Accepting credit cards within your company? You probably need to know a bit about PCI compliance. Take a look at a few of the most frequently asked questions now.
What Is PCI Compliance?
PCI Compliance is a 2006 global policy to help protect credit card holders. Major credit card brands, including American Express, Discover, Mastercard, and Visa, have mandated that businesses have to remain compliant the policy if they utilize credit cards.
Do I Need to Worry About Remaining Compliant?
Anyone who processes cardholder information has to be PCI compliance. It really doesn’t matter how often you do so. If you hold that information, or even if you exchange it, you have to be compliant. Even if you process a single transaction each year, compliance is an absolute must.
Are There Consequences Involved?
If your company isn’t compliant, there are several consequences involved. They typically start with a simple warning, but the Card Associations can fine your company or even revoke your right to process credit card transactions at all.
Is It Hard to Be PCI Compliant?
It’s easier than you think to become PCI compliant. Typically, it’s just a matter of working with a payment processing solution that helps you become compliant. Any provider will offer the multiple layers of defense and secure data protection model necessary to help encrypt the information going from one place to another, a must in the world of compliance.
There are four levels of PCI compliance, depending on the size and type of business you run, and we can help you decide which one is right for your company.
Learn just how easy it can be to become PCI compliant when you work with us. Contact Y2Payments today to learn more.