PCI SECURITY STANDARDS COUNCIL
Every new and existing business, small and large, who accepts credit cards must become Payment Card Industry Data Security Standard (PCI DSS) Compliant. VISA, MasterCard, American Express and Discover formed the PCI DSS Security Standards council to help merchants prevent card holder theft from occurring. In order to prevent theft, merchants must both provide a self-assessment questionnaire to their processor to document how they capture, process, store and retain their customer’s credit card information.
How can it impact your business?
- Your business could be assessed unrecoverable hefty fines by VISA and MasterCard.
- Your business could be sued for a substantial amount of money if your business is identified as a non-compliant merchant where a cardholder identity is compromised in Identity Theft.
- Your business could lose the right to accept any VISA and MasterCard transactions.
