Sustainable Solutions for Securing Payments in a Transforming World
As if you need reminding, but earlier this year people scrambled to adapt their lives. The COVID-19 pandemic affected every aspect, no matter where in the world you were.
At the advice of national governments, children were stopped from attending schools. Employees were told to work from home for the foreseeable future.
We are now more than one year into the ‘New Normal’ and working patterns have adapted to suit. However, so has the ever-present threat of cyber-attacks. Recent Verizon research found that our changing work patterns are vulnerable to potential hackers.
Quick fixes: Good … until they aren’t
Naturally in times of crisis, it’s quick fixes that are relied upon. Many organizations have adopted quick solutions such as updating guidance to homeworkers regarding security, securing personal devices, and generally tightening up practices as best as possible. But quick fixes are just that, and not a sustainable solution.
This begs the question, Now what?
With cases on the rise again on a global, national, and regional scale, it appears remote working is sticking around.
So, are your quick fixes sustainable? Are they able to flex to a rapidly changing situation?
What You can do
While organizations can begin by setting up secure practices and training for remote workers, it doesn’t stop there. Ensure your business maintains compliance with privacy regulations in your region, wherever your employees are based in the future. You can start by adjusting any privacy practices as needed. The following are steps for businesses to consider.
A few steps for businesses to consider:
- The way your company collects and uses data should still be the same. However, you may need to enact new security measures to ensure employees handle data securely at home.
- Any compliance officers in charge of meeting disclosure requirements will need to be able to securely access any consumer data from home. This is a process that will likely require additional security measures and tools.
- To ease customer concerns and provide some much-needed certainty, let your customers know of any new security measures you put in place. Making customers aware of changes will make them more confident doing business with you during this time. It will also build trust and loyalty.
- For any business handling consumers’ sensitive payment details, adopt a PCI compliance solution that works across multiple customer engagement channels. Complying with the PCI DSS, which is the highest standard of security for payments, helps to achieve compliance with additional data privacy regulations. It will also protect your company and customers from data breaches – whether you’re taking payment details from the office or at home.
Prioritize Security & Compliance
Being victim of a data breach will not make these difficult times any easier. Employees and consumers alike are looking to organizations to prioritize security and compliance while ensuring that the tools are in place to securely work remote.
We don’t have a blueprint to know what the workplace will look like in a month, or in 6 months. However, taking these steps today towards improving your organization’s security practices will ensure that your company and employees are prepared for all that the future holds.
[Related: What Now? Future-Proofing Your Payments (webinar recording)]
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