Consumers are wary of the increased frequency of cyber-attacks against retailers, and many are ready to walk away from their favorite retailers if a breach occurs.
Inventory loss through shoplifting or internal theft, unsuccessful in-store promotions, even long lines at the register – all of these are pain points for retailers and can seriously impact the bottom line.
According to a CardHub survey of 55 major retailers and 1,000 individuals, 42% of retailers have not updated the terminals in any of their stores and 56% of people don’t care if a retailer’s payment terminal is chip-enabled.