With augmenting technological innovations, the threat to one’s data is also escalating. Just like a coin has two faces, the technology has two sides whereby it can be used for both the good and the bad. While the entire world uses it to simplify life, some selfish people use it for their benefit. The fraudsters, hackers, criminals and thieves misuse technology to steal the data of other people and make money out of it. This has posed serious issues to the security of data that we transfer, share or receive electronically.
The retail sector is most vulnerable to cybercrimes. The entire retail sector today is reliant on POS system which is a hot target of those with malicious intentions. Every day, thousands of transactions are performed on POS systems and sensitive data like debit/credit card details or other account related details are exchanged over the internet. Thus, hackers eye on stealing this information from the POS system thereby posing a threat to its security.
So, is there any solution to make the POS system safer?
Apparently, there is. POS can be integrated with one of the safest, biometric technology, to enhance its safety. So, let’s have an account on this integration.
What is POS?
POS refers to Point Of Sale. A POS system comprises of a computer, printer, cash drawer, barcode scanner, POS software, card readers and a display screen. POS software is used for automating the whole transaction where the cashiers input the products and the bill is then generated. This software also communicates with inventory software to keep everything balanced. With its speed and accuracy, POS software has reduced both time and efforts at both the retailers and customers end. It can handle anything from sales, exchange and returns, to gift cards, discounts and promotional vouchers.
Is your POS system safe?
We know how POS systems can be of great help in the retail industry. They are effective in saving loads of time and making transactions simpler. However, they are on the radar of the hackers. The best secure POS software uses the details of the customers debit/credit card by making a connection between the card user and the Internet. This connection with the credit/debit card details becomes the reason for hackers to target the POS. Malevolent people can access your confidential data by attaching any kind of recording device on it.
During the processing of transaction using POS, the card details remain unencrypted for some time and criminals make good use of this time period to hack the POS systems or just steal customer’s data. Several malware programs have also been created to target the POS software. Thus, there is a need to enhance the safety of the POS system. The Biometric Technology can be used for the same.
What is biometric technology?
With changing trends in technology, the system of password and pins has also become obsolete. Passwords are no longer “strong” as anybody can hack them and get their hands on your private data.
Hence, the demand for a stronger and safer security method arose. This led to the introduction of biometric technology. Ever since its inception, incidents like employee thefts, hacking, identity thefts and cybercrimes have reportedly decreased. The global biometric technology market is predicted to increase from $23.4 billion in 2018 to $71.6 billion in 2024, thanks to developing technologies like affective computing and speech recognition, according to the report from BCC research. Thus, Biometric is a trending and reliable technology and is here to stay.
Biometric characteristics comprise of fingerprints, hand or palm geometry, iris, veins and even face recognition. They are so distinguished that they cannot be copied or stolen like the passwords. This is the major reason why POS systems should be protected using biometric features instead of passwords.
How can you make your POS safer using biometric technology?
Better authentication methods
In order to escape the thefts through the POS systems, making use of the advanced biometric technology seems indispensable. Biometric security can help in enhancing the effectiveness of the authentication methods. It adds another layer of security to the whole infrastructure.
The fingerprint scanner is cost-effective
While other devices of biometric security might seem too pricey, a fingerprint scanner always impresses the users with its low cost and easy installation process. As POS systems use credit and debit cards for transactions, they prove to be easy victims for stealing of data. Attaching a fingerprint authentication process to your POS system enhances the level of security of the POS.
Fake identity fraud is eradicated
The old idea of using a login ID and creating “strong” passwords seems more vulnerable to the hackers as they can easily extract the confidential data. In fingerprint scanning, the users can’t make use of somebody else’s identity to log in to the POS system. Any person who tries to intervene with the device will be caught red-handed. Biometrics helps to differentiate between real and fake. Thus, it will even eliminate the instances of employee thefts.
Prevents the introduction of malware into the POS software
Fingerprint scanning system discards every malicious attempt to introduce malware in the system. The entire process of accessing the POS system using passwords can be replaced with fingerprint authentication. It will provide much higher standards of security to the system.
Identifying and catching the criminals
By using biometric technology, companies can now see the person who tries to access the system.
Passwords might be stolen, but fingerprint scanners can’t be fooled as it will ask for the fingerprint of a specific person and nobody else would be allowed to access the systems.
The biometric technology is an all-encompassing evolution in the history of identity management. With more of its advantages being revealed to the users, it is becoming even more desirable in the industry. The implementation of fingerprint authentication in Point Of Sale software will surely make it safer.
Aniruddh is Blogger and Digital Marketing Specialist at SoftwareSuggest. Loves to dig deep into various POS systems, Inventory management software and GST software. Ready to grab a cup of coffee anytime, if you want to talk about tech, cars, businesses or cricket.