In every business industry there are acronyms that have a big meaning. In our industry, it is PCI – these 3 letters mean more than you might think.
PCI stands for Payment Card Industry and the security council oversees security standards that all businesses must have in place.
Sounds simple, but we know that it isn’t.
We know that you are busy running your business, doing the things that drive customers to your business and help create revenue…understanding something that is very specific, detailed and can change at any time takes time and energy.
Time and energy that many business owners do not have to expend on this topic.
However, it is very important to ensuring that you can continue to count on credit card payments as a method of collecting revenues.
This is why the TransAct team is dedicated and available to help clients get through the annual audits, the compliance scans, and proper card handling in addition to the training and even the software updates that are needed by every business that accepts credit cards as payment.
Of course, there is more to PCI than just 3 letters. It is:
- safely processing credit cards;
- accurate record keeping; and,
- maintaining up to date software.
Plus, having the right hardware, training and staff education to ensure all of the above.
Remember – as we have been reminding you – this July 2018 is the deadline to be ready for the newest standards, which includes a minimum of TLS 1.1 software (or level 1.2 preferred.) This is a significant change in the security requirements by ALL businesses that process credit cards. The SSL – Secure Socket Layer – protocol which has been around since, it seems, forever, is being phased out with the new TLS encryption protocols.
Rest assured that we are here for you – if you are unsure of whether or not you are compliant contact us to review your process and make sure that your business is compliant today. There isn’t much more time to wait! July will be here before you know it!! In a hurry, want to call to schedule a review, please reach out 800-335-6717.
~ Mary Ann
PS Here is the PCI Standards Organization’s FAQ. If you need help, you know how to contact us.