The document discusses PCI compliance for businesses that accept credit card payments. It explains that all businesses that process credit/debit card transactions, regardless of size, are required to comply with PCI security standards. It addresses common myths about PCI compliance, clarifying that even small businesses and non-ecommerce companies must comply, and that outsourcing payment processing does not guarantee compliance. The document provides answers to frequently asked questions about PCI compliance levels, vulnerability scanning, and whether debit card transactions are in-scope.
ECMTA 2009 PCI Compliance and the Ecommerce MerchantMelanie Beam
Since the deadline for level 4 merchants to be in compliance is July 2010, I thought I\'d share this presentation I did in July of 2009 at the Ecommerce Summit.
PCI Compliance - How To Keep Your Business Safe From Credit Card CriminalsFit Small Business
Cyber criminals are shifting their focus to target smaller businesses that accept credit card payments, which means your business could be next. With 60% of small businesses going under within 6 months of being breached, the cyber security and PCI compliance of your business should be one of your top priorities. - See more at: http://fitsmallbusiness.com/pci-compliance-for-small-businesses/#sthash.ex1SwoaB.dpuf
From the eCommerce Summit in Atlanta June 3-4, 2009 where Mountain Media explains the topic of PC Compliance for online merchants. Visit http://www.ecmta.org to find out more.
ECMTA 2009 PCI Compliance and the Ecommerce MerchantMelanie Beam
Since the deadline for level 4 merchants to be in compliance is July 2010, I thought I\'d share this presentation I did in July of 2009 at the Ecommerce Summit.
PCI Compliance - How To Keep Your Business Safe From Credit Card CriminalsFit Small Business
Cyber criminals are shifting their focus to target smaller businesses that accept credit card payments, which means your business could be next. With 60% of small businesses going under within 6 months of being breached, the cyber security and PCI compliance of your business should be one of your top priorities. - See more at: http://fitsmallbusiness.com/pci-compliance-for-small-businesses/#sthash.ex1SwoaB.dpuf
From the eCommerce Summit in Atlanta June 3-4, 2009 where Mountain Media explains the topic of PC Compliance for online merchants. Visit http://www.ecmta.org to find out more.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Everything You Need to Know About Taking PlasticBusiness.com
Consumers are so used to the convenience of credit and debit cards that it's no longer an option for a merchant to take plastic -- it's a necessity. Consumers expect to be able to use plastic to pay for everything, even small items. From their point of view, that's the end of the transaction but it's a whole different story for the merchant.
From credit card readers to securing the networks to transmitting information to the bank, there are multiple steps that must happen before the money is finally deposited into the merchant's account.
An electronic payment, also known as an e-payment, is a payment made or accepted online. Buyers can make these electronic payments with credit cards, debit cards, electronic checks, and virtual cards.
For companies and suppliers, business-to-business (B2B) e-payments are beneficial in several ways. One of the benefits for a company that incorporates e-payments is lower transaction processing costs. Processing costs can be lowered by as much as 80 percent because companies do not have to use paper, postage, printing, and mailing services.
Another non-monetary impact of electronic payments is an improved relationship between a company and its suppliers. This is due to faster payments to suppliers, more secure payments, and ready data to help suppliers perform payment reconciliation.
Leveraging Analytics to Combat Digital Fraud in Financial OrganizationsRicardo Ponce
Digitization creates major opportunities for financial services – automating operations, expanding channels, delivering engaging customer experiences. There are corresponding
challenges – unprecedented data and transaction volumes, channel control in electronic marketplaces, and preventing fraud when the fraudsters are technologically adept. To discuss the opportunities, challenges, and solutions around financial fraud in the digital age, IIA spoke with David Stewart, Director, Security Intelligence Practice-Banking at SAS Institute Inc.
Company names mentioned herein are the property of, and may be trademarks of, their respective owners and are for educational purposes only.
Compiled and designed by Mark Fullbright , Certified Identity Theft Risk Management Specialist™ (CITRMS) as a free service for businesses to protect themselves and reduce their exposure to identity theft. Stay Safe, Stay Secure
Shopify makes it easy for you to choose the right payment methods that are the perfect fit for your customers. Below are some of the critical points to keep in mind before you hire a Shopify development agency that can deliver as per your needs.
