Is your Company PCI Compliant?
If you accept credit cards, PCI compliance applies to you.
Regardless of size or industry, all companies that accept credit cards must adhere to the safeguards mandated by the Payment Card Industry Data Security Standard—referred to as the PCI DSS. While most companies are aware of PCI, many are unsure what it means for their businesses. As well, companies that use a third party for clearing and remittance often incorrectly assume that PCI compliance does not apply to them. PCI compliance applies to all companies that take credit cards whether it is it thru your software, the internet or a phone line.
So, what are the risks of noncompliance? Beyond exposing your customers to fraud or identity theft, your business can be held responsible for the credit card company’s losses. In the event of a security breach or lack of PCI compliance, credit card institutions can assess your company higher credit card processing fees and levy fines of up to $500,000—or even bar your company from processing any credit card transactions at all. Keep in mind that this applies to all companies that accept payment by plastic—even if they don’t store any related data.
PCI compliance became effective July 1, 2010. If you are not PCI compliant, MAS Software Solutions can assist your company in getting there. This includes customers who are not using the Sage Software credit card module or Sage Software Credit Card Processing. Please contact MAS Software Solutions at 913-312-8999 and let us help you become PCI Compliant.