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What is PCI Compliance and how does it affect my business?

PCI is short for, The Payment Card Industry Data Security Standard (PCI DSS). PCI is a set of requirements designed to ensure that all companies that process, store or transmit credit card information maintain a secure environment. It is mandated that all credit card processing companies offer a PCI program to their merchant base.

PCI was created to improve the security standards of the Payment Card Industry. PCI is administered and managed by the PCI Security Standards Committee, an independent body that was created by the major payment card brands, (Visa, MasterCard, American Express, and Discover).

All merchants, small or large, need to be PCI compliant. To satisfy the requirements of PCI, a merchant must complete a PCI Self Assessment Questionnaire, (SAQ). Upon completion, it is determined if ongoing scanning of the merchants Point of Sale needs to be done. Note: scanning does not apply to all merchants.  It is required for those merchants with external facing IP addresses.  Basically if you electronically store cardholder information or if your processing systems have any internet connectivity, a quarterly scan by an approved scanning vendor may be required.

Processors incur additional costs to administer the PCI program. Many processors pass on these costs to their merchants in the form of monthly or annual PCI fees.

What if I do not get PCI Compliant?
A: PCI is not a law. The standard was created by the major card brands, which have the power to enforce compliance via the agreements they have with their merchant base and processing partners. Merchants that do not comply with PCI DSS may be subject to termination of services, fines, card replacement costs, costly forensic audits, brand damage, etc.

We recommend that all merchants become PCI compliant. With the Bankcard Associates Straight Rate Plan, the process is easy, with no monthly or annual PCI fees.

 

The Straight Rate Program HIGHLIGHTS

One low flat monthly fee!
Process up to 100% of your average monthly Visa/MC/Discover/American Express volume. (Special low rate for extra monthly volume.)

True wholesale rates!
No markup!

Pay only the true published interchange. The same rates processors receive.

No hidden fees!
Simple, 100% transparent program.

No long-term commitment!
Monthly, Annual, and Two year agreements available. Flexible billing options. Free Equipment: With any 2 year agreement for qualified merchants.

All card types!
Experience, professional processing for all credit cards, debit cards and gift cards.

Free equipment!
With any 2-year agreement for qualified merchants. Purchase and rental options available.

Your own support specialist!
Talk to the same person every time you call.

customer service