Trends in Merchant Payment Acceptance

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Trends in Merchant Payment Acceptance"

Transcription

1 Trends in Merchant Payment Acceptance December 6, 2007 Credit approval required. Merchant accounts are issued through BB&T Bankcard Corporation, a Georgia Corporation, Member FDIC BB&T. All rights reserved. 1

2 Today s Speaker: Martin Currin Martin Currin has over 17 years of experience at BB&T in payment processing as both a Merchant Sales Consultant and Merchant Services Sales Manager. He has been in his current role for almost 10 years. As Sales Manager, he leads the Merchant Services sales force, which develops customized solutions for BB&T business clients wanting to accept cards for payment. Merchant Services has over 47,000 merchant clients and will process over $8.5 billion in transaction volume in Martin is a graduate of Elon University, in Elon, N.C. Martin and his family reside in Wilson, N.C. 2

3 Current Trends in Electronic Payment Processing Payment Card Industry Data Security Standards Interchange Payment Methods Contactless payments Internet payments Equipment Hardware Virtual Terminal Payment Gateways 3

4 Audience Polling In my personal experience, 1. One or more of my personal credit or debit card accounts has had fraudulent transactions due to a merchant card data breach 2. One or more of my personal credit or debit card accounts has been reissued because of a merchant card data breach 3. I have not experienced fraud or card reissuance due to a merchant card data breach 4

5 Current Trends in Electronic Payment Processing Payment Card Industry Data Security Standard The Payment Card Industry Data Security Standard is a result of collaboration between Visa and MasterCard to create common industry security requirements. The program was designed to protect cardholder data - wherever it resides. All card association member institutions (including BB&T) must be compliant and are responsible for ensuring the compliance of their merchants and service providers. The program applies to all payment channels, including retail (brick-and-mortar), mail/telephone order, and e- commerce. To achieve compliance, all members, merchants, and service providers must adhere to the Payment Card Industry (PCI) Data Security Standard, which offers a single approach to safeguarding sensitive data. For additional information visit 5

6 Current Trends in Electronic Payment Processing Payment Card Industry Data Security Standard Merchants are required to: Build and maintain a secure network 1. Install and maintain a firewall configuration to protect data 2. Do not use vendor-supplied defaults for passwords and other security parameters Protect cardholder data 3. Protect stored cardholder data 4. Encrypt transmission of cardholder data and sensitive information across open public networks Maintain a vulnerability management program 5. Use and regularly update anti-virus software 6. Develop and maintain secure systems and applications Implement strong access control measures 7. Restrict access to data by business need-to-know 8. Assign a unique ID to each person with computer access 9. Restrict physical access to cardholder data Regularly monitor and test networks 10. Track and monitor all access to network resources and cardholder data 11. Regularly test security systems and processes Maintain an information security policy 12. Maintain a policy that addresses information security 6

7 Current Trends in Electronic Payment Processing Payment Card Industry Data Security Standard Who is required to comply and what are the compliance requirements? All merchants are required to be in compliance with the PCI Data Security Standard. Compliance requirements vary based on the following levels: Table provided by Visa and MasterCard *E-commerce also includes the use of any type of Internet Protocol (IP) (broadband, DSL, or Frame Relay connectivity). Even if you do not offer Web-based transactions, there are other services that make systems Internet accessible. Basic functions such as and employee Internet access will result in the Internet-accessibility of a company's network. These seemingly insignificant paths to and from the Internet can provide unprotected pathways into merchant and service provider systems if not properly controlled. 7

8 Current Trends in Electronic Payment Processing Payment Card Industry Data Security Standard TJX Corporation Announced data security breach in January 2007 Current information (11/5/2007) 94 million Visa and MasterCard cardholders' information exposed. 46 million affected customers. Visa estimates losses of $65 million to $83 million. Investigators confirmed that hackers used wireless equipment to invade TJX s unprotected database of payment information while driving by or parking near stores owned by the TJX company, including TJ Maxx and Marshall s. Visa recently fined TJX s merchant bank $880,000, which will likely be passed to TJX. MasterCard is yet to issue a fine. TJX claims to have spent $256 million on investigations, legal fees, and security enhancements. 8

9 Interchange Discount Rate Fee charged by the merchant bank to the merchant for services rendered in connection with processing card sales transactions Interchange Fee that the merchant bank must pay the card issuing bank to help offset the card issuer s cost of funds and processing costs including: statements, fraud losses, customer support. Primary component of the discount rate Set and governed by Visa and MasterCard, and are the same for all card-issuing and merchant acquiring institutions. Rates may change twice annually. Merchant acquirers generally quote a discount rate which is driven by how the merchant processes. It assumes that a number of processing requirements are met. If the requirements are not met, the transaction will qualify at another interchange level. This occurrence is referred to as a downgrade. 9

10 Interchange Minimizing Processing Costs Depending on your method of processing the following tips will assist you in qualifying at the best rate: Electronically authorize all transactions Swipe whenever possible Accept PIN-based debit Batch out daily Perform address verification service (AVS) for card not present transactions Make sure your business is in the correct merchant category code Capture Level II and Level III detail if you accept a significant number of commercial card transactions Ensure authorization and settlement amounts match For a more complete list by industry type, please visit the Merchant Services Reference Kit at 10

11 Interchange Case Study Using Address Verification Service / Invoice Consumer places telephone (non face-to-face) order for $100, pays by Visa. What are the merchant s fees for processing this transaction if the merchant: uses AVS / Invoice? Mail order telephone order transaction should qualify at CPS-card not present - credit. $100 x 2.25 = $2.25 does not use AVS / Invoice? Mail order telephone order transaction, no AVS / Invoice transaction will downgrade and qualify at Visa EIRF. $100 x non-qualified fee = $3.00 Non qualified fee - an additional fee charged by card brands to merchant acquirers when a transaction fails to meet set criteria. For this transaction, the merchant would save $.75 by utilizing AVS / Invoice. Assumptions: Discount rate 2.25% Non-qualified fee 75 basis points 11

