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Table of Contents

Lead Story

New payment products: Go big or fail fast

Dale S. Laszig


Industry Update

NAC case against Visa, Mastercard going forward

Contactless, cardless cash gains U.K. adoption

It's always Cyber Monday for security pros

NFC tag certification program targets IoT


Sales compensation among U.S. merchant acquirers

Mobile payment awareness inches forward


The travails of chip and debit cards

Patti Murphy
ProScribes Inc.

What is Money20/20 Part Two

Brandes Elitch
CrossCheck Inc.

What a 'quarter century' industry veteran has learned about the high-risk merchant niche

Steve Duniec
Payment Advisors LLC


Street SmartsSM:
More rebranding options for MLSs

John Tucker
1st Capital Loans LLC

Is your merchant agreement out of date?

Eugene Rome
Rome & Associates

Manners matter in email

Jeff Fortney
Clearent LLC

Company Profile

CSR Professional Services Inc

New Products

Residual-based loans, financing solutions for ISOs

Residual-based loans
Super G Funding LLC

Secure, in-person proximity payments

Mobeewave Inc.


It's ABP now, not ABC


Letter from the editors

Readers Speak

Resource Guide


A Bigger Thing

The Green Sheet Online Edition

December 12, 2016  •  Issue 16:12:01

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It's always Cyber Monday for security pros

As retailers brace for the holiday shopping crunch, the 2016 Pre-Holiday Retail Cyber Risk Report, dated Nov. 28, 2016 and published by Bay Dynamics, found that most security specialists take a business-as-usual approach to peak retail season. Findings are based on an independent survey conducted by Osterman Research Inc. of 134 security professionals at U.S. retailers with 2,000 or more employees.

Merchants tend to hire seasonal workers during high-peak traffic times, which can pose risks to their businesses, survey analysts noted. The survey questioned how information technology (IT) professionals share information among permanent, temporary and contracted workers, as well as response mechanisms to perceived cyber intrusions and threats.

Ryan Stolte, co-founder and Chief Technology Officer at Bay Dynamics said key differences between the 2015 and 2016 reports highlight changing attitudes among leading U.S. retailers. The study shows that many organizations have formalized their approaches to risk management and cybersecurity.

"They view cyber security as a year-round commitment and therefore are limiting access to sensitive information for those workers who do not have their own accounts," Stolte said. "They have more visibility into their employees' actions, especially permanent employees who access highly valued data assets. Cyber security is no longer being put on the back burner, and that's a positive shift."

Security a top concern

In a recent survey of small business owners by cybersecurity firm ControlScan Inc. and the Electronic Transactions Association, 89 percent of respondents said security was a top concern. When asked for three top factors that would confirm they had invested in the right payment technology, the leading response was "improved transaction security," followed by "improved customer experience" and "ease of implementation."

"Historically, small and mid-sized businesses have been singularly focused on cost factors when considering new point-of-sale technologies; things like the customer experience and enhanced security functionality were simply not part of the conversation," said Chris Bucolo, Director of Market Strategy at ControlScan. "But all that's begun to change as consumers become more vocal about what they consider a positive shopping experience."

The most effective way to reduce cyber risks is to focus on the most valued assets and the people who interact with them, Bay Dynamics analysts stated. "Organizations should identify where their most valued assets exist, who accesses them, how they access them and who governs those assets," they wrote. "No matter the types of employee, whether they are permanent, temporary or contractors, only those who must access valued assets to do their jobs should be given access."

Encouraging trends

Michael Osterman, Principal Analyst with Osterman Research found improved threat detection and response times among IT and security professionals, compared with previously published findings in the 2015 Pre-Holiday Retail Cyber Risk Report. "Most are patching their systems quickly, monitoring employee behavior more closely and limiting access to sensitive information, but there is definitely still room for improvement," he said.

Following are additional takeaways from the Bay Dynamics report:

Downloadable copies of the 2016 Pre-Holiday Retail Cyber Risk Report and the 2015 Pre-Holiday Retail Risk Report are available at: and, respectively.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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North American Bancard | USAePay | Impact Paysystems | Electronic Merchant Systems | Board Studios