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One of the most significant security challenges faced by the retail industry is the protection of payment card data. Retail businesses must comply with strict payment card industry (PCI) data security standards to protect against payment card fraud. This includes implementing strict access controls, encryption, and tokenization of payment card data.
Another challenge faced by the retail industry is the protection of customer data. Retail businesses must comply with strict data protection regulations such as the General Data Protection Regulation (GDPR) to ensure the confidentiality, integrity, and availability of customer data. To comply with these regulations, retail businesses must implement strict access controls, encryption, and multi-factor authentication to protect against data breaches.