Card Payment Compliance - PCI standards are coming
Posted on Feb 3, 2005
Direct Quote from Visa:
"If a merchant or service provider does not comply with the PCI security requirements or fails to rectify a security issue, Visa may:
- Fine the acquiring member (your merchant bank)
- Impose restrictions on the merchant or its agent, or
- Permanently prohibit the merchant or its agent from participating in Visa programs
Your Merchant Bank is subject to fines, up to $500,000 per incident, if your site is attacked by hackers and not PCI-compliant at the time of the incident. These fines may be passed on directly to you! Plus - you could permanently lose the ability to accept credit card payments!
YourHost is sponsoring an easy-to-use PCI security compliance service from ScanAlert - the world's leading web site security certification company for the first year.
How do I become Compliant?
Below is the article that YourHost mailed out in Feb 2005
All merchants who accept credit cards online are now required to comply with the new Payment Card Industry standards.
This means that the banks and CC companies want to be certain that your Hosted server is Security Compliant. We feel that this is a reasonable request and YourHost.com has made an alliance to provide you with the Required and Compliant quarterly documents that will make your life easy.
YourHost.Com can help you make the process easy.
Painless Compliance link:https://www.mcafeesecure.com
You will be required to have your host comply to this new standard by June 30, 2005, or risk fines or lose the ability to accept credit cards.
Security requirements of Visa, MasterCard, American Express, Discover Card, Dinners Card and JCB Card have recently been combined into an industry-wide program called "The Payment Card Industry Security Standard " or " PCI standard " .
Source - Scan Alert legal
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