The small business owner has to wear a lot of hats and take on a tremendous amount of responsibilities. They also have to be held accountable should something go bad with their company.
Unlike massive corporations with executive teams, board members and legal councils, a small business owner is essentially on their own. Sure, they might have a group of people working for them, but when a major problem occurs, they must take on the responsibility of fixing it and, if the issue is serious, they have to suffer the consequences.
That's why it's so important for owners of small companies to ensure their organization is PCI compliant. Protecting customer information becomes even more crucial when you are the sole party responsible for ensuring that security. Those in charge of eCommerce vendors know just how vulnerable they are to online attacks and how disastrous the ramifications could be if they are indeed breached.
An article in the online publication Independent Retailer talks about this fact and suggests that small business owners conducting online transactions lack the safety blanket of big corporate retailers or B2B sales organizations.
"At the end of the day, banks can be a safety net if someone were to get your customers' credit card information," writes Mike Auger, the author of the article. "Unfortunately, there isn't a safety net if personal information is stolen from an online business."
Tokenization is essential for small business owners because it helps alleviate the burden of holding customer data. By storing information off-site, it can be protected from targeted attacks. Individuals in need of better security measures should contact a payment solutions provider to obtain the tools they need to attain PCI compliance.