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Credit Cards and PCI 3.0 Compliance

February 11, 2018 by Mike Gallogly

Posted by Mike on March 27th, 2015

For many years we have been running our business accepting only cash or checks for our services.  A couple of months ago we decided (once again) to begin accepting credit card payments for our clients and walk-in customers.

This decision was hard to make because we had avoided payment fees operating the way we did. But… since I use my personal cards for nearly everything and carry very little cash, I figured our clients may feel the same. My first attempt at credit card processing was when I first started the business. I signed with my local bank’s merchant account (mistake). The fees were killing me and I could not wait for the contract to run out.

So, we had to research payment processors and brush up on PCI (Payment Card Industry) standards and compliance. There are a lot of changes on the near horizon for any company that accepts credit cards. In a nutshell, the card companies are growing tired of absorbing the cost of stolen, hacked, and mis-used cards and they are going to start holding the merchants financially responsible if they have not beefed up their security. You don’t have to look hard to find examples like Target, Home Depot, Michael’s and a slew of other security breaches.

You may have heard about the new EMV (Europay Mastercard and Visa) or “Chip” embedded cards and may already have one. Estimates are that over 120 million of us have already have them. Just look for a little micro chip on your card. For those who accept credit cards, this may mean adding new in-store technology and internal systems along with complying to new liability regulations.  For consumers it will mean activating new cards.

The first generation of these cards will still have the mag stripe on them for legacy systems. Other payment methods include ApplePay, however this may take some time since it only works with an iPhone 6.  Look for other payment types fighting for market share as the whole industry gets a shake-up in the coming year or two.

As a business owner, you will need to review your PCI compliance and make sure you are certified for the PCI 3.0 standards. As we went through the new standards I was astonished at the level of complexity they are asking for.  Personally, I don’t see how PCI expects everyone to be fully compliant any time soon. It is coming at us like a freight train and and business owners need to become aware. One thing you can be sure of is the credit card companies will start shifting responsibility for data security directly on the merchant. If your systems are compromised and you have not documented your PCI compliance and policies it can and will be costly.

Now, understand that PCI compliance is not a mandate from the Feds. PCI standards come from the credit card companies themselves. Believe me, they have the lawyers and cash to protect their interests.


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    Randolph County Housing Authority
  • we have not had any down time, which prior to MiTec services had NEVER happened before. Since we have had fewer problems than we did in the past, we have saved a great deal of money on technical support. We have been extremely pleased with MiTec Computer Solutions and will be using them for a... Read More
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    Skinner Insurance Agency
  • If you need trustworthy, extremely knowledgable, friendly, and very cost effective support for your computer network, or just computers contact MiTec. Read More
    Barb Fowler
  • "When MiTec came in... The speed has been incredible, no slow downs, no drags. You can call whenever you need to call and they are quick to respond." Read More
    Bobby Benavides, FUMC of Elkins
  • They are looking out for us and protecting our information so I don't have to worry about that myself. Read More
    Lydia Johnson-Grady, Director
    Randolph-Tucker Children's Advocacy Center

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MiTec Computer Solutions, Inc.

304-614-0186
40 Skinner Lane
Elkins, WV 26241

Testimonials

  • As a governmental agency, security is a top priority. MiTec has earned our trust to remote in and do repairs. MiTec always takes time to answer our questions without making us feel like a non-tech person. Read More
    Linda Koch Procurement Manager
    Randolph County Housing Authority
  • we have not had any down time, which prior to MiTec services had NEVER happened before. Since we have had fewer problems than we did in the past, we have saved a great deal of money on technical support. We have been extremely pleased with MiTec Computer Solutions and will be using them for a... Read More
    Crystal Conti Office Manager
    Skinner Insurance Agency
  • If you need trustworthy, extremely knowledgable, friendly, and very cost effective support for your computer network, or just computers contact MiTec. Read More
    Barb Fowler
  • "When MiTec came in... The speed has been incredible, no slow downs, no drags. You can call whenever you need to call and they are quick to respond." Read More
    Bobby Benavides, FUMC of Elkins
  • They are looking out for us and protecting our information so I don't have to worry about that myself. Read More
    Lydia Johnson-Grady, Director
    Randolph-Tucker Children's Advocacy Center

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