We have an in-house PCI team that will walk you through your annual SAQ to ensure you are compliant. If you need a quarterly network scan on your system, our team will help administer that as well. We keep our customers protected with our breach protection, card tokenization, EMV processing, retrieval assistance, and encryption.
PCI DSS stands for Payment Card Industry Data Security Standard. It is a set of requirements based around how a merchant or entity is processing credit cards. PCI was developed by the PCI Security Standards Council in 2006. The council is made up of the five major card brands: Visa, MasterCard, American Express, Discover, and JCB.
The PCI requirements assist in creating a secure credit card environment and educating merchants on safe credit card handling practices. Being PCI compliant can help prevent data breaches and uncover problems in credit card security.
Any organization which accepts credit cards must comply with PCI DSS. It does not matter how the credit cards are processed or the amount of the transactions, the requirements still apply.
Typically processors take a reactive approach to compliance. The merchant is left to complete the requirements on their own and no assistance is given. The requirement is typically buried where it may be missed and non-compliance fees are viewed as a revenue generator. Often there is no direct contact from a processor to a merchant regarding PCI Compliance.
BASYS Processing takes a proactive approach to PCI Compliance. We have a fully-staffed compliance team that contacts our merchants regarding PCI. We reach out by phone and e-mail to remind merchants of their requirements and answer questions.
We also walk through the annual PCI Compliance questionnaire with our merchants over the phone. We explain the different requirements and make the process easy for our merchants.
The largest risk of non-compliance is the increased risk of susceptibility to a data breach.
• The average cost to recuperate from a data breach is $215 per compromised card number
• 70% of small-medium sized businesses never recover from a data breach
There can be large fines in the event of a breach. While PCI Compliance cannot remove this threat entirely, it can educate a merchant on industry best practices and allow the merchant to take active steps to prevent a breach. There can also be costly non-compliance fees if a merchant chooses not to comply.
A quick one page article from the BASYS blog about PCI Compliance
A visual guide to the basics of PCI Compliance
Visit the Official PCI Security Standards website for full details
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