To know more visit at https://www.thinktanker.io/blog/seamless-payment-integration-with-shopify.html
Factors to Consider While Choosing a Payment Gateway ProviderAlaina Carter
A payment gateway is a software that authorizes payment processing for e-businesses. With the help of these payment gateways, it becomes easy to accept several types of electronic payments. Read more to know what are the factors to consider while choosing a payment gateway provider.
Hi Friends,
This is the Report on Survey of Online Banking for Women which is basically based on Survey which is done by our group and I also includes Pie chart, Line chart and Bar chart for the same...
Thank You !
Regards,
Rahul Shah
(rahulshah4345@gmail.com / +91-9408134345)
Proprietary and Confidential. Service Provider Overview. Mastercard does not object to a Customer's use of a third party, but does need to know what third party(ies) support a particular
Btl mastercard Customer, and the nature of the support provided. A Service Provider may only perform the Program Services it is registered to perform
07 factors to consider while choosing an ecommerce payment gatewaySnehaDas60
As we all know, ecommerce portal conversion rates fall as a result of a lack of research when choosing a payment gateway.There are plenty of advance payment channels now that internet commerce has taken over the globe. Choosing the most potent ones, on the other hand, is essential to making the most of it.
For those who have a good understanding of payment gateways, let's look at the important elements to consider when selecting one for your eCommerce site.
Read more......
Understanding the Card Fraud Lifecycle : A Guide For Private Label IssuersChristopher Uriarte
With credit card fraud dramatically on the rise, particularly in the form of card-not-present (CNP) fraud across Internet and Mail Order/Telephone Order (MOTO) channels, it is important for private label issuers to understand the depth of this problem and how it affects their merchant portfolio and their ability to accept private label cards. Private label cards were often considered to be “low risk”, relative to traditional bank cards, but our current analysis has shown the contrary: fraudsters are increasingly using private label cards as the payment instrument in CNP channels and merchants are at great risk if specific strategies are not put in place to stop it.
Recognizing employee performance is the best way a company can increase productivity. Here is an infographic on how to implement a recognition program.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Everything You Need to Know About Taking PlasticBusiness.com
Consumers are so used to the convenience of credit and debit cards that it's no longer an option for a merchant to take plastic -- it's a necessity. Consumers expect to be able to use plastic to pay for everything, even small items. From their point of view, that's the end of the transaction but it's a whole different story for the merchant.
From credit card readers to securing the networks to transmitting information to the bank, there are multiple steps that must happen before the money is finally deposited into the merchant's account.
An electronic payment, also known as an e-payment, is a payment made or accepted online. Buyers can make these electronic payments with credit cards, debit cards, electronic checks, and virtual cards.
For companies and suppliers, business-to-business (B2B) e-payments are beneficial in several ways. One of the benefits for a company that incorporates e-payments is lower transaction processing costs. Processing costs can be lowered by as much as 80 percent because companies do not have to use paper, postage, printing, and mailing services.
Another non-monetary impact of electronic payments is an improved relationship between a company and its suppliers. This is due to faster payments to suppliers, more secure payments, and ready data to help suppliers perform payment reconciliation.
Leveraging Analytics to Combat Digital Fraud in Financial OrganizationsRicardo Ponce
Digitization creates major opportunities for financial services – automating operations, expanding channels, delivering engaging customer experiences. There are corresponding
challenges – unprecedented data and transaction volumes, channel control in electronic marketplaces, and preventing fraud when the fraudsters are technologically adept. To discuss the opportunities, challenges, and solutions around financial fraud in the digital age, IIA spoke with David Stewart, Director, Security Intelligence Practice-Banking at SAS Institute Inc.
Company names mentioned herein are the property of, and may be trademarks of, their respective owners and are for educational purposes only.
Compiled and designed by Mark Fullbright , Certified Identity Theft Risk Management Specialist™ (CITRMS) as a free service for businesses to protect themselves and reduce their exposure to identity theft. Stay Safe, Stay Secure
Shopify makes it easy for you to choose the right payment methods that are the perfect fit for your customers. Below are some of the critical points to keep in mind before you hire a Shopify development agency that can deliver as per your needs.
To know more visit at https://www.thinktanker.io/blog/seamless-payment-integration-with-shopify.html
Factors to Consider While Choosing a Payment Gateway ProviderAlaina Carter
A payment gateway is a software that authorizes payment processing for e-businesses. With the help of these payment gateways, it becomes easy to accept several types of electronic payments. Read more to know what are the factors to consider while choosing a payment gateway provider.