12 Payment Methods Contactless Payments Contactless Payments are a payment feature that reduces check out time since the cardholder simply waves his/her payment card in front of a secure reader. If the transaction is under $25 a signature is not required. The cardholder retains control of the card during the transaction, which reduces the risk of fraud. If all criteria is met, transaction will qualify at card swiped rate. Uses radio frequency identification (RFID) technology MasterCard s PayPass, Visa s paywave, American Express ExpressPay, Discover s Contactless Benefits to the merchant include improved customer experience due to faster checkout process, increased customer loyalty by offering convenience at point of sale, reduced risk of fraud or employee misuse Great for high-volume, low-dollar merchants such as quick service restaurants, convenience stores, pharmacies Approximately 41,000 merchant locations accepting Contactless Payments including: McDonald s Arby s Walgreens CVS Pharmacy 12

13 Payment Methods Internet Payments Equipment Hardware Virtual Terminal Payment Gateways 13

14 Payment Methods Internet Payments How it works BB&T BB&T s Card Processor 14

15 Payment Methods Internet Payments Equipment Hardware Credit card terminals processing transactions via a high speed or broadband connection Ethernet enabled Reduces checkout time to 2-4 seconds via an always on connection Eliminates need for dedicated phone lines Great for multi-lane Offers dial backup Pay at the table Reduces fraud as card never leaves cardholder s hand Allows a restaurant merchant to accept PIN debit Wireless Allows merchants on the go to process card-present transactions 15

16 Payment Methods Internet Payments Equipment Hardware Case Study Dedicated phone lines no longer needed (3 years) 16

17 Payment Methods Internet Payments Virtual Terminal A virtual terminal allows you to process transactions without having to purchase a credit card terminal. Virtual terminals can be used by retail and mail/telephone order merchants in place of software or a credit card terminal. Turns any Internet-connected computer into a point-of-sale terminal. Virtual terminals are an easy-to-implement, easy-to-use, secure, and low-cost solution. Quick setup A browser-based, hosted solution is enabled by simply plugging in the swipe card reader to your computer no software is required. Risk Management Sensitive data is not stored on the merchant s computer but rather in a PCI-compliant data center. Secure The virtual terminal maintains a locked connection between card reader and browser, and alerts the merchant if there is an unauthorized attempt to connect to the reader. Fast checkout times Speed up checkout lines and improve customer satisfaction by authorizing credit card transactions in as little as three seconds. 17

18 Payment Methods Internet Payments Virtual Terminal Benefits to Businesses Convenience and flexibility Utilize any computer connected to the Internet to process a sale, perform administrative duties, and generate reports Peace of mind Simple to set up: Does not require integration or complex PC technical knowledge Multiple channels of support including phone, , and online chat offered 24x7 Secure payment processing No software to download or upkeep Increased revenue With improved operational efficiencies and faster authorization and checkout times Low startup costs No credit card terminal required 18

19 Payment Methods Internet Payments Virtual Terminal Client Profile Merchants who want to cards, but do not want to purchase credit card equipment. Examples: Startup businesses New acceptors Retailers that have a computer at their business and want to reduce items on their point-of-sale countertop Mail/telephone order merchants Mobile merchants Multi-lane Recurring billers Ideal for: Doctors offices Trade shows Health clubs Plumbers, service businesses Internet cafes Schools and universities Caterers 19

20 Payment Methods Internet Payments Payment Gateway A payment gateway allows a merchant to process online transactions from its website, turning the website into a point-of-sale terminal while giving increase the merchant s sales and providing the customer added convenience. Most gateways offer: Multiple integration methods depending on the merchant s web development resources. Compliance, as sensitive data is not stored on the merchant s computer but rather in a PCI-compliant data center. An online resource center that allows the merchant the ability to manage online transactions, create reports, and automatically settle securely. A dedicated integration team and support website readily available to assist with any merchant needs. Acceptance of: Credit and signature debit cards Visa, MasterCard, American Express, and Discover Electronic checks Allows customers to pay online with their checking or savings account Recurring billing files Allows customers to automatically be billed on a recurring basis 20

21 Payment Methods Internet Payments Payment Gateway Benefits to accepting payments online include: Increased sales Allow your customers to shop when they want to shop Attract customers out of your geographic market Customer convenience Give your customers the option to pay online An additional feature of most payment gateways is the ability to manually enter card information to process a transaction if a customer wants to initiate a phone order Ease of use Seamless integration from the merchant s website to the payment gateway Security Cardholder authentication programs help protect merchants from accepting fraudulent transactions Fraud detection allows the merchant to set filters for online transactions, such as minimum and maximum dollar amounts 21

22 Payment Methods Internet Payments Payment Gateway Risks to accepting payments online Phishing An attempt to criminally and fraudulently acquire sensitive information, such as user names, passwords, or credit card details, by masquerading as a trustworthy entity in an electronic communication. Protection Cardholder data is stored in a secured and compliant data center, never on your computer. The cardholder data entered in the transaction is submitted through a secure gateway with multiple firewalls and blockers. Identity Theft When the means of identification has been exploited for an unlawful purpose. Protection Payment Gateways include cardholder authentication services that will verify the address and card code submitted to the actual cardholder information through a national search. 22

23 Payment Methods Internet Payments Payment Gateway Client Profile Merchants who want the ability to take online payments and develop a web presence Retail merchants who also have a website Trade show merchants wanting to increase residual sales Merchants that process recurring transactions 23

24 Audience Polling My company 1. Has a website that accepts payments online 2. Has a website, but does not accept payments online 3. Does not have a website 24

25 Thank You for Participating Today! Contact Information Please call to be connected to a BB&T Merchant Sales Consultant in your area. Or visit our website at Evaluation Your feedback is very important to us! 25

FOR A BARRIER-FREE PAYMENT PROCESSING SOLUTION

FOR A BARRIER-FREE PAYMENT PROCESSING SOLUTION FOR A BARRIER-FREE PAYMENT PROCESSING SOLUTION MAKE THE SWITCH TO MONEXgroup ecommerce I Mobile I Wireless I Integrated I Countertop Solutions PAYMENTS IN-STORE PAYMENTS ON-THE-GO PAYMENTS ONLINE Accept

More information

FOR A BARRIER-FREE PAYMENT PROCESSING SOLUTION

FOR A BARRIER-FREE PAYMENT PROCESSING SOLUTION FOR A BARRIER-FREE PAYMENT PROCESSING SOLUTION MAKE THE SWITCH TO MONEXgroup ecommerce I Mobile I Wireless I Integrated I Countertop Solutions IN-STORE ON-THE-GO ONLINE Accept secure debit and credit card

More information

Your gateway to card acceptance.

