PCI Compliance PDF Print E-mail
Visa, USA and MasterCard International have put forth the ruling. Level 4 merchants must be PCI compliant by July 31, 2007, or strict fines (up to $25,000 per month) will be imposed. What is PCI compliance? What are level 4 merchants? Does your business need to worry?

Level 4 merchants make up more than 30% of business that accept bank cards in the United States. However, more than 80% of fradulent credit card activity initiates from Level 4 merchants. If you company has monthly volume less that $999,999.00 per month in non-internet, it is a level 4. If you accept $19,999.00 in internet sales per month you also fall into the level 4 catagory.


The PCI (or Paymnet Card Industry Counsil) has determined what security standards need to be inplace to protect cardholder's sensitive information. In managing that sensitive information the Visa and Mastercard can control the causes of fraud and reduce it to managable levels. Those standards are not difficult to meet, but, if you received a self-evaluation recently (click here to download one from us ), you know that understanding if you are compliant may be the most difficult part of the process.

July 31, 2007 was the deadline for Level 4 merchants. Level 1 deadline is September 30, Level 2 has untill the end of the year. If you received a self-evaluation, and failled to fill it out and return it to your processor, you may be in danger of strict and high fines, and you also may be missing out on the best part of PCI compliance, discounts in regular monthly fees.

To make sure your business stears clear of any fines and gets the lowest possible rates, schedule your walk through and rate evaluation with Thrive today.

 

To view links to more information about PCI Compliance Click Here .

 
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