Hi Friends,
This is the Report on Survey of Online Banking for Women which is basically based on Survey which is done by our group and I also includes Pie chart, Line chart and Bar chart for the same...
Thank You !
Regards,
Rahul Shah
(rahulshah4345@gmail.com / +91-9408134345)
Proprietary and Confidential. Service Provider Overview. Mastercard does not object to a Customer's use of a third party, but does need to know what third party(ies) support a particular
Btl mastercard Customer, and the nature of the support provided. A Service Provider may only perform the Program Services it is registered to perform
07 factors to consider while choosing an ecommerce payment gatewaySnehaDas60
As we all know, ecommerce portal conversion rates fall as a result of a lack of research when choosing a payment gateway.There are plenty of advance payment channels now that internet commerce has taken over the globe. Choosing the most potent ones, on the other hand, is essential to making the most of it.
For those who have a good understanding of payment gateways, let's look at the important elements to consider when selecting one for your eCommerce site.
Read more......
Understanding the Card Fraud Lifecycle : A Guide For Private Label IssuersChristopher Uriarte
With credit card fraud dramatically on the rise, particularly in the form of card-not-present (CNP) fraud across Internet and Mail Order/Telephone Order (MOTO) channels, it is important for private label issuers to understand the depth of this problem and how it affects their merchant portfolio and their ability to accept private label cards. Private label cards were often considered to be “low risk”, relative to traditional bank cards, but our current analysis has shown the contrary: fraudsters are increasingly using private label cards as the payment instrument in CNP channels and merchants are at great risk if specific strategies are not put in place to stop it.
Recognizing employee performance is the best way a company can increase productivity. Here is an infographic on how to implement a recognition program.
Womenomic Luxury, Cognitive Technology, New Wave Boomer Beauty—just a few items from our Future 100 list of what’s next in the year ahead.
It’s a wide-ranging compilation that reflects developments surfacing across sectors including technology, retail, food and beverage, travel, sustainability and luxury. The list also includes new types of goods or businesses, new behaviors and ideas with the potential to ladder up to bigger trends.
The first year of opening a business can be overwhelming and business owners need to be prepared to endure on the unpredictable ride. In efforts to make that ride more gratifying, here is a closer look at 10 tips on how to thrive and survive the first year of business.
This graphic explains what PCI compliance is, that is required for all companies that accept credit card transactions, and outlines the PCI Compliance Process.
Choose an online payment service to maximize your revenue while detecting fraud with their integrated risk management solution. They use an advanced decision-making platform to prevent online fraud from happening. Best of all, since it is built into the payment gateway, there is no need for a third-party solution. Visit @ https://www.paymentasia.com/en/product-and-services/online-payment-solutions
Any business wanting to process credit cards needs to handle card data. Recent development of payment card industry was followed by growing risks of credit card fraud of different sorts and identity theft.Get to know about PCI compliance to protect cardholder data from being stolen or compromised.
More information can be found at #UniPayGateway unipaygateway.com
We all know that fraud and chargebacks are harmful. But do you know how fraud and chargeback prevention works? How can you fight them effectively? Find all the answers in our complete guide to chargeback prevention - https://goo.gl/zR5L7g
Start accepting payments on your website →→→ https://bit.ly/2xIN1Oj
What Everybody Ought to Know About PCI DSS and PA-DSS.
Learn how to comply with the training requirements of PCI DSS, protect cardholder data, avoiding social engineering and malicious downloads and how to update software and anti-virus programs.
PCI DSS can be one of the most infuriating set of standards on the compliance landscape. While it seems simple--six domains and twelve requirements--the art of interpreting PCI can lead to full blown war in an organization--with the security team at the center. In this session we’ll demystify some of the more difficult and misunderstood aspects of PCI DSS. We’ll cover the important changes from recently announced PCI DSS 3.0. We’ll also discuss the best practices for starting (and maintaining) a PCI DSS initiative in an organization and how to avoid battles with the QSA.
