Briefing on Payments and Privacy Developments

Recently, Perkins Coie and Generator Group co-sponsored an attorney led discussion highlighting the legal issues regarding Payments and Privacy Developments for the Retail industry.

Payments:
The issues and challenges are increasing on pace with the advancement of new technology, products and payment methods available. For example, retailers are now offering gift cards that reward points for loyalty or that are sent out in the form of a rebate. The complexity comes into play when retailers have to take into consideration individual State laws regarding expiration dates, breakage and fees for gift cards, unclaimed property, rebate cards and loyalty cards. 

Privacy:
Mobile technology, e-commerce, data storage, and related partnerships also bring along obligations and concerns regarding customer privacy and information security. In addition to a Privacy policy, it is recommended to have a security breach response plan.  John recommended that retailers consider all of the places that customer information resides including: data processors, storage companies, servers, employee's computers and laptops.  The number one source for a breach of information is lost or stolen laptops, but some other stories of insufficient firewalls and other preventable breaches were discussed. The monetary cost to a company responsible for a breach is significant, especially when you consider the cost of a tarnished brand reputation.

Contact Generator Group's technology services team at (888) 621-9934 to tap into our expertise for recruiting your key information security executives. Contact Perkins Coie at (206) 359-8377 for more information on how they can help to protect your business against common payments and privacy issues.