MONEXgroup Offers Countermeasures to Payment Processing Threats and Loss of Business

TORONTO - Feb. 28, 2014 - PRLog -- Almost 60 percent of top retailers in Canada, the United States, Britain and Australia are looking to increase their spending on security following a series of data breaches throughout December last year. A number of big companies, including communication giant, Bell Canada and retailer, Target have fallen victim to multiple high-profile attacks resulting in millions of lost or stolen credit card as well as debit card information.

In Canada, 54% of those surveyed mentioned their security budget would increase as a result of these recent high-profile attacks.  Target, for example, lost 40 million credit and debit card numbers. Experts say the frequency of attacks is more likely to increase, given the vulnerability of payment processing technologies - businesses should prepare!

It should come as no surprise (and according to a recent Forrester Research Survey) that 62% of individuals would not repeat a purchase with a company that had shared their personal information.

“Speed and efficiency behind purchasing is a given with the advancement of technology” commented Parry Rosenberg, Vice President of Sales and Marketing at MONEXgroup, “but there’s also the comfort of knowing your information is safe – at MONEXgroup that security comes standard.”

Demand for increased security behind payment processing products is a likely result of the potential rise of information theft. Products like MONEXgroup’s VeriFone Vx 810 Duet offer enhanced protection. These terminals are equipped with EMV Chip Technology as well as have PCI Security Standards Council approval and a tamper-resistant casing to prevent unauthorized intrusion. Functionality offered by the VeriFone Vx 810 Duet reflects the need to address growing security concerns.

MONEXgroup is the number one payment processing provider in Canada offering the lowest rates in the industry. Our services include: debit card and credit card point-of-sale (pos) terminals, mobile, integrated and e-commerce online payment products. MONEXgroup serves over 20,000 merchant accounts across Canada in all market segments including: restaurants, business-to-business, professional services, leisure and hospitality.

Holly Murray

MONEXgroup

Marketing Communications

HMurray@MonexGroup.com

T: 647 204 0197

www.monexgroup.com