Smart, frequent inventory management is one of the best, most feasible devices to prevent inventory loss. Many small business owners dramatically decrease theft at their stores. They achieve this by watching their inventory and monitoring discrepancies. To accurately account for your inventory levels, it can help to use smart barcode scanners to do stock takes.
Another key measure is monitoring ‘user permission levels’ of staff for operating the POS system. A reliable POS will make it possible to set different permission levels. This way, only key staff can edit data on your system.
These measures have been shown to reduce theft. You know when something goes missing. To help you stay on top of your inventory, POS system stock control options are a viable solution. They help you increase your inventory visibility so you can stop theft, improve accuracy, and more.
This is a great way to allow users to pick up and test your products. If you have high-value products in your retail stores like cell phones and laptops, they will remain attached to your display furniture securely. Some retailers use a stand for security fixed on top of their displays. This enables them to showcase tablets, phones, watches, and cameras while keeping them fixed and secure.
Among the types of merchandising, security equipment available are magnetic holders and wired grip holders. Depending on the size, shape, and value of the products they are offering, retailers can choose which ones are best suited.
Some merchandising security equipment has in-built chargers. Your displayed goods are always charged to make clients happy. Amazon and electronic goods stores sell these devices. Cables and physical locks also make it more difficult for thieves to just get an item off your shelves.
POS systems improve product visibility
Technology improves the visibility of displayed products. Cameras throughout the store, which are integrated into the POS system, make potential thieves more conscious of their acts. They know they are being watched. These low-cost loss prevention devices work like a charm.
Retailers who fail to secure their credit card and POS terminals are vulnerable to breaches. Our next section includes important POS security protocols to note.
Modal and Serial Numbers
Note all your POS devices’ model and serial numbers. Verify that they match their assigned devices during your regular inspections. Inspect your POS equipment, credit card terminals, and PIN-entry devices on a daily basis for any signs of tampering. Such signs may include missing screws, broken seals, extraneous wiring, and additional labels. The last may show that the device has been altered.
Electronic Goods Surveillance
Retailers can trigger off an alarm if a customer leaves with an item with the tag still on by attaching security tags to their goods. Exit gates trigger the alarm by the electronic sensors. There are many types of equipment like this that you can use. Tags, labels, antennas, and spider tags are just a few examples. These use a combination of radiofrequency, sensors, electromagnetic technology, and metal detectors, to prevent theft. The one’s experts recommend causing a minimum number of false alarms!
Use security-compliant devices
To view a list of approved devices, visit the official website of PCI SSC. Also, consider getting more surveillance cameras in your stores. You’ll be able to monitor store activities the whole time.
EMV is short for Europay®, Mastercard®, and Visa® (hence the name) as a way to prevent fraud. This technology is behind chip-and-pin cards. These are a new type of debit and credit cards that is much more secure than magnetic stripe cards, also known as swipe-and-sign. EMV can protect your customers and yourself from credit card fraud. It looks like it is time to transition to this payment standard – unless you already have, of course.
EMV cards are embedded with a chip. This generates a unique code that is altered for every transaction. This is the case to render it less vulnerable to fraud. Even if a hacker manages to counterfeit a chip card, the original transaction code is no longer usable, and the card will be declined.
Make your store network safer
Keep crucial information away from prying eyes by making sure your screens, card terminals, and POS are positioned for maximum privacy. Use shelves, secure stands, and security cables to thwart unauthorized removal. Use locking stands to mount your PIN pads securely on the counter to protect your equipment.
To keep POS activity safe, run it on a separate network. It shouldn’t be the same one the guest Wi-Fi is on. You should have your network data encrypted, so traffic and activities aren’t visible to anyone else.
Remember that encryption standards are different. Always choose Wi-Fi Protected Access version 2 (WPA2) encryption when you have someone encrypt your network. This is the most secure and the latest standard in the industry.
WPA2 makes you impervious to attacks compared to encryptions like WPA and WEP because it adds Advanced Encryption Standard (AES). This serves to strengthen your encryption.
Make strong passwords. Keep your accounts, POS, and other devices safe with them. To protect your devices from worms, viruses, and malware, install an antivirus program to keep. To make sure you have the latest protection at all times, remember to update your antivirus on a daily basis.
Change any default passwords on your computer, POS, Wi-Fi, and other devices or accounts. This will help keep everything safe. Don’t use the same password or even the same passphrase for more than one account! You don’t want an intruder to access the rest of your accounts after they got their hands on one password.
We know keeping track of unique passphrases can be difficult. This is why it’s a good idea to get a password manager. These applications can create, manage, and protect your passwords for you. All you need to do is remember one main passphrase or password. You don’t need anything else to access the app. On that note, we do recommend using only passphrases to be even safer.