PCI Compliance and Security

PCI Compliance and Security

PCI DSS Compliance – Merchant Processing Company

The Payment Card Industry Data Security Standard (PCI DSS) is a multifaceted security standard that includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures.  This comprehensive standard is intended to help organizations that process credit card transactions proactively protect customer account data.  As a merchant, you should only process with a company that makes cardholder data security a top priority.

The PCI DSS is administered and managed by the PCI Security Standards Council, an independent body that was created by the Council’s five founding global payment brands — American Express, Discover Financial Services, JCB International, MasterCard Worldwide, and Visa Inc.  The individual card brands require that merchant banks and processors implement their own PCI DSS compliance programs to educate merchants on compliance and ensure they meet the requirements.

All merchants that accept, transmit or store cardholder information must comply with the requirements of the PCI DSS, regardless of the number of transactions processed or the size.  Compliance is also required regardless of how you receive credit card transactions – via mail, over the phone, online, or even terminal swiped.

Merchants who do not comply with the requirements may be subject to fines, audits, and card replacement costs, to name a few.  It’s important to note that while validation of the security standard is not yet required, compliance is mandatory.  Most processors have implemented or are in the process of implementing these programs.

There are costs associated with becoming PCI DSS compliant.  Merchant Processing Company is pleased to be able to offer our PCI program at a minimal costs to merchants.  In 2010, our merchants were only charged an $89 fee, far below industry average.  At Merchant Processing Company, we believe we provide the best value for our merchants while providing full support to help you achieve compliance.

To learn more about the PCI DSS security standard, visit their website by clicking here.