Friday , July 10 2020
Home / IT News / Cybersecurity fears drive SMBs to third-party payment services

High-profile breaches highlight the need for secure credit card processing.

Cybersecurity fears drive SMBs to third-party payment services

Between 2010 and 2013, there was a 25 percent drop in small business processing online orders as traditional credit card merchants. Instead, they turned to third-party payment services, primarily due to concerns over cybersecurity and costs.

Molly Day, vicepresident for Public Affairs at the National Small Business Association, says, “There is a growing concern about cybersecurity in small business — generally considered those companies with less than 500 employees — because accepting and processing credit card payments directly can open you up to greater cybersecurity risks.”

In a 2013 UK study released by PwC and InfoSecurity Europe, feedback from 1,402 businesses with less than 250 employees showed that 87 percent of small businesses had a security breach in the previous year, up 76 percent from the previous year; and, frighteningly, 63 percent of small businesses — nearly two out of three — were attacked by an unauthorized outsider in the last year, up more than 50 percent from the previous year.

Learn More

Already an Insider? Sign in

This story, “Cybersecurity fears drive SMBs to third-party payment services” was originally published by

Network World.

Source

About IT News Ug

Check Also

Top 5 Udemy Courses to Take for Summer 2020

By DealPost Team PCWorld | Udemy is the best place online where students connect with …

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

//graizoah.com/afu.php?zoneid=2572107