‘Passwords for Payments’ to help small businesses

June 18, 2014

Small businesses can face insurmountable damage following payment card breaches, when customer payment information is leaked.

To counteract this, the PCI Security Standards Council is seeking 50 companies to become Passwords for Payments (P4P) ambassadors. Under the new initiative, small businesses will be educated on how to use strong passwords on point-of-sale devices and computers to reduce the risk of data breaches.

Businesses are increasingly at risk of data breaches due to failing to change weak passwords. This will need to change to ensure vulnerability management.

"Hacking easily guessed or weak passwords on payment systems is one of the leading methods criminals use to steal valuable credit and debit card information from small businesses today," said Bob Russo of the PCI Security Standards Council.

Several companies have recently been the target of data breaches, including major US home and construction retailer Home Depot. When breached earlier in the year, Home Depot had thousands of customer payment cards leaked.

Security needs to become the primary concern for businesses dealing with payment information, especially as security risks continue to climb. Failing to put proper security in place could lead to a substantial data breach of customer information.

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