Final answer:
To safeguard cardholder data during mobile payment processing, entities must use strong passwords, employ anti-virus software, protect physical forms of information, monitor credit histories, update contact information with their banks, and be conscientious about sharing personal data.
Step-by-step explanation:
Entities involved in payment card processing via mobile devices can reduce the risks to the security of cardholder data by implementing several key practices. To protect your credit and debit cards, it is important for entities to safeguard the environment where these cards are processed.
This involves the use of strong passwords and PINs that cannot be easily guessed which are essential for securing accounts against unauthorized access. Additionally, the use of anti-virus software on computers that interact with payment systems helps prevent malicious software from compromising cardholder data.
Organizations should also be vigilant in ensuring that they protect your mailbox and wallet by reducing the chance of physical theft of cardholder information. Monitoring your credit history regularly for any red flags can alert individuals and organizations to potential breaches of data security.
Furthermore, entities should notify their bank promptly when they change addresses or phone numbers to prevent misdirection of sensitive information. Lastly, limiting the amount of personal data shared and being cautious of privacy policies when making purchases can further enhance data security.