Did you know that 46% of data breaches target small businesses with less than 1,000 employees? Verizon’s 2021 Data Breach Investigations Report also indicates that data breaches have been steadily inclining over the last few years. Additionally, 96% of data breaches target payment card data.
Despite these statistics, there is often a sense of perceived safety among business owners when in actuality, they are walking a tightrope until a breach occurs.
How WPS Protects Small Business Owners
Our team at Westmoreland Payment Services knows these risks inside and out, and we are committed to protecting small business owners and their credit card transactions every step of the way.
When a business chooses to partner with WPS, they become secured under our small business insurance umbrella policy which protects businesses from the unexpected expenses and fines that result from a data breach. Additionally, these umbrella protections minimize other risk exposures that come from financial services and payments.
Westmoreland Payment Services believes that merchant services are more than just equipment and software sales. Most companies will simply sell you an online POS system or an online shopping cart portal. WPS goes further by partnering with our customers every step of the way to protect your company’s financial data.
What are those extra steps?
- WPS spends time with clients on the front end by conducting an initial background security analysis.
- Throughout our partnership, we conduct ongoing risk mitigation to ensure you’re protected.
WPS takes early-stage steps to ensure the credit card reader itself is right for your business needs.
Why WPS Protections are Important In Today’s Economic Climate
It has never been a more important time to ensure that your business transactions are protected. In our challenging economic climate with inflation in flux and customers buckling down on spending, small businesses simply can’t afford the chance of a breach.
The unexpected costs that arise from a security breach could cripple a small business. Additionally, management may not have the technical know-how to handle one—or the financial resources to bounce back in the aftermath.
We believe in prevention, protecting our customers, and freeing up our clients to focus on the important things: running their business and staying profitable. We work to increase productivity while lowering costs for our customers.
Don’t let the perception of safety catch your small business off guard. Reach out to our dedicated team at Westmoreland Payment Services for all of your merchant services needs.