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How to Become a PayFac: A Roadmap for Software Developers

Exact Payments

Complying with PCI standards involves many steps, such as establishing a secure network, encrypting data, developing an information security policy, and undergoing an on-site audit. Typically, becoming PCI certified takes several months and no less than $50,000.

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Bridging Banking Gaps For Cannabis Companies

PYMNTS

At the end of the day you still end up with a record-keeping system that can’t pass audit for tax and regulatory purposes,” he said. Data is encrypted both in transit (coming into databases from a POS) and at rest (in data centers), he said. The government benefits, too.