Our intent with this blog entry is to make clear to the merchant community the full financial risk of a breach. If mag-stripe data is stored on your system's hard drive or log files and this data is stolen from your system, criminals can manufacturer counterfeit cards and use these counterfeit cards at stores to buy … more
Contents tagged with Merchant Rates
While networks like Star continue to have max fee caps in place, the recent removal by Interlink, the largest PIN debit network, will put further pressure on all networks … more
As more consumers choose payment cards for purchases, retailers push for government regulation. Is this a good thing? more
Important PCI Update
Effective January 1, 2008, Phase 1 of the Visa Payment Application Mandates stipulates that no merchant may be boarded that uses a payment application identified as storing vulnerable data. The Payment Card Industry Data Security Standard (PCI DSS) prohibits the storage of the full contents of any magnetic stripe, CVV2 or PIN data. Merchants are at high risk of being compromised if they use payment applications that store prohibited data or have security weaknesses. A good resource is available at www.visa.com/pabp, where you will find a list of validated payment applications (make sure your POS is on the list) and best practices. We also recommend www.pcisecuritystandards.org and www.visa.com/cisp.
The primary threat has to do with … more
First recognize that as a merchant, you will accept a diverse mix of credit and debit cards for payment and failing to find out how specific card types like signature debit, rewards, enhanced, world, business, corporate and others will be billed leads to higher bottom line costs.
The best contacts and resources to help you get it done
Start with an understanding of Interchange
Interchange fees are paid to cardholder-issuing banks and these rates are … more