PCI Compliance

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From 2010 PCI DSS became compulsory for processing card payments

PCI Compliance is the Payment Card Industry Data Security Standard mandated by the card schemes for the protection of cardholders and transaction details. If you do not comply with the standard you could face substantial fines imposed by card schemes. You could even find yourself being permanently barred from using card acceptance programmes.

According to payment brand rules, all merchants accepting credit card payments are required to comply with the PCI Data Security Standard in its entirety. This includes online and offline.

What it is PCI compliance and why does it matter?

If you own an online shop, bank online or use credit and debit cards, there is a very good chance that you have heard the term "PCI compliant." However you probably don't know what it means.

The term "PCI compliant" is heard more and more these days as data breaches at merchants like TKMaxx land hundreds of thousands of card details in the hands of criminals. These criminals are using the data to make purchases and withdraw money from accounts of unsuspecting victims.

It's a huge and growing problem. More than 80% of data stolen in breaches is payment card data, according to the 2009 Verizon Business Data Breach Report.

Who are PCI Security Standards Council

The PCI Security Standards Council is an open global forum, launched in 2006, that is responsible for the development, management, education, and awareness of the PCI Security Standards, including: the Data Security Standard (DSS), Payment Application Data Security Standard (PA-DSS), and Pin-Entry Device (PED) Requirements.

What if I don't want to become PCI compliant?

If you decide not to become compliant then you can still open an account with us. However...
If you are not compliant to the Payment Card Industry Data Security Standards (PCI DSS) you will be responsible for any losses through fraud, and may also face considerable fines. Your customers will suffer if their card details are compromised. Your business reputation will suffer as a result.

How much does it cost to become compliant?

With Payment Solution 1 Account it's FREE. However if you would like help with becoming compliant, prices vary from company to company. However the average price is around £150. If you would simply like to self-assess then this is free

Taking responsibility for PCI compliance forms part of your merchant Terms & Conditions

What now?

For more information, including an FAQ's section please visit http://www.web-merchant.co.uk/