Pci Riser

It is no secret that today customers are more concerned than ever about the security of their information when paying online so ecommerce merchants need to do all they can to protect their customers credit card data. Using a PCI-DSS compliant payment provider is an extra security measure that can give peace of mind to merchants and to their clients.

Since June 2008 in the United States all internet payment service providers (IPSPs) have been required to become PCI- DSS compliant. As data security, credit card fraud and identity theft are hot topics around the globe, it is without a doubt that Europe's compliance standards will closely follow suite. In the very near future all European payment gateways will have to become PCI DSS certified, therefore merchants who currently accept credit cards online or are looking for a payment provider should make sure that their provider is PCI-DSS certified (LEVEL 1).

PCI security standards were developed by the major credit card companies to provide the most comprehensive single framework to address all security, data integrity and privacy concerns associated with processing payments online. Consequently all IPSPs in the United States had to become PCI compliant in order to follow Visa and MasterCards new regulations. I

Carl Buchalet, CEO of Cashtronics online payment system explains « Our clients do not have to worry about the safety of their merchant accounts as they have the protection of our level 1 PCI-DSS certification which is the highest level of security in the industry. PCI DSS Level 1 is without exception the only acceptable authorisation standard for online payment gateway providers to operate legally with maximum security.

Asking an internet payment service provider the following questions could save a company from potentially serious problems:

1) Are they PSP PCI-DSS 1 certified? (Be sure to ask for the documentation for verification)
2) Does each individual merchant receive a merchant account?
3) Does the merchant sign a contract directly with the bank?
4) What will the descriptor say on the client's credit card statement? (Will it be the company or the ISPS name- in which case they may be illegally aggregating merchants)
5) Who is wiring the funds, the IPSP or the bank? (Whoever is handling the funds must be in good financial health)

Merchants must be very thorough when researching for their potential internet payment provider in order to avoid the serious consequences that can arise from working with non PCI Certified payment providers. This compliance will soon be mandatory across Europe so merchants must verify that their payment provider already is PCI compliant or is planning on becoming so.

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