Do you take card payments? You might not know it, but it’s your job to protect your customer’s financial information. Which means you need to comply with the Payment Card Industry Data Security Standard (PCI DSS Compliance).
This is a mandatory security requirement that applies to all businesses taking card payments in person, over the phone or online – it helps keep both you and your customers safe from data breaches. But who oversees all this? The PCI Security Standards Council. They require all major card types (like Visa and Mastercard), payment service providers, banks, and any other organisations/businesses that process card payments to prove they’re PCI compliant.
This article contains the following information:
Why you need to comply with PCI DSS
When you accept a card payment, you and your customer are sharing sensitive, financial information.
All Paymentsense customers need to demonstrate compliance with PCI standards. This allows you to formally demonstrate that you are handling and managing customer data as securely as possible. In the event of a card security breach, it will help you prove you’re doing everything you can to prevent the fraudulent use of information.
All new Paymentsense customers have two months to become compliant with PCI standards. After this time, you will be charged PCI non-compliance fees.
How to become PCI compliant
You must complete an online self-assessment every 12 months to assess the potential risks of your payment process system. Our PCI Portal guides you through the whole thing, helping you report your compliance and meet industry standards. We send you login details when you sign up.
The assessment can range between 14 to over 300 questions, depending on your type of business and payment method used. You may also need to complete a network scan each quarter to ensure your business networks are safe and secure.
We recommend completing the self-assessment in your place of business so you have easy access to all the information you need.
Need help? Use our phone validation service
We understand that your time is precious and completing the compliance assessment can be confusing. Contact our team of PCI specialists on 0808 169 1479. Our phone validation service is the quickest and easiest way to complete the assessment correctly, ensuring you are PCI compliant for a whole year.
PCI compliance costs
1. PCI Management
This is the cost for us to manage our PCI compliance program and security systems that protect your business and your customers.
Amount: £4.95 or €4.95 per month.
When is it charged? Quarterly Paymentsense bill
2. PCI Phone Validation
This is an optional service where we can help you complete the PCI compliance assessment over the phone in as little as ten minutes. Find out more about PCI Phone Validation.
Amount: Price can vary
When is it charged? Optional and billed once per year by Paymentsense.
3. PCI Non-compliance
This is the fine for not completing the PCI DSS assessment, which is required to demonstrate your compliance with the industry standards for card payment security. At the beginning of your contract with us, you have a two month grace period before you are liable for monthly non-compliance fines.
In addition to the fine, your customer’s information may be at risk of compromise and fraudulent use. The UK Cards Association advises that fraudsters “target the weak links in the payment chain to steal payment data and personal information for the purpose of committing fraud.”
To avoid this charge, become PCI compliant now.
Amount: £35 or €25 ex VAT
When is it charged? Every non-compliant month
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