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If you process credit cards, you can’t avoid dealing with PCI (Payment Card Industry) compliance—and the best thing you can do is educate yourself so your business and systems adhere with these important guidelines at all times. All merchants fall into one of four merchant PCI compliance levels, which are determined based on your Visa transaction volume and type over the period of a year. Visa transactions include all credit, debit and prepaid cards with the Visa logo. Let’s take a look at how merchants are classified into the four levels. PCI Compliance Level 1 Merchant Any merchant that processes over 6 million Visa transactions per year (regardless of the processing channel: in-store, online, etc.) Any merchant that Visa determines should be a Level 1 merchant to minimize risks to the Visa system Due to their high annual processing volumes, Level 1 Merchants must take the greatest efforts to secure their processing systems. These merchants must complete annual on-site rev

Adhering to the PCI (Payment Card Industry) standards for protecting card data is everyone’s business. If you process, store or transmit card data, you have to abide by these standards. In 2015, the 3.0 version of the guidelines was released with some important updates. The PCI Security Standards Council published the update as a result of shifting needs in the payments industry and as a response to current market needs in the following areas: Lack of education and awareness Weak passwords and authentications by merchants and service providers Third-party security challenges Slow self-detection and malware Inconsistency in assessments PCI 3.0 requirements became effective in January 2015 and July 2015 (depending on the specific requirements), but some merchants are still unclear on what they mean for their business. Don’t risk being in the dark on compliance requirements and leave your business vulnerable to a data breach. Let’s review what these updates mean for m

Unsure of which security features are worth the investment and which are not right for your merchant services? You're not alone. But before you throw up your hands, check out these top 5 recommendations on how to think about payments security, so you can narrow down your search based on what your business needs. 1. Fraud tools, encryption & tokenization — catching card crime before it starts Online or in-store, there are a number of payment securities solutions that you can use to stop credit card crime before it starts. Fraud detection and encryption at the physical point of sale can help you stop the presentment of fraudulent cards and protect the data associated with legitimate cards as it travels through the authorization process. These types of payments securities, specifically fraud tools and tokenization, are critical deterrents to card crime in the faceless world of online payments--eCommerce, card-on-file, recurring subscription, etc. Online businesses oft

The Payment Card Industry Data Security Standard (PCI DSS) is a security standard developed by the major card brands (Visa®, MasterCard®, Discover®, American Express® and others) to help merchants protect credit cardholder data. Merchants who process credit cards are required to be PCI compliant in order to protect cardholder data. The requirements associated with maintaining PCI compliance vary depending on the size and processing method of the business.   There are four levels, or “tiers,” and each level has its own requirements. Read on to identify which level applies to your business and the steps you can take to achieve compliance for your tier. What are the “tiers” associated with PCI compliance? 1. Level 1 Merchants: Level 1 or Tier 1 merchants process over 6 million Visa* transactions annually through all channels (card present, card not present, ecommerce.)   Also, any worldwide merchant that processes a total of 6 million transactions across all regions may ca

Credit card fraud can happen at your brick-and-mortar store, on the telephone or online, putting customers’ sensitive information at risk. Spotting fraudulent activity can be difficult during online or telephone transactions since the customer and the card are not present. However, knowing the signs of suspicious activity can help minimize the risk of credit card fraud at your brick-and-mortar store. While there is no 100 percent-accurate test to identify fraud, being able to identify certain behavioral queues and credit card characteristics can help you stop fraudulent activity before you become a victim. They also complement tools like chip cards and EMV acceptance designed to help you stop acceptance of fraudulent credit cards at the point of sale. Customer behavior You've seen a lot of customers walk through your door and you know how the average customer acts. If a customer is exhibiting strange behavior it should raise a red flag. Keep an eye out for instanc

By now you’ve surely heard about the EMV shift that has been well underway in the United States for the past year. However, you might not be aware of the differences between the two different types of EMV transactions: chip-and-PIN and chip-and-signature. Here, we break down those types of transactions and weigh their pros and cons. Chip-and-signature EMV transactions Chip-and-signature is the most prevalent form of EMV transactions in the U.S. Most banks and other financial institutions offer chip-and-signature EMV cards as their “go to” EMV card type. Chip-and-signature cards contain all the key characteristics of EMV technology, including: A magnetic stripe Fraud protection Widely accepted by EMV terminals What’s more, the chip-and-signature EMV process is quick, easy and familiar to credit card users: Simply insert the card into the terminal, allow the transaction to process and sign for your purchase. However, this does leave some wiggle room for fraudster

Accepting credit cards doesn't have to be a constant exercise in paranoia about whether your customers' credit card data is safe or not. Here are 10 solutions for protecting the credit card data of your customers. 1. You can’t go it alone Like anything in life—when there's a lot on your plate, you can't manage it all without help. Card data security, fraud protection and securing your customers’ information in your store is more than a one-person job. It's everyone's job. Get everyone in your business, including your customers, thinking about card data security and fraud at the point of sale. 2. EMV installation You're probably tired of hearing about EMV and chip cards at this point, but if you don't have one, you're putting yourself and your own profits in jeopardy. Chip cards, and the EMV-enabled credit card terminals that can read them, are designed to stop fraud at the point-of-sale. A "forged" card is difficult to pa

If you haven't been keeping up with the many data security breaches at companies both big and small, then perhaps it's time you start. It's staggering how many retailers, businesses, healthcare providers and even governments have had sensitive information stolen. The byproducts of these are many, including the use of stolen card data both in online payment presentation, as well as forged credit and debit cards used in-person at the point of sale. Dominating payments news headlines even more has been the discussion of EMV (Europay, MasterCard and Visa)—chip card issuance and acceptance at in-store points of sale. EMV acceptance is designed first to stop retailers and businesses from accepting fraudulent cards. It's also designed to save businesses and consumers from fraudulent transactions that lead to those ugly chargebacks. It's especially important for your business now that liability for fraudulent transactions made at the point-of-sale is shifting bac

You hear news about data breaches, fraud, and online security almost every day. You know you need to take steps to keep your customers and your business safe, but you’re far too busy to become a security expert. This article helps demystify data security standards for businesses that accept credit cards. The Payment Card Industry Data Security Standard (PCI DSS) protects consumer credit card data by reducing the risk of data breaches and payment fraud. Major payment schemes including Visa, Mastercard and American Express established PCI DSS as a security baseline for merchants using their credit card networks. If your business accepts credit cards, you need to be in compliance with PCI DSS. Failure to comply with PCI mandates leaves businesses vulnerable to a data breach and the potentially devastating financial impacts of fraud. Beyond the requirements, PCI DSS standards represent common sense best practices that reduce security risk and save your business money. Th

If you haven't been keeping up with the many data security breaches at companies both big and small, then perhaps it's time you start. It's staggering how many retailers, businesses, healthcare providers and even governments have had sensitive information stolen. The byproducts of these are many, including the use of stolen card data both in online payment presentation, as well as forged credit and debit cards used in-person at the point of sale. Dominating payments news headlines even more has been the discussion of EMV (Europay, MasterCard and Visa)—chip card issuance and acceptance at in-store points of sale. EMV acceptance is designed first to stop retailers and businesses from accepting fraudulent cards. It's also designed to save businesses and consumers from fraudulent transactions that lead to those ugly chargebacks. It's especially important for your business now that liability for fraudulent transactions made at the point-of-sale is shifting bac