Contactless payment: curse or blessing?
Calum MacLeod · Computer Fraud & Security · 2012
When sensitive information is misused or compromised, organisations not only face monetary penalties but loss of customer trust and loyalty. As brand reputation is the retailers’ most valuable asset, it can be devastating. At the same time, the ways in which consumers pay is continuously evolving, so how do you keep up and remain secure? Calum MacLeod of Venafi explains that new technologies such as Near Field Communication (NFC), while offering many benefits, must comply with industry mandated security requirements if retailers are to avoid high-profile breaches and the repercussions they bring. When sensitive information is misused or compromised, organisations not only face monetary penalties but loss of customer trust and loyalty. As brand reputation is the retailers’ most valuable asset, it can be devastating – just ask TJ Maxx. But with the ways in which consumers pay continuously evolving, how do you keep up and remain secure?