News

67% of SBEs not worried about card security; should that worry ATM operators?

March 10, 2014

Newtek Business Services, a provider of financial products to small- and medium-sized businesses, has released the findings of its latest Small Business Authority Market Sentiment Survey. For ATM deployers concerned about card counterfeiting, it's worrying news.

The SB Authority Market Sentiment Survey is a monthly gauge of the concerns of small-to-medium merchants and other business owners. For the February survey, more than 1,400 respondents were asked two questions (see graphic).

The survey found that even after massive recent data breaches at major companies such as Target and Neiman Marcus, 67 percent of business owners are not concerned about credit card security at their business.

Additionally, 63 percent of business owners are unaware of EMV chip card technology.

Said Barry Sloane, chairman, president and CEO of The Small Business Authority:

With data and security breaches increasing in intensity and frequency, it is surprising, but revealing, that independent businesses are not having the concern they should over their own cyber security. 

It is the 'It's not a problem until it happens to you' attitude that is concerning to us at The Small Business Authority.

Business owners need to scan their websites continuously for vulnerabilities, use tokenized gateways and have cyber liability insurance for the protection of the enterprise and business franchise.