Majority Of Business Owners Not Concerned About Credit Card Security [Study]

67% of business owners are not concerned about credit card security

Majority Of Business Owners Not Concerned About Credit Card SecurityNewtek Business Services, NASDAQ: NEWT, The Small Business Authority®, with a portfolio of over 100,000 business accounts, announced today the findings of its SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners.

Based on a poll of over 1,400 respondents, one of the key findings from the February survey is that even after the recent hackings at major companies such as Target and Neiman Marcus, 67% of business owners are not concerned about credit card security at their business.

RELATED: US Lagging Behind in Global Credit Card Security

Additionally, 63% of business owners are unaware of EMV Chip Card Technology. EMV is a global standard for credit and debit payment cards based on chip card technology. Payment chip cards contain an embedded microprocessor, a type of small computer that provides strong security features and other capabilities not possible with traditional magnetic stripe cards.

Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, “With data and security breaches increasing in intensity and frequency, it is surprising, but revealing, that independent businesses are not having the concern they should over their own cyber security.”

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