Retail Tech Insights – by Tim Yunusov
Usually, when we think of digital security breaches, it conjures thoughts of savvy and nefarious hackers stealing information online in some sophisticated way. But more often than not, some of the scariest vulnerability’s businesses face come from their hardware—and not just from computers and smartphones, but even from something as simple and seemingly safe as their credit card payment terminals.
If you take a look at how retail payments were made 10 or 15 years ago, there were three or four different instances all the way through the payment process, whereas now the payment ecosystem has become more and more complicated. On the payment side, you have things like mobile wallets, alternative payment systems, QR codes and so on. From the merchant side, you have payment providers that sit on top of the system, like Pay Pal and Square