WYB Partners with Cayan

WYB Partners with Cayan

We Have Partnered with a Security-Centric Payment Processor: CAYAN

Two years ago during Black-Friday shopping, hackers breached retail-giant Target’s systems making off with information, including credit card numbers, for 98 Million customers. As consumer purchasing starts to ramp up for the holidays, are you prepared? Read below for some eye opening stats and a few things to consider.

Many businesses, think that they aren’t at risk for security breaches because they are just one smaller merchant in a universe of millions. Think again. According to the National Cyber Security Alliance, 20% of small businesses are victims of cybercrime each year. And when it happens, there is a real impact to SMBs with losses averaging $155,000 (Association of Certified Fraud Examiners) and with 60% of them no longer in business six months later (National Cyber Security Alliance).
The pain goes on and on.

  1. Fines from the card associations
  2. Brand damage
  3. Exposure to potential legal liability

With that in mind, here are a few tips to make sure your business doesn’t become a statistic:

  1. Tokenize your card data and don’t store it. We liked that about CAYAN. The card-data is tokenized and kept in their “Vault.” This means that even if a hacker can get entry to your systems, there is not data for them to steal.
  2. Apply PCI-compliant practices: If you are engaged in e-Commerce, make sure that your payment-processing provider is PCI level 1 Certified. If they are, that means that they have done their due diligence in ensuring that data is kept secure.
  3. Use SSL-protocols to ensure that the information your customers give you over the web isn’t intercepted.
  4. Conduct annual vulnerabilities scans of your website, software-providers, and office procedures and protocols (including employee practices) to ensure there aren’t any holes that can be exploited.
  5. Keep your public and business networks separate.

Fraudsters work hard at figuring out a way to defraud you and your customers. They are often abroad and have nothing to lose and everything to gain. So, it’s not only “right” to be ever-vigilant, it’s basically become an obligation.

Lock up when you leave,
Greg Hewitt-Long – Company President