I love having a personalized retail experience. It’s great to enter a store (online or otherwise) and receive service that rewards me with curated content, promotions, and exceptional customer care. However, if that personalization comes at the cost of my personal data, I become very disinterested very fast.
Many consumers agree with me — 45 percent actually say they don’t trust retailers to keep their information safe. That’s why Intel encourages retailers to consider more secure payment solutions for their customers, not just because of the potential business benefits, but because better security is a public service.
The Traditional Security Model
How does traditional security look at the point of sale? Usually, credit card data is secured on-site on a POS device or credit card reader until it’s sent to a bank to be held securely. The problem with this method is that often only credit card information is protected. Customer data points like date of birth, addresses, driver’s license number and other bits of sensitive information aren’t protected as strongly.
This means data breaches can happen. A motivated hacker can access plenty of personal information with limited resources; the possibilities for a breach are no longer limited to credit card numbers and bank account numbers.
Intel’s belief is that data should be secured at the moment it’s received. With Intel Data Protection Technology for Transactions, all customer data is encrypted within a software applet that runs on the POS — whether fixed or mobile. The software then sets up a secure tunnel with capable peripherals. These peripherals can encrypt data on ingestion and send payment data on a direct path to the bank. Because that encryption is happening in the moment of capture, the chances for tampering or data theft are much lower. Then as that data circulates through the network to a bank or retailer data center it is protected in transit and can be decrypted based on policies.
Intel’s Push for the Whole Customer
Nobody wants to get their identity stolen. The process of reclaiming your life once your data has been breached is costly and draining. When retailers choose to protect the whole customer with Intel technology, data is much better protected. In the case of a breach, attackers are left with unreadable information thanks to advanced encryption.
Eighty-six percent of customers say personalization has an impact on their purchasing decisions. Data gathering is a big part of that, and it creates an awesome customer experience. A unified commerce experience can be powerful and beneficial to consumers, but security needs to be a top priority, and designed into the architecture for the future.
If you’re interested in learning about Intel security solutions and what they can do to transform your business, contact your Intel sales representative or visit our retail page to find out more.