic transactions.
Although this upgrade can be significant for merchants, we are now at a point where merchants have an inherent responsibility to do all they can to protect the credit card data of their customers. Although sometimes costly to the merchant, upgrading systems has now become a responsibility – and a necessary cost of doing business.
So… Why Upgrade?
Because the industry, and your customers, expect that merchants will make the necessary technological investment to protect cardholder data. Providing this protection to customers is no longer a convenience – as the migration from “dial up” to Internet – but rather, it is an expectation that merchants will acknowledge their responsibility to the public, and ensure that their customer’s data is protected to the best of the merchant’s ability.