Whether you are a retail store, restaurant, or e-commerce website, having a credit card merchant account opens doors to new opportunities and revenue streams. Visit us at: https://webpays.com/credit-card-merchant-account.html
Our team of expert volunteers have compiled an overview of the top KYC (Know Your Customer) and AML (Anti-Money Laundering) providers that cater to startups and small businesses. These providers offer robust solutions to help businesses comply with regulatory requirements, mitigate risk, and safeguard against financial crimes. Our overview includes the top providers based on their industry reputation, features, customer support, and affordability, making it easier for startups and small businesses to choose the right KYC AML solution to fit their needs.
Visit the following link for more information:
https://comparison.kycamlguide.com/
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[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
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RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
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2. When your business — no matter its size — began accepting credit card payments, it
immediately became a potential target for data thieves.
Much more is at risk than your customers’ sensitive information, however. If you aren’t employing the best industry
practices to protect that data, your business could face fines, lose the ability to accept credit and debit card payments,
and jeopardize its credibility.
To help protect consumers’ credit card information from data thieves, the Payment Card Industry Security Standards
Council created data security standards that businesses must follow to be in compliance.
The cost of noncompliance can be staggering. The bank that processes your payments could be fined $5,000 to
$100,000 per month by the credit card companies — amounts likely to be passed along to you — until the business
is following the requirements. Your bank also could raise the fees it charges to process your business’s transactions,
or stop handling them altogether. (Check your account agreement with the bank.) Your business also might have to
cover the cost if the bank has to issue new cards to customers whose data has been compromised — and who could
become former customers if there has been a data breach. Finally, your business also may be liable for losses due to
fraud and other financial losses.
THE IMPORTANCE OF PCI COMPLIANCE
PCI FAQ’S AND MYTHS BLUEPAY | 2
3. TABLE OF CONTENTS
FAQ 1: What are the PCI compliance levels and how are they determined? 4
FAQ 2: My business has multiple locations; is each location required to validate PCI compliance? 5
FAQ 3: Am I PCI compliant if I have an SSL certificate? 6
FAQ 4: What is a vulnerability scan? 7
FAQ 5: Are debit card transactions in scope for PCI? 8
MYTH 1: I’m a small merchant who takes only a handful of cards, so I don’t need PCI. 9
MYTH 2: PCI applies only to e-commerce companies. 10
MYTH 3: I can wait until my business grows. 11
MYTH 4: Outsourcing card processing makes us compliant. 12
MYTH 5: PCI compliance is an IT project. 13
PCI FAQ’S AND MYTHS BLUEPAY | 3
4. FAQ 1:
WHAT ARE THE PCI COMPLIANCE LEVELS
AND HOW ARE THEY DETERMINED?
There are four levels of PCI compliance as determined by Visa and MasterCard. These levels are
based on the transaction volume (including credit, debit and prepaid) over a 12-month period.
Merchants that have been affected by a security breach that resulted in compromised card data
may be escalated to the next level.
Merchant Level Description
• Any merchant processing more than $6 million Visa and/or MasterCard transactions per year.
• Any merchant processing $1 million to $6 million Visa and/or MasterCard transactions per year.
• Any merchant processing $20,000 to $1 million Visa and/or MasterCard e-commerce transactions
per year.
• Any merchant processing less than $20,000 Visa and/or MasterCard e-commerce transactions per
year, and all other merchants processing up to $1 million Visa and/or MasterCard transactions per year.
PCI FAQ’S AND MYTHS BLUEPAY | 4
5. FAQ 2:
MY BUSINESS HAS MULTIPLE LOCATIONS; IS EACH
LOCATION REQUIRED TO VALIDATE PCI COMPLIANCE?
Best practices would be to certify each merchant ID (MID) number individually. Some
businesses choose to certify by multiple MID numbers under one entity. However, if multiple
locations are certified under one entity and a compromise were to occur, all MID numbers
are subject to forensic investigation (versus only the identified MID).
PCI FAQ’S AND MYTHS BLUEPAY | 5
6. FAQ 3:
AM I PCI COMPLIANT IF I HAVE AN SSL CERTIFICATE?
No. An SSL certificate is just one piece of the puzzle to becoming PCI compliant. You
must establish strong encryption of the cardholder’s data during transmission over open,
public networks. In addition, you need to validate that the website operators are a legitimate,
legal organization.
PCI FAQ’S AND MYTHS BLUEPAY | 6
7. A vulnerability scan is an automated tool that conducts a nonintrusive scan of a merchant or
service provider’s system to remotely review networks and Web applications based on the
external-facing Internet protocol (IP) addresses provided by the merchant or service provider.
