30 Nov Cloud Storage Regulations for Credit Card Info Not Followed by Most Small Businesses
Many businesses are leaving sensitive data at risk by neglecting PCI DSS industry regulations and other additional security measures.
According to a recent survey, 62% of small businesses storing customer credit card and banking information on cloud storage say they do not follow industry regulations to secure their cloud storage.
The new data obtained by Clutch, came from a survey of 300 U.S. small businesses with 1-500 employees to better understand cloud storage security and to provide actionable advice for small businesses seeking to protect their data in the cloud.
What is PCI DSS?
The world’s major credit card brands, including Visa, MasterCard, and Discover, formed the Payment Card Industry Security Standards Council in the early 2000s and created the Data Security Standard, known in short as PCI DSS, to keep credit card and banking information secure.
Businesses that store data from the major credit card brands but are not compliant with PCI DSS can face fines of up to $100,000/month.
Be sure to read up on PCI DSS’s standards for small businesses.
Not all bad news
The good news is that it’s not all bad news. Small businesses are making progress in their security efforts compared to one year ago.
Over half of small businesses use encryption (60%), employee training (58%), and two-factor authentication (53%) to help secure their cloud storage providers. However, almost all small businesses should be using these security measures to protect their cloud storage.
Compared to 2016, less businesses storing customer credit card/banking information are using free cloud storage, a positive trend. In 2016, 14% of small businesses using free cloud storage stored customer credit card and banking information. However, in 2017, only 7% of small businesses using free cloud storage store credit card and banking information
How can BASYS Processing solve PCI for you?
At BASYS Processing we do everything we can to assist you in keeping you and your customers’ information safe and secure. We separate ourselves from our competitors by having an in-house PCI Compliance Team, based at our home office in Lenexa, KS. Our compliance specialists are thoroughly trained on the latest version of PCI DSS. We pro-actively contact all of our merchants and specifically speak with them regarding PCI Compliance. While most processors may be happy to collect a monthly non-compliance fee for PCI, we strive for EVERY merchant to be PCI Compliant, which reduces their credit card processing costs and, more importantly, reduces their risk. Our in-house PCI Compliance Team is here to answer questions, and to protect the interests and information of our partners, our merchants, and their customers.
BASYS Processing as a business partner
If your current credit card processing provider isn’t meeting your goals in terms of low fees and exceptional service, please call BASYS Processing at (800) 386-0711. Let’s talk about creating a true business partnership that will help you meet and exceed your goals for accepting credit cards and other payments. We make accepting debit cards and credit cards convenient, safe & affordable.
BASYS Processing features:
– Live operator when you call support – no automated voice systems
– Dedicated Relationship Manager for questions and concerns
– Quick response time for your questions and concerns; you are a priority
– Family owned since our founding in 2002
– A+ BBB rating
– 90% + Customer Retention Rate
– Proactive contact with every merchant to walk through the annual PCI process
– In-house PCI Team to assist with questions and concerns
– Solutions including terminals, virtual terminals, e-commerce, mobile, and point of sale
– EMV compliant products
– Reporting for customer, sales, and inventory management
– Gift and loyalty card programs
– Easy-to-read statements
– Transparent pricing
– Tremendous savings
About BASYS Processing
BASYS Processing provides credit card and debit card processing services, and solutions that include terminals, virtual terminals, e-commerce, mobile, and point-of-sale, customized to fit any need. Banks, associations, and software partners depend on us to strengthen their reputations and relationships with their customers by providing remarkable service paired with ultimate flexibility and pricing. Merchants depend on us to make accepting credit cards and debit cards convenient, safe & affordable. BASYS was founded in 2002 on one philosophy: to take care of our merchants, partners, and employees so they never want to leave. We are dedicated to working one-on-one with our customers to design the perfect solution. BASYS is Personalized Payment Processing.
Learn more at basyspro.com, and connect with us online at: