Technology is always advancing rapidly, but over the past few years, things have progressed so quickly that the world looks almost entirely unrecognizable compared to a decade ago. One of the most prevalent ways technology alters society is through digital payment methods, which are becoming the norm.
If you own a sales business, then you’re familiar with POS systems. Point-of-sale software helps businesses accept cash and credit card payments, but it can also assist with tap-to-pay transactions stemming from platforms like PayPal, Apple Pay, and more. These systems are computer-based, and they help hold money, give proper change, and record every transaction’s details.
Unfortunately, this type of system is vulnerable to cyberattacks. If a criminal gets into a POS system, then they’ll have access to customer information that you have on file, such as the person’s name, address, and transaction details. Depending on the type of system you have, you could even have credit card details or banking information attached to the customer’s account.
Right now, rising global tensions alongside the rapidly evolving technological landscape in the Middle East have resulted in an increased risk of cyberattacks on POS systems in the region. Retailers in the Middle East have no choice but to ensure their POS systems are secured to maintain not only customer trust but also their reputation and integrity.
According to recent data, at least 44% of retailers throughout the UAE experienced cyberattacks and data breaches in 2023. Throughout the year, these types of cyberattacks increased by a rate of 39% compared to 2022.
The most common type of attack on POS systems involves malware. Malware is typically deployed to steal important data like customer card details. Unfortunately, malware can go undetected by businesses for extended periods of time. While the malware is in place, it will continue to steal data and cause financial damage to the company.
Some hackers also deploy physical hardware to steal customer data. Skimming devices can be added to any card reader. Once a customer scans their card to pay, their data goes directly to the hacker. Unfortunately, these skimming devices can also go unnoticed for long periods of time.
Are Your POS Systems Secure?
Do you conduct business in the Middle East? Does your business use a POS system? Regardless of your industry, it’s very likely that you’re utilizing technology to help meet your goals and conduct transactions. When that’s the case, you need to be sure that you have the proper security in place.
Here at CyberSec Bahrain, our team of cybersecurity experts are prepared to help you conduct a full-scale vulnerability assessment to determine your company’s specific needs. From there, we’ll go over the potential cyber solutions that could benefit your company. Equipped with this knowledge, you can make an informed decision on how to proceed with your company’s cybersecurity plan.
Are you ready to get started? Schedule a consultation with our team now to learn more about our services.