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The PCIDSS Checklist is a crucial first step in securing your business. It’s a tool that helps businesses ensure they’re meeting all the requirements of the Payment Card Industry Data Security Standard (PCIDSS). To get started on your journey towards PCIDSS compliance, we recommend visiting the PCIDSS v4.0
It offers benefits, such as passing interchange fees to users, boosting profit margins, and encouraging alternative payment methods. PCIDSS compliance, a global framework, mandates specific requirements and best practices for maintaining credit card data security. Enter the PCIDSS compliance.
As such, services integrated into mobile phones, tablets, computers, Internet of Things (IoT)-connected devices and more may mean a more convenient service for end-users, but as Cohen noted, this monumentally increases the “attack surface” upon which cyberattackers can infiltrate and compromise. A Regulatory Minefield.
With connections to over 150 issuers, fintechs, and 12 processors globally, alongside integration capabilities with major payment schemes, Mea Card Gateway empowers organisations of all sizes, providing value-added services that have been previously hindered by PCIDSS compliance constraints.
Compliance with industry regulations , such as GDPR for data protection or PCIDSS for payment security. Monitor performance and optimize continuously After deployment, businesses should track key performance metrics, such as: User adoption rates and satisfaction levels. Impact on efficiency and revenue growth.
ISVs, or Independent Software Vendors, are businesses that develop and distribute software products to end-users. ISV software products are tailored to meet the specific needs of industries and users. Customer Support In-house support teams maintain direct relationships with end-users for assistance.
Improve the end-user experience? This typically includes a payment gateway, end-user interfaces, merchant management platforms, and merchant dashboards. As the last step in the PayFac journey, this one never truly ends. Consider asking yourself the following questions: What are my key business drivers?
Learn More Mitigating Risks as a PayFac: Key Risk Categories As you may already know, as a payment facilitator, you can enable your software users (or sub-merchants ) to accept payments through your SaaS platform—without having to use a third-party payment gateway or provider. Most PayFacs have technology in place to prevent these breaches.
Merchants, especially smaller or micro-merchants, don’t want the hassle of hardware that’s time-consuming to install, expensive to maintain, and difficult to upgrade every time a new payment method or industry standard emerges, like PCIDSS. This is where modular technology enables fast integration and distribution of new services.
“Unless the existing merchant services company is integrated into that software provider’s ecosystem and is providing unique value to the software company and the enduser, they won’t exist in 10 years.”. But Aberman emphasized that this is far from a doomed situation for banks and financial services players.
It also removes burdensome PCIDSS compliance from the process by automating manual processes. Buyers can automatically ‘push’ payments to suppliers, increasing security and control, speeding up payments and significantly improving supplier relationships that are crucial to better business.
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