Your gateway to card acceptance. MERCHANT SERVICES Authorize.Net Solutions Your gateway to card acceptance. Processing transactions reliably and securely is essential to your business. That s why BBVA Compass and Authorize.Net, a leading

More information

Merchant Payment Solutions

Merchant Payment Solutions Merchant Payment Solutions Credit Card Processing Diagram CUSTOMER S CREDIT CARD ISSUING BANK CUSTOMER 4 5 $ MERCHANT S BUSINESS MERCHANT S BANK ACCOUNT MERCHANT S BANK 9 CREDIT CARD NETWORK 8 INTERNET

More information

Merchant Payment Solutions

Merchant Payment Solutions Merchant Payment Solutions What We Do Connecting your Web site to the payment processing networks is typically beyond the technical resources of most merchants. Instead, you can easily connect to the Authorize.Net

More information

The Comprehensive, Yet Concise Guide to Credit Card Processing

The Comprehensive, Yet Concise Guide to Credit Card Processing The Comprehensive, Yet Concise Guide to Credit Card Processing Written by David Rodwell CreditCardProcessing.net Terms of Use This ebook was created to provide educational information regarding payment

More information

CREDIT CARD PROCESSING GLOSSARY OF TERMS

CREDIT CARD PROCESSING GLOSSARY OF TERMS CREDIT CARD PROCESSING GLOSSARY OF TERMS 3DES A highly secure encryption system that encrypts data 3 times, using 3 64-bit keys, for an overall encryption key length of 192 bits. Also called triple DES.

More information

Frequently Asked Questions

Frequently Asked Questions PCI Compliance Frequently Asked Questions Table of Content GENERAL INFORMATION... 2 PAYMENT CARD INDUSTRY DATA SECURITY STANDARD (PCI DSS)...2 Are all merchants and service providers required to comply

More information

Cost-management strategies. Your guide to accepting card payments cost-effectively

Cost-management strategies. Your guide to accepting card payments cost-effectively Cost-management strategies Your guide to accepting card payments cost-effectively Table of Contents Guidance from Wells Fargo Merchant Services...3 The secret to better interchange rates...4 Why interchange

More information

Introduction to Online Payment Processing and PayPal Payment Solutions

Introduction to Online Payment Processing and PayPal Payment Solutions Introduction to Online Payment Processing and PayPal Payment Solutions PayPal Helps Bring You New Customers Drivers of Consumer Demand for PayPal Opportunities for Merchants PayPal is: Secure Simple Fast

More information

a CyberSource solution Merchant Payment Solutions

a CyberSource solution Merchant Payment Solutions a CyberSource solution Merchant Payment Solutions 1 Simplifying Payments Safe and reliable payment processing is essential to your business. Authorize.Net, a leading payment gateway since 1996, provides

More information

Visa Account Information Security Tool Kit. Welcome to the Visa Account Information Security Program

Visa Account Information Security Tool Kit. Welcome to the Visa Account Information Security Program Visa Account Information Security Tool Kit Welcome to the Visa Account Information Security Program 2 Contents 1. Securing cardholder data is everyone s concern 4 2. Visa Account Information Security (AIS)

More information

Glossary ACH Acquirer Assessments: AVS Authorization Back End: Backbilling Basis Point Batch

Glossary ACH Acquirer Assessments: AVS Authorization Back End: Backbilling Basis Point Batch Glossary ACH: Automated Clearing House; an electronic payment network most commonly associated with payroll direct deposit, recurring payments, and is the network most commonly used to settle merchant

More information

EMV and Small Merchants:

EMV and Small Merchants: September 2014 EMV and Small Merchants: What you need to know Mike English Executive Director, Product Development Heartland Payment Systems 2014 Heartland Payment Systems, Inc. All trademarks, service

More information

CREDIT CARD MERCHANT POLICY. All campuses served by Louisiana State University (LSU) Office of Accounting Services

CREDIT CARD MERCHANT POLICY. All campuses served by Louisiana State University (LSU) Office of Accounting Services Louisiana State University Finance and Administrative Services Operating Procedure FASOP: AS-22 CREDIT CARD MERCHANT POLICY Scope: All campuses served by Louisiana State University (LSU) Office of Accounting

More information

How Online Payments Really Work

How Online Payments Really Work Insights for Businesses How Online Payments Really Work If you re thinking about setting up an online store, you re in good company. Shoppers are increasingly turning to online options, as their access

More information

Online Payment Processing What You Need to Know. PayPal Business Guide

Online Payment Processing What You Need to Know. PayPal Business Guide Online Payment Processing What You Need to Know PayPal Business Guide PayPal Business Guide Online Payment Processing 2006 PayPal, Inc. All rights reserved. PayPal, Payflow, and the PayPal logo are registered

More information

Credit Card Processing Overview

Credit Card Processing Overview CardControl 3.0 Credit Card Processing Overview Overview Credit card processing is a very complex and important system for anyone that sells goods. This guide will hopefully help educate and inform new

More information

FOR A BARRIER-FREE PAYMENT PROCESSING SOLUTION

FOR A BARRIER-FREE PAYMENT PROCESSING SOLUTION FOR A BARRIER-FREE PAYMENT PROCESSING SOLUTION MAKE THE SWITCH TO MONEXgroup ecommerce I Mobile I Wireless I Integrated I Countertop Solutions PAYMENTS IN-STORE PAYMENTS ON-THE-GO PAYMENTS ONLINE Accept

More information

a CyberSource solution Merchant Payment Solutions

a CyberSource solution Merchant Payment Solutions a CyberSource solution Merchant Payment Solutions 1 Simplifying Payments Safe and reliable payment processing is essential to your business. Authorize.Net, a leading payment gateway since 1996, provides

More information

Payment Methods. The cost of doing business. Michelle Powell - BASYS Processing, Inc.

