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PCI Compliance
What is PCI?
Payment Card
Industry Compliance (PCI) is the act of following and maintaining
business practices that have been adopted by Visa, MasterCard, American
Express and Discover in order to establish a “measure of security” in
order to protect each customer’s payment card information as well as to
protect the merchant from costly fines for not storing the cardholder's
data in a secure way. It’s a requirement to be compliant for all
merchants that store, transmit, or process payment card information.
The cost is incurred by all merchants that accept credit cards by phone and is for making sure that all
merchants are maintaining PCI compliance.
Why do I Pay a
PCI Fee?
The fines for
mishandling card holder data can run into the thousands for each
occurrence. Working with a PCI compliant processor helps to prevent
such occurrences from happening and also helps to build trust in the
minds of your customers.
Do Other
Processors Charge a PCI Fee?
All processors are
required to make sure their merchants are PCI compliant. Of coarse
there are costs associated with the time and efforts to ensure that all
merchants are compliant. Any processor that is working to help their
merchants to be compliant will have a PCI fee.
Does
Phone Credit Card Processing have a PCI Fee?
Yes. We charge an
annual PCI fee.
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