2017 will go down as a record-breaking year for data breaches. The Identity Theft Resource Center (ITRC) recorded 1,579 breaches that compromised over 178 million consumer records – a drastic increase of 44.7% over the record high figures reported for 2016. Malware was a leading attack vector in the 2017 data breaches, designed to infiltrate point of sale (POS) systems and steal clear-text personal and credit card data.
The foodservice and hospitality industries have been hit particularly hard by data breaches, with hotel brands, restaurants and establishments targeted by hackers in 2017 – including a major micro market malware breach that exposed thousands of customer credit card numbers. While the average cost of a data breach in 2017 was $4 million, for larger companies and chains, those costs can skyrocket to over $50 million – not to mention the irreparable damage to the brand.
That’s why more and more companies in foodservice and hospitality are adopting payment security technologies like PCI-validated Point-to-Point Encryption (P2PE) – including industry leader AVI Foodsystems, America’s largest, family-owned and operated food and hospitality provider. In 2017, Bluefin, Nodus Technologies, and AVI partnered to provide Bluefin’s PCI-validated P2PE solution for AVI’s back-office payment processing. PCIvalidated P2PE is designed to secure credit card data through encryption in a PCI-approved P2PE payment terminal. Encrypting data within the device prevents clear-text cardholder data from reaching the POS system where it could be exposed in the event of a data breach.