Payment Methods. The cost of doing business. Michelle Powell - BASYS Processing, Inc. Payment Methods The cost of doing business Michelle Powell - BASYS Processing, Inc. You ve got to spend money, to make money Major Industry Topics Industry Process Flow PCI DSS Compliance Risks of Non-Compliance

More information

Payment Card Industry Data Security Standards

Payment Card Industry Data Security Standards Payment Card Industry Data Security Standards The payment card industry data security standard PCI DSS Visa and MasterCard have developed the Payment Card Industry Data Security Standard or PCI DSS as

More information

What is Interchange. How Complex is Interchange?

What is Interchange. How Complex is Interchange? What is Interchange The foundation of the entire Bankcard Processing industry s cost structure. Interchange is the wholesale price, charged by Card Issuing Bank, for Authorization and Settlement of a credit

More information

Increase revenue. Reduce operating costs. Improve efficiencies. Accomplish all this and more with eselectplus.

Increase revenue. Reduce operating costs. Improve efficiencies. Accomplish all this and more with eselectplus. Increase revenue. Reduce operating costs. Improve efficiencies. Accomplish all this and more with eselectplus. eselectplus makes payment simple for you, and for your customers. eselectplus is an easy-to-use,

More information

PCI Compliance and the Data Security Standards. A x i a. For more information visit www.axiapayments.com/pci. Your partner in payment services

PCI Compliance and the Data Security Standards. A x i a. For more information visit www.axiapayments.com/pci. Your partner in payment services PCI Compliance and the Data Security Standards Introduction The PCI DSS, a set of comprehensive requirements for enhancing payment account data security, was developed by the founding payment brands of

More information

Section 3.9 PCI DSS Information Security Policy Issued: June 2016 Replaces: January 2015

Section 3.9 PCI DSS Information Security Policy Issued: June 2016 Replaces: January 2015 Section 3.9 PCI DSS Information Security Policy Issued: June 2016 Replaces: January 2015 I. PURPOSE The purpose of this policy is to establish guidelines for processing charges on Payment Cards to protect

More information

SECTION: SUBJECT: PCI-DSS General Guidelines and Procedures

SECTION: SUBJECT: PCI-DSS General Guidelines and Procedures 1. Introduction 1.1. Purpose and Background 1.2. Central Coordinator Contact 1.3. Payment Card Industry Data Security Standards (PCI-DSS) High Level Overview 2. PCI-DSS Guidelines - Division of Responsibilities

More information

CardControl. Credit Card Processing 101. Overview. Contents

CardControl. Credit Card Processing 101. Overview. Contents CardControl Credit Card Processing 101 Overview Credit card processing is a very complex and important system for anyone that sells goods. This guide will hopefully help educate and inform new and old

More information

Your Compliance Classification Level and What it Means

Your Compliance Classification Level and What it Means General Information What are the Payment Card Industry (PCI) Data Security Standards? The PCI Data Security Standards represents a common set of industry tools and measurements to help ensure the safe

More information

Merchant Payment Solutions

Merchant Payment Solutions Merchant Payment Solutions 1 Simplifying Payments 2 Safe and reliable payment processing is essential to your business. Authorize.Net, a leading payment gateway since 1996, provides solutions you can trust.

More information

PCI DSS FAQ. The twelve requirements of the PCI DSS are defined as follows:

PCI DSS FAQ. The twelve requirements of the PCI DSS are defined as follows: What is PCI DSS? PCI DSS is an acronym for Payment Card Industry Data Security Standards. PCI DSS is a global initiative intent on securing credit and banking transactions by merchants & service providers

More information

Frequently Asked Questions

Frequently Asked Questions Contents CISP Program Overview... 2 1. To whom does CISP apply?...2 2. What does VISA define as "cardholder data"?...2 3. What if a merchant or service provider does not store Visa cardholder data?...2

More information

Card Acceptance Best Practices to Manage Rates and Minimize Risk

Card Acceptance Best Practices to Manage Rates and Minimize Risk Card Acceptance Best Practices to Manage Rates and Minimize Risk Kim Jackson VP, Transfund Merchant Services April 23, 2014 BOK Financial is registered with the National Association of State Boards of

More information

PayLeap Guide. One Stop

PayLeap Guide. One Stop PayLeap Guide One Stop PayLeap does it all. Take payments in person? Check. Payments over the phone or by mail? Check. Payments from mobile devices? Of course. Online payments? No problem. In addition

More information

La règlementation VisaCard, MasterCard PCI-DSS

La règlementation VisaCard, MasterCard PCI-DSS La règlementation VisaCard, MasterCard PCI-DSS Conférence CLUSIF "LES RSSI FACE À L ÉVOLUTION DE LA RÉGLEMENTATION" 7 novembre 07 Serge Saghroune Overview of PCI DSS Payment Card Industry Data Security

More information

RFP#15-20 EXHIBIT E MERCHANT SERVICES INFORMATION SHEET

RFP#15-20 EXHIBIT E MERCHANT SERVICES INFORMATION SHEET RFP#15-20 EXHIBIT E MERCHANT SERVICES INFORMATION SHEET A. Merchant Credit Card Processing 1. Describe your company s authorization method; list and describe alternative authorization methods. 2. What

