In response to the new challenges of accepting credit cards, the major card brands (including MasterCard, Visa, American Express, and Discover) established a committee to create standards and best practices geared to assist your business in maintaining the safety of your customers information. When you follow these Data Security Standards (DSS), you will reduce your risks as a merchant drastically.
Merchant Responsibilities include:
Build and Maintain a Secure Network
Protect Cardholder Data
Maintain a Vulnerability Management Program
Implement Strong Access Control Measures
Regularly Monitor and Test Networks
Maintain an Information Security Policy
Do I need to become PCI Compliant?
The last two decades have brought about drastic change in the way merchants need to do business in order to stay competitive. A large number of your customers now use credit cards as a major form of payment. These changes are not without their challenges. Since January 2005, approximately 234 million records have been breached from retailers according to Privacy Rights Clearinghouse (www.privacyrights.org). It is now the retailers’ responsibility to protect the card holder data from theft. Consider this process a cost of doing businesses that you cannot do without.
Your customers will expect that your business is applying every means necessary to keep their information safe.
Where are you vulnerable?
Point of Sale Systems
Personal Computer Systems
Consumer Facing Internet Stores
Wireless Hot Spots
The PCI Security Standards Council is a global forum for security standards and data protection.
Why Security Matters
The breach or theft of cardholder data affects the entire payment card ecosystem. Customers suddenly lose trust in merchants or financial institutions, their credit can be negatively affected -- there is enormous personal fallout. Merchants and financial institutions lose credibility (and in turn, business), they are also subject to numerous financial liabilities.
“The security benefits associated with maintaining PCI compliance are vital to the long-term success of all merchants who process card payments. This includes continual identification of threats and vulnerabilities that could potentially impact the organization. Most organizations never fully recover from data breaches because the loss is greater than the data itself.”
— Quick Service Restaurant (QSR)Magazine
The security of cardholder data affects everybody
The Transmitting of Data to Service Providers - If your business experiences a breach of cardholder data, fines can equal tens of thousands of dollars. FYT Services is here to help you to drastically reduce your risks with our PCi compliant terminals & POS equipment.