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WORLDPAY EDITORIAL TEAM
July 10, 2019
As a merchant, making sure your are compliant with the Payment Card Industry Data Security Standard (PCI-DSS) can be a daunting task. It’s a big responsibility, but you don’t have to go it alone. There are three common myths that merchants mistakenly believe that leave their payment systems vulnerable.
Contrary to what you may think, even the single most modern security solution will not cover your systems under PCI compliance on its own. Instead, you’ll need to employ a multifaceted approach to ensure that they fully address all . Even if you purchase a security solution that is touted as a “silver bullet” to PCI compliance, it’s important to do your due diligence to make sure you are truly covered, and stay covered.
While outsourcing your credit card payment processing can help simplify this process for you, doing so does not mean that your business is automatically PCI compliant. Even if you outsource your payment processing, you still receive and transmit sensitive cardholder data on your systems, and so must . You’ll also be responsible for handling refunds and chargebacks—another intersection between your systems and sensitive data.
Being PCI compliant is the responsibility of every person or business that receives, processes, transmits or otherwise handles sensitive cardholder financial data. Even if your company only processes one credit card transaction a month, you still must remain in compliance with PCI-DSS because your systems could still be targeted by fraudsters who want to intercept card data.
If you’ve received notification from your acquiring bank that your business needs to submit PCI compliance validation, it’s important you understand your responsibilities. Here’s how we recommend getting started:
If you are still unsure about your merchant level for PCI purposes, contact your acquirer bank (the bank that's usually connected to your processing) since they have the ultimate authority over your merchant levels.
Still have questions? Reach out to one of our payments experts to learn more.
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