More information

Online Payment Processing Definitions From Credit Research Foundation (http://www.crfonline.org/)

Online Payment Processing Definitions From Credit Research Foundation (http://www.crfonline.org/) Online Payment Processing Definitions From Credit Research Foundation (http://www.crfonline.org/) The following glossary represents definitions for commonly-used terms in online payment processing. Address

More information

Account Information Security. Merchant Guide

Account Information Security. Merchant Guide Account Information Security Merchant Guide At Visa, protecting our cardholders is at the core of everything we do. One of the many reasons people trust our brand is that we make buying and selling safer

More information

Merchant Card Processing Best Practices

Merchant Card Processing Best Practices Merchant Card Processing Best Practices Background: The major credit card companies (VISA, MasterCard, Discover, and American Express) have published a uniform set of data security standards that ALL merchants

More information

Payment Card Industry Data Security Standard PCI DSS

Payment Card Industry Data Security Standard PCI DSS Payment Card Industry Data Security Standard PCI DSS What is PCI DSS? Requirements developed by the five card brands: VISA, Mastercard, AMEX, JCB and Discover. Their aim was to put together a common set

More information

PCI DSS 101 FOR CTOs AND BUSINESS EXECUTIVES

PCI DSS 101 FOR CTOs AND BUSINESS EXECUTIVES PCI DSS 101 FOR CTOs AND BUSINESS EXECUTIVES CUTTING THROUGH THE COMPLEXITY AND CONFUSION Over the years, South African retailers have come under increased pressure to gain PCI DSS (Payment Card Industry

More information

Payment Cardholder Data Handling Procedures (required to accept any credit card payments)

Payment Cardholder Data Handling Procedures (required to accept any credit card payments) Payment Cardholder Data Handling Procedures (required to accept any credit card payments) Introduction: The Procedures that follow will allow the University to be in compliance with the Payment Card Industry

More information

Payment Card Industry (PCI) Data Security Standard Self-Assessment Questionnaire

Payment Card Industry (PCI) Data Security Standard Self-Assessment Questionnaire Payment Card Industry (PCI) Data Security Standard Self-Assessment Questionnaire Instructions and Guidelines Version 2.0 October 2010 Document Changes Date Version Description October 1, 2008 1.2 October

More information

Getting Set Up. Other Items Included: Terminal Key Overlay Card Visa

Getting Set Up. Other Items Included: Terminal Key Overlay Card Visa Getting Set Up Setting up your new bankcard processing terminal with Merchant Services is easy. Your deployment kit contains instructions to help your installation process run smoothly before, during and

More information

Security Best Practices

Security Best Practices White Paper Security Best Practices Maintaining tight security, including using both standard and advanced fraud detection and prevention tools, is crucial to maintaining a successful business. No merchant

More information

University of Dayton Credit / Debit Card Acceptance Policy September 1, 2009

University of Dayton Credit / Debit Card Acceptance Policy September 1, 2009 University of Dayton Credit / Debit Card Acceptance Policy September 1, 2009 Effective Date of this Policy: August 1, 2008 Last Revision: September 1, 2009 Contact for More Information: UDit Internal Auditor

More information

Key Steps to Meeting PCI DSS 2.0 Requirements Using Sensitive Data Discovery and Masking

Key Steps to Meeting PCI DSS 2.0 Requirements Using Sensitive Data Discovery and Masking Key Steps to Meeting PCI DSS 2.0 Requirements Using Sensitive Data Discovery and Masking SUMMARY The Payment Card Industry Data Security Standard (PCI DSS) defines 12 high-level security requirements directed

More information

Policies and Procedures. Merchant Card Services Office of Treasury Operations

Policies and Procedures. Merchant Card Services Office of Treasury Operations Policies and Procedures Merchant Card Services Office of Treasury Operations 1 Welcome! Table of Contents: Introduction Establishing Payment Card Services Payment Card Acceptance Procedures Payment Card

More information

PCI PA - DSS. Point XSA Implementation Guide. Atos Worldline Banksys XENTA SA. Version 1.00

PCI PA - DSS. Point XSA Implementation Guide. Atos Worldline Banksys XENTA SA. Version 1.00 PCI PA - DSS Point XSA Implementation Guide Atos Worldline Banksys XENTA SA Version 1.00 POINT TRANSACTION SYSTEMS AB Box 92031, 120 06 Stockholm, Tel. +46 8 566 287 00 www.point.se Page number 2 (16)

More information

Payment Card Acceptance Administrative Policy

Payment Card Acceptance Administrative Policy Administrative Procedure Approved By: Brandon Gilliland, Associate Vice President for Finance & Controller Effective Date: October 1, 2014 History: Approval Date: September 25, 2014 Revisions: Type: Administrative

More information

Newtek, The Small Business Authority 855-2thesba www.thesba.com. thesba.com 855-2thesba

Newtek, The Small Business Authority 855-2thesba www.thesba.com. thesba.com 855-2thesba thesba.com 855-2thesba EMV Chip Technology, Secure Electronic Payments The world of payments is evolving. We are starting to see an evolution from typical static magnetic strip cards to more intelligent

More information

E-Commerce SOLUTIONS. Generate Online Revenue with E-Commerce Solutions. www.monexgroup.com

E-Commerce SOLUTIONS. Generate Online Revenue with E-Commerce Solutions. www.monexgroup.com E-Commerce SOLUTIONS In this report, MONEXgroup examines various types of online payment processing and E-Commerce Solutions. The tremendous transition towards online shopping stores in Canada has opened

More information

EMV and Restaurants: What you need to know. Mike English. October 2014. Executive Director, Product Development Heartland Payment Systems

EMV and Restaurants: What you need to know. Mike English. October 2014. Executive Director, Product Development Heartland Payment Systems October 2014 EMV and Restaurants: What you need to know Mike English Executive Director, Product Development Heartland Payment Systems 2014 Heartland Payment Systems, Inc. All trademarks, service marks

More information

CREDIT CARD PROCESSING POLICY AND PROCEDURES

CREDIT CARD PROCESSING POLICY AND PROCEDURES CREDIT CARD PROCESSING POLICY AND PROCEDURES Note: For purposes of this document, debit cards are treated the same as credit cards. Any reference to credit cards includes credit and debit card transactions.

