3 Reasons Merchants Need to Take a Greater Stance to Protect Against a Data Breach

Here are three reasons retailers need to take a greater stance and protect their business against data breaches:

1. Financial impact of breaches is growing: Malicious attacks on customer data have grown in complexity and sophistication, making even large companies with advanced security measures vulnerable to cyber attacks. In fact, in 2012, the average financial loss from a data breach for a large U.S. retailer was $5.4 million, including the costs to investigate and respond to each issue. While implementing new security measures and payment technology can be costly to update and maintain, taking steps to be more secure can prevent a significant financial and reputational burden in the future.