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Mandatory PCI compliance looms

Posted by Michael Bloch in ecommerce (Thursday September 3, 2009 )

Heads up – it’s been on the horizon for a long time and it seems mandatory PCI compliance’s time has finally come… and it will affect many small merchants

According to an article on Ecommerce Guide; beginning October 1, 2009, many small merchants will begin receiving notices from Visa that they can no longer accept credit cards unless they have taken steps towards achieving PCI compliance.

As with Amex a few years back, where Visa goes, the others won’t be too far behind. Whereas many merchants do quite okay without support for Amex, not being able to accept Visa is a totally different kettle of fish.

While the focus up until now has been on larger merchants, PCI (Payment Card Industry) Data Security Standards (DSS) will now be enforced among Level 4 merchants – those with fewer than 20,000 Visa transactions, and fewer than 1,000,000 total transactions per year.

Merchants who do not implement a PCI compliance program but somehow still manage to process transactions may face massive fines from the card company in a situation where security is breached; enough to send most small merchants to the wall.

PCI compliance is a set of security standards designed to protect sensitive information during any credit card transaction.

PCI compliance usually consists of a quarterly scan by an authorized scanning vendor and a yearly self assessment questionnaire.

October is just around the corner, so if you aren’t PCI compliant already; don’t put it off for much longer as it can take a little while to get through the process.

Read more – what you need to know about PCI compliance

Related:

Fraud screening strategies

Preventing and challenging chargebacks



 

 
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