More information

How Do I Understand Credit Card Processing Fees?

How Do I Understand Credit Card Processing Fees? How Do I Understand Credit Card Processing Fees? Credit card processing rates and fees are often misunderstood and confusing, so we are committed to helping you understand the various costs associated

More information

Card payment processing for your business

Card payment processing for your business Card payment processing for your business Easy, reliable and secure solutions Easy We make things simple for you and your customers. Reliable We re always there for your business when you need us. Secure

More information

This policy applies to all GPC units that process, transmit, or handle cardholder information in a physical or electronic format.

This policy applies to all GPC units that process, transmit, or handle cardholder information in a physical or electronic format. Policy Number: 339 Policy Title: Credit Card Processing Policy, Procedure, & Standards Review Date: 07-23-15 Approval Date: 07-27-15 POLICY: All individuals involved in handling credit and debit card transactions

More information

Card payment processing for your business

Card payment processing for your business Card payment processing for your business Easy, reliable and secure solutions Easy We make things simple for you and your customers. Reliable We re always there for your business when you need us. Secure

More information

Information Technology

Information Technology Credit Card Handling Security Standards Overview Information Technology This document is intended to provide guidance to merchants (colleges, departments, organizations or individuals) regarding the processing

More information

Table of Contents. Overview. What is payment processing? Who s Who. Types of Payment Solutions. Online Transactions. Interchange Process

Table of Contents. Overview. What is payment processing? Who s Who. Types of Payment Solutions. Online Transactions. Interchange Process Overview Credit Card Processing 101 is your go-to handbook for navigating the payments industry. This document provides a quick and thorough understanding on how businesses accept electronic payments,

More information

Table of Contents. 2 TouchSuite Welcome Kit

Table of Contents. 2 TouchSuite Welcome Kit Welcome Kit Table of Contents Important Account Information... Welcome to TouchSuite Merchant Services... Help Desk Card Enclosed... Your Merchant ID (MID)... 3 3 3 3 Customer Support Numbers... 4 Card

More information

TREASURER S OFFICE ADMINISTRATIVE STANDARDS FOR THE TREASURER S FISCAL PROCEDURE No. 08-01 MERCHANT DEBIT AND CREDIT CARD RECEIPTS

TREASURER S OFFICE ADMINISTRATIVE STANDARDS FOR THE TREASURER S FISCAL PROCEDURE No. 08-01 MERCHANT DEBIT AND CREDIT CARD RECEIPTS TREASURER S OFFICE ADMINISTRATIVE STANDARDS FOR THE TREASURER S FISCAL PROCEDURE No. 08-01 MERCHANT DEBIT AND CREDIT CARD RECEIPTS 1. Introduction Debit and Credit Card Receipt Standards apply to the administration

More information

Contents Error! Bookmark not defined.

Contents Error! Bookmark not defined. PayFox User Guide Contents Table of Contents... Error! Bookmark not defined. Product Overview... 3 Peripheral Devices... 3 Product Features and Functionality... 4 Account Activation Programming Enablement...

More information

PAYMENT CARD INDUSTRY (PCI) SECURITY STANDARDS COUNCIL

PAYMENT CARD INDUSTRY (PCI) SECURITY STANDARDS COUNCIL PAYMENT CARD INDUSTRY (PCI) SECURITY STANDARDS COUNCIL Session 1 Payment Card Industry (PCI) Security Standards Slide 1 Top 3 Largest Security Incidents Reported Worldwide = CREDIT CARDS Related *Source:

More information

Whitepaper. PCI Compliance: Protect Your Business from Data Breach

Whitepaper. PCI Compliance: Protect Your Business from Data Breach Merchants often underestimate the financial impact of a breach. Direct costs include mandatory forensic audits, credit card replacement, fees, fines and breach remediation. PCI Compliance: Protect Your

More information

Payment Card Industry Data Security Standard Training. Chris Harper Vice President of Technical Services Secure Enterprise Computing, Inc.

Payment Card Industry Data Security Standard Training. Chris Harper Vice President of Technical Services Secure Enterprise Computing, Inc. Payment Card Industry Data Security Standard Training Chris Harper Vice President of Technical Services Secure Enterprise Computing, Inc. March 27, 2012 Agenda Check-In 9:00-9:30 PCI Intro and History

More information

PCI General Policy. Effective Date: August 2008. Approval: December 17, 2015. Maintenance of Policy: Office of Student Accounts REFERENCE DOCUMENTS:

PCI General Policy. Effective Date: August 2008. Approval: December 17, 2015. Maintenance of Policy: Office of Student Accounts REFERENCE DOCUMENTS: Effective Date: August 2008 Approval: December 17, 2015 PCI General Policy Maintenance of Policy: Office of Student Accounts PURPOSE: To protect against the exposure and possible theft of account and personal

More information

UNL PAYMENT CARD POLICY AND PROCEDURES. Table of Contents

UNL PAYMENT CARD POLICY AND PROCEDURES. Table of Contents UNL PAYMENT CARD POLICY AND PROCEDURES Table of Contents Payment Card Merchant Security Standards Policy and Procedures... 2 Introduction... 4 Payment Card Industry Data Security Standard... 4 Definitions...

More information

ACCEPTING PAYMENT CARDS FOR CONDUCTING UNIVERSITY BUSINESS:

ACCEPTING PAYMENT CARDS FOR CONDUCTING UNIVERSITY BUSINESS: Boston College Policy ACCEPTING PAYMENT CARDS FOR CONDUCTING UNIVERSITY BUSINESS: PURPOSE OF POLICY: The purpose of this policy is to establish procedures for accepting payment cards at Boston College

More information

WHITEPAPER. Achieving Network Payment Card Industry Data Security Standard (PCI DSS) Compliance with NetMRI

WHITEPAPER. Achieving Network Payment Card Industry Data Security Standard (PCI DSS) Compliance with NetMRI WHITEPAPER Achieving Network Payment Card Industry Data Security Standard (PCI DSS) Compliance with NetMRI About PCI DSS Compliance The widespread use of debit and credit cards in retail transactions demands

More information

Plotting a Course for EMV Compliance

Plotting a Course for EMV Compliance Plotting a Course for EMV Compliance Plotting a Course for EMV Compliance PCI compliance...emv compliance by now, you ve heard repeatedly that your store or restaurant must be EMV-compliant by the recently

More information

PCI Compliance. Top 10 Questions & Answers

PCI Compliance. Top 10 Questions & Answers PCI Compliance Top 10 Questions & Answers 1. What is PCI Compliance and PCI DSS? 2. Who needs to follow the PCI Data Security Standard? 3. What happens if I don t comply? 4. What are the basic requirements

More information

Whitepaper. PCI Compliance: Protect Your Business from Data Breach

Whitepaper. PCI Compliance: Protect Your Business from Data Breach Merchants often underestimate the financial impact of a breach. Direct costs include mandatory forensic audits, credit card replacement, fees, fines and breach remediation. PCI Compliance: Protect Your

More information

Simplêfy Client Support and Information Services. PCI Compliance Guidebook

Simplêfy Client Support and Information Services. PCI Compliance Guidebook Simplêfy Client Support and Information Services PCI Compliance Guidebook Simplêfy, Inc. 301 Science Drive, Suite 280 Moorpark, CA 93021 Phone 888.341.2999 Fax 877.280.0885 Simplêfy is a Registered Trademark

More information

How NETGEAR ProSecure UTM Helps Small Businesses Meet PCI Requirements

How NETGEAR ProSecure UTM Helps Small Businesses Meet PCI Requirements How NETGEAR ProSecure UTM Helps Small Businesses Meet PCI Requirements I n t r o d u c t i o n The Payment Card Industry Data Security Standard (PCI DSS) was developed in 2004 by the PCI Security Standards

More information

CRM4M Accounting Set Up and Miscellaneous Accounting Guide Rev. 10/17/2008 rb

CRM4M Accounting Set Up and Miscellaneous Accounting Guide Rev. 10/17/2008 rb CRM4M Accounting Set Up and Miscellaneous Accounting Guide Rev. 10/17/2008 rb Topic Page Chart of Accounts 3 Creating a Batch Manually 8 Closing a Batch Manually 11 Cancellation Fees 17 Check Refunds 19

More information

We believe First Data is well positioned to take advantage of all of these trends given the breadth of our solutions and our global operating

We believe First Data is well positioned to take advantage of all of these trends given the breadth of our solutions and our global operating Given recent payment data breaches, clients are increasingly demanding robust security and fraud solutions; and Financial institutions continue to outsource and leverage technology providers given their

More information

The 12 Essentials of PCI Compliance How it Differs from HIPPA Compliance Understand & Implement Effective PCI Data Security Standard Compliance

The 12 Essentials of PCI Compliance How it Differs from HIPPA Compliance Understand & Implement Effective PCI Data Security Standard Compliance Date: 07/19/2011 The 12 Essentials of PCI Compliance How it Differs from HIPPA Compliance Understand & Implement Effective PCI Data Security Standard Compliance PCI and HIPAA Compliance Defined Understand

More information

Compliance Management

Compliance Management Compliance Management Merchant Guide 2012 Stay Clear Of Fraud Are You Concerned About Data Security Risks? Security is a duty. Companies should remember that they are being trusted by consumers with their

More information

Beef O Brady's. Security Review. Powered by

Beef O Brady's. Security Review. Powered by Beef O Brady's Security Review Powered by Why install a Business Class Firewall? Allows proper segmentation of Trusted and Untrusted computer networks (PCI Requirement) Restrict inbound and outbound traffic

More information

Payment Card Industry (PCI) Data Security Standard. Attestation of Compliance for Self-Assessment Questionnaire C-VT. Version 2.0

Payment Card Industry (PCI) Data Security Standard. Attestation of Compliance for Self-Assessment Questionnaire C-VT. Version 2.0 Payment Card Industry (PCI) Data Security Standard Attestation of Compliance for Self-Assessment Questionnaire C-VT Version 2.0 October 2010 Attestation of Compliance, SAQ C-VT Instructions for Submission

More information

Failure to follow the following procedures may subject the state to significant losses, including:

Failure to follow the following procedures may subject the state to significant losses, including: SUBJECT: Policy and Procedures PAGE: 1 of 5 INTRODUCTION During fiscal year 2014, State of Wisconsin agencies accepted approximately 6 million credit/debit card payments through the following payment channels:

More information

CREDIT CARD MERCHANT PROCEDURES MANUAL. Effective Date: 5/25/2011

CREDIT CARD MERCHANT PROCEDURES MANUAL. Effective Date: 5/25/2011 CREDIT CARD MERCHANT PROCEDURES MANUAL Effective Date: 5/25/2011 Updated: May 25, 2011 TABLE OF CONTENTS Introduction... 1 Third-Party Vendors... 1 Merchant Account Set-up... 2 Personnel Requirements...

