We live in an age of big data, with many organizations storing and processing unbelievable amounts of information.
Google alone boasts over 10 exabytes of data storage (1 exabyte = 1 billion gigabytes). Just to put that in perspective, 5 exabytes is roughly equivalent to every word ever spoken by anyone — since the beginning of time.
And all of this information is ripe for picking, with everything from patient records to email passwords potentially up for grabs.
Square, Inc. is a leading manufacturer of credit card processing technology for mobile devices. The company produces tiny pieces of hardware that fit directly into smartphones and tablets, allowing merchants to process credit card payments without relying on traditional, stationary terminals.
In recent years, there have been a number of data breaches in which criminals stole millions of customer records using malware and viruses. Target and Home Depot are two of the most high-profile data breaches, but there are many other instances of identity theft and credit card fraud at a smaller scale.
In nearly all cases, consumer outrage has been vocal and swift. And not surprisingly, merchants across the country continue exploring ways to make their customers' data more secure.
Credit card fraud is on the rise. And major data breaches are becoming more common.
Against this backdrop, merchants across the country are rushing to make their payment environments more secure. And two of the most popular solutions include adding chip & PIN EMV or Apple Pay options: