PCI Compliance or Payment Card Industry Data Security Standard is a security measure for businesses that deal with branded credit cards from the major card companies.
What is PCI Compliance?
No doubt your business has encountered the term PCI Compliance in reference to payment processing. That’s because with the steady rise of credit card fraud, companies must do everything in their power to fight against it.
What does that mean? PCI is the Payment Card Industry Data Security Standard. Basically, it consists of a list of security standards for the acceptance, storage, and processing of credit card information that companies must meet.
Who Must Follow PCI Compliance?
Every company that accepts, processes, or stores any credit card information must comply with the standards set forth. This protects both your business and your customer’s data by creating a safe and secure space to process payment transactions. Furthermore, if you are non-compliant with existing PCI standards, your business will be charged fees.
Regulations exist to help merchants:
- Create and sustain a secure network
- Ensure protection for customers’ sensitive information (i.e. credit card data)
- Fight against hacking and other forms of fraud
- Enforce firm data access control systems throughout your company
Work with Bank of Merchant to Ensure Compliance
With Bank of Merchant, we tackle it head on so you don’t have to worry about it. We set you up with the best tools and equipment to maintain compliance and ensure airtight security with your payment processing. This way your business adheres to the strict PCI rules and meets compliance standards while you get to focus on the day-to-day of your business.
Simply contact our agents to discuss a payment processing plan for you — secure your customers’ information with Bank of Merchant.