More information

Payment Card Industry (PCI) Data Security Standard Self-Assessment Questionnaire

Payment Card Industry (PCI) Data Security Standard Self-Assessment Questionnaire Payment Card Industry (PCI) Data Security Standard Self-Assessment Questionnaire Instructions and Guidelines Version 3.2 May 2016 Document Changes Date Version Description October 1, 2008 1.2 October 28,

More information

PAYMENT CARD INDUSTRY (PCI) COMPLIANCE HISTORY & OVERVIEW

PAYMENT CARD INDUSTRY (PCI) COMPLIANCE HISTORY & OVERVIEW PAYMENT CARD INDUSTRY (PCI) COMPLIANCE HISTORY & OVERVIEW David Kittle Chief Information Officer Chris Ditmarsch Network & Security Administrator Smoker Friendly International / The Cigarette Store Corp

More information

How Multi-Pay Tokens Can Reduce Security Risks and the PCI Compliance Burden for ecommerce Merchants

How Multi-Pay Tokens Can Reduce Security Risks and the PCI Compliance Burden for ecommerce Merchants How Multi-Pay Tokens Can Reduce Security Risks and the PCI Compliance Burden for ecommerce Merchants 2012 First Data Corporation. All trademarks, service marks and trade names referenced in this material

More information

University Policy Accepting Credit Cards to Conduct University Business

University Policy Accepting Credit Cards to Conduct University Business BROWN UNIVERSITY University Policy Accepting Credit Cards to Conduct University Business Purpose Brown University requires all departments that are involved with credit card handling to do so in compliance

More information

PCI DSS COMPLIANCE DATA

PCI DSS COMPLIANCE DATA PCI DSS COMPLIANCE DATA AND PROTECTION EagleHeaps FROM CONTENTS Overview... 2 The Basics of PCI DSS... 2 PCI DSS Compliance... 4 The Solution Provider Role (and Accountability).... 4 Concerns and Opportunities

More information

Tokenization Amplified XiIntercept. The ultimate PCI DSS cost & scope reduction mechanism

Tokenization Amplified XiIntercept. The ultimate PCI DSS cost & scope reduction mechanism Tokenization Amplified XiIntercept The ultimate PCI DSS cost & scope reduction mechanism Paymetric White Paper Tokenization Amplified XiIntercept 2 Table of Contents Executive Summary 3 PCI DSS 3 The PCI

More information

Fall Conference November 19 21, 2013 Merchant Card Processing Overview

Fall Conference November 19 21, 2013 Merchant Card Processing Overview Fall Conference November 19 21, 2013 Merchant Card Processing Overview Agenda Industry Definition Process Flows Processing Costs Chargeback's Payment Card Industry (PCI) Guidelines for Convenience Fees

More information

PCI Compliance Top 10 Questions and Answers

PCI Compliance Top 10 Questions and Answers Where every interaction matters. PCI Compliance Top 10 Questions and Answers White Paper October 2013 By: Peer 1 Hosting Product Team www.peer1.com Contents What is PCI Compliance and PCI DSS? 3 Who needs

More information

Accepting Payment Cards and ecommerce Payments

Accepting Payment Cards and ecommerce Payments Policy V. 4.1.1 Responsible Official: Vice President for Finance and Treasurer Effective Date: September 29, 2010 Accepting Payment Cards and ecommerce Payments Policy Statement The University of Vermont

More information

COLUMBUS STATE COMMUNITY COLLEGE POLICY AND PROCEDURES MANUAL

COLUMBUS STATE COMMUNITY COLLEGE POLICY AND PROCEDURES MANUAL PAYMENT CARD INDUSTRY COMPLIANCE (PCI) Effective June 1, 2011 Page 1 of 6 (1) Definitions a. Payment Card Industry Data Security Standards (PCI-DSS): A set of standards established by the Payment Card

More information

Payment Card Industry Data Security Standard (PCI DSS) Q & A November 6, 2008

Payment Card Industry Data Security Standard (PCI DSS) Q & A November 6, 2008 Payment Card Industry Data Security Standard (PCI DSS) Q & A November 6, 2008 What is the PCI DSS? And what do the acronyms CISP, SDP, DSOP and DISC stand for? The PCI DSS is a set of comprehensive requirements

More information

PCI DSS Payment Card Industry Data Security Standard. Merchant compliance guidelines for level 4 merchants

PCI DSS Payment Card Industry Data Security Standard. Merchant compliance guidelines for level 4 merchants Appendix 2 PCI DSS Payment Card Industry Data Security Standard Merchant compliance guidelines for level 4 merchants CONTENTS 1. What is PCI DSS? 2. Why become compliant? 3. What are the requirements?

More information

Fraud Protection, You and Your Bank

Fraud Protection, You and Your Bank Fraud Protection, You and Your Bank Maximize your chances to minimize your losses Presentation for Missouri GFOA April 2011 By: Terry Endres, VP, Government Treasury Solutions Phone: 314-466-6774 Terry.m.endres@baml.com

More information

6-8065 Payment Card Industry Compliance

6-8065 Payment Card Industry Compliance 0 0 0 Yosemite Community College District Policies and Administrative Procedures No. -0 Policy -0 Payment Card Industry Compliance Yosemite Community College District will comply with the Payment Card

More information

PCI DSS. CollectorSolutions, Incorporated

PCI DSS. CollectorSolutions, Incorporated PCI DSS Robert Cothran President CollectorSolutions www.collectorsolutions.com CollectorSolutions, Incorporated Founded as Florida C corporation in 1999 Approximately 235 clients in 35 states Targeted

More information

PLACE GROUP UK LONDON STUDENT HOUSING GROUP PAYMENT CARD INDUSTRY DATA SECURITY STANDARD COMPLIANCE STATEMENT PCI DSS (09) VERSION: 2009PCIDSSP4S01

PLACE GROUP UK LONDON STUDENT HOUSING GROUP PAYMENT CARD INDUSTRY DATA SECURITY STANDARD COMPLIANCE STATEMENT PCI DSS (09) VERSION: 2009PCIDSSP4S01 PLACE GROUP UK LONDON STUDENT HOUSING GROUP PAYMENT CARD INDUSTRY DATA SECURITY STANDARD COMPLIANCE STATEMENT PCI DSS (09) VERSION: 2009PCIDSSP4S01 Information updated: 21 October 2012 SAFEGUARDING CARDHOLDER

More information