The scan pinpoints vulnerabilities in operating systems, services and devices that could be
used by hackers to target the company’s private network. Approved Scanning Vendors (ASVs),
such as ControlScan, do not require the merchant or service provider to install any software on
their systems, and no denial-of-service attacks will be performed.
FAQ 4:
WHAT IS A VULNERABILITY SCAN?
PCI FAQ’S AND MYTHS BLUEPAY | 7
8. Any debit, credit and prepaid cards branded with one of the five card association/brand
logos that participate in the PCI SSC — American Express, Discover, JCB, MasterCard and
Visa International — are within scope.
FAQ 5:
ARE DEBIT CARD TRANSACTIONS IN SCOPE FOR PCI?
PCI FAQ’S AND MYTHS BLUEPAY | 8
9. Merchants are divided into four categories based on the number of card transactions handled in
a 12-month period, but all must meet PCI requirements regardless of their size-level designation.
Smaller merchants do face fewer validation requirements, however. For a Level 4 merchant
(processing fewer than 20,000 e-commerce transactions or up to 1 million transactions overall),
an annual self-assessment questionnaire is recommended and a network scan by an approved
vendor is to be performed quarterly if applicable, but the requirements of the bank handling the
merchant’s transactions still must be met for the business to be in compliance.
MYTH 1:
I’M A SMALL MERCHANT WHO TAKES ONLY A HANDFUL
OF CARDS, SO I DON’T NEED PCI
PCI FAQ’S AND MYTHS BLUEPAY | 9
10. MYTH 2:
PCI APPLIES ONLY TO E-COMMERCE COMPANIES
Whether your business handles one transaction or hundreds of credit/debit card purchases
per day, it is subject to the PCI Data Security Standards regardless of whether the transactions
are electronic, in person or by phone. The requirements apply to your business if any customer
ever pays you directly using a debit or credit card.
PCI FAQ’S AND MYTHS BLUEPAY | 10
11. MYTH 3:
I CAN WAIT UNTIL MY BUSINESS GROWS
As previously noted, a business of any size that processes a credit or debit card transaction
is subject to PCI compliance. If you think your business is too small to attract a hacker,
consider this: About 60 percent of cyber attacks in 2015 targeted small and medium-sized
businesses, which in general have smaller or less sophisticated IT security staffs and
resources than big corporations.
Overall, 42 percent of small businesses surveyed by the National Small Business Association
reported experiencing a cyber attack. Among types of attacks, the theft of credit card
information was second behind a general computer hack. The firms whose business bank
accounts were hit suffered an average of more than $32,000 in losses, and 42 percent of small
businesses said it took them more than three days to resolve a cyber attack issue.
PCI FAQ’S AND MYTHS BLUEPAY | 11
12. Relying on an outside vendor does not ensure that your business is PCI compliant.
Outsourcing could reduce your risk and make it easier to prove that your business
is compliant, but much like with paying your taxes to the IRS, relying on an external
“expert” does not relieve your accountability.
MYTH 4:
OUTSOURCING CARD PROCESSING MAKES US COMPLIANT
PCI FAQ’S AND MYTHS BLUEPAY | 12
13. Any temptation to shift the entire burden of PCI compliance onto the IT staff could prove costly.
While IT can set up, run and test programs, compliance is an ongoing task. Rules change
and regular assessments are needed, and with so much at stake from financial and reputation
standpoints, your entire organization is affected.
MYTH 5:
PCI COMPLIANCE IS AN IT PROJECT
PCI FAQ’S AND MYTHS BLUEPAY | 13
14. BluePay, Naperville, IL
(Note: BluePay has multiple offices nationwide and in Canada; corporate headquarters is in Naperville)
www.bluepay.com
866-495-0423 (sales, toll free)
866-739-8324 (U.S. merchant support, toll free)
BluePay is a leading provider of technology-enabled payment processing for merchants and suppliers of any size in
the United States and Canada. Through physical POS, online, and mobile interfaces, as well as CRM and ERP software
integrations, BluePay processes business-to-consumer and business-to-business payments while providing real-time
settlement, reporting, and reconciliation, along with robust security features such as tokenization and point-to-point
encryption. BluePay is headquartered in Naperville, Illinois, with offices in Chicago, Maryland, New York and Toronto.
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