Credit Card Processing Summer Lunch & Learn 2016

Size: px
Start display at page:

Download "Credit Card Processing Summer Lunch & Learn 2016"

Transcription

1 AGENDA 1. The Different Ways to Process Cards 2. EMV Chip Cards What You Need to Know 3. Understanding the Industry s Complex Pricing Structure 4. American Express The New Rate/Deposit Plan.Good News! 5. PCI Security How to be Compliant to Protect Your Business As a Certified Payment Professional: I help businesses lower their costs and provide efficient processing solutions 13 years experience Assisted over 1,000+ businesses Work with Retail, Manufacturing, MOTO (keyed in sales), Internet, Restaurant, Schools and more Who You Gonna Call? Who s Calling You? 1. A Bank rep 2. Telemarketers 3. A salesperson I was in the neighborhood 4. Certified Payment Professional! Brad Arnott, Certified Payment Professional Omega Processing Solutions LLC PH: brad@certifiedpaypro.com Ways to Process Credit Cards Do the Chip Card Dance!! Stand a lone Terminal Virtual Terminal Integrated With Software: Sage Microsoft Dynamics Another ERP, CRM Solution or POS Solution VeriFone Vx520 - EMV Non EMV VeriFone Ingenico EMV Add a Card Swiper to the Virtual Terminal Mobile and Wireless Solutions CHIP CARD FACTS*: 3.4 billion chip payment cards are in use worldwide as of Dec billion: the # of payment cards in the US 12 million: the # of POS terminals in the US 37%: % of merchant locations that can process chip cards today 25%: Percentage of US. debit cards issued as EMV cards by end of %: Percentage of consumers with a chip card as of March 31, CHIP CARDS For more info go to or Why are chip card transactions more secure? Chip card transactions offer you advanced security for in store payments by making every transaction unique. And, your chip card is more difficult to counterfeit or copy. If the card data and the one time code (cryptogram) are stolen, the information cannot be used to create counterfeit cards and commit fraud. Liability Shift Starts October 1, 2015 Merchants that accept chip cards will be protected from fraud losses resulting from in store counterfeit. The liability will shift from issuers to merchants if their payment terminals are not chip enabled for in store transactions. *Source: creditcards.com 1

2 The Players in Processing Processors and Partners Networks Card Associations These are organizations such as Visa, MasterCard, American Express and Discover. Acquiring Bank The Acquiring Bank is the financial institution that is responsible for the merchant account either directly or indirectly. Issuing Bank This is the financial institution that physically provides a credit card to an individual for use. Processors: Processors provide a point of connectivity for the Merchant to authorize and settle credit card transactions Merchant Services Provider (MSP) Typically, the Member Service Provider/Independent Sales Office either handles just sales or possibly sales, service, risk, underwriting, etc. Payment Gateways: Payment gateways connect the Merchant to the processor that is acting as the front-end connection to the Card Associations. Processors Resellers Banks Bank Reps ISOs Sub ISOs Agents..and Telemarketers!!! Merchants It s Complicated. Components of the Price Issuing Bank (issue cards) Where do all the fees collected go? Card Brands Components of Cost Interchange: Interchange accounts for the largest portion of credit card processing expense and it's paid to card issuing banks. Dues and Assessments: Visa, MasterCard and Discover and Amex make money by charging assessments on every transaction (and some misc. network fees) Transaction Fees / Monthly Account Fees: Processor Acquirer/Sales Organization The sales organization provides the actual rates you will pay and you pay them each month. Transaction Fees are charged to cover the cost of Authorizations and Declines. These costs vary based on the negotiated rate with the processor Monthly Account Fees are charged to cover the general cost of maintaining a merchant account and generating monthly reports, support services, etc. 2

3 Interchange Rates: The Wholesale Cost of a Card Transaction Rates are determined by: (credit, debit, rewards, corp, etc), (swipe vs. keyed), Average Cost of Interchange: Notice the Difference by Industry MCC Code MCC Description Credit Debit All Card Types Total Credit Total Total Debit Total Avg Interchange Avg Tkt 5812 Restaurants 2.20% 46.33% 1.31% 53.67% 1.72% $ Bar 2.05% 28.49% 1.42% 71.51% 1.60% $ Fast Food 2.08% 28.74% 2.10% 71.26% 2.10% $ Misc Retail 1.90% 24.91% 1.47% 75.09% 1.58% $ Barber & Beauty Shops 1.91% 35.61% 1.02% 64.39% 1.33% $ Chiropractors 1.89% 42.25% 1.11% 57.75% 1.44% $ Doctors / Physicians 2.09% 47.05% 1.22% 52.95% 1.63% $ Hardware Stores 2.22% 70.27% 1.08% 29.73% 1.88% $ Lawn & Garden Supply 1.95% 59.75% 0.86% 40.25% 1.51% $ Lodging Hotels/Motels/Resorts 2.34% 73.21% 0.90% 26.79% 1.96% $ Lumber & Building Materials 2.28% 77.35% 0.74% 22.65% 1.93% $ AC/Heating, Plumbing 2.13% 87.90% 0.86% 12.10% 1.97% $ Veterinary Services 1.89% 56.90% 0.73% 43.10% 1.39% $ Auto Dealer Sales,Service,Repairs, Parts & Leasing 2.09% 64.46% 0.64% 35.54% 1.58% $ Must Still Add: Assessments + Monthly/Transaction Fees + Profit Pricing Methods Interchange Plus / Pass Through: Interchange + Dues & Assessments + Processor Fees + Profit the Interchange and Assessments are passed through directly to the merchant. Processor fees are then added to the statement in line items. Very transparent pricing Interchange (Bank Issuer): Interchange Plus Pricing Interchange + Dues & Assessments + Processor Fees + Profit Processor/Sales Organization: Discount Rate (Processor).20% 1.00% % of the Sale Transaction Fee (Processor) $.04 $.30/trans Monthly Fees $5 $15/mo Tiered / Bundled Bucket Pricing : PCI Fees (Compliance) $3 $30/mo Processor categorizes interchange fees into three pricing tiers called, Mid- and Non-. Can be up to 6 tiers. The processor fees are added into the tiered pricing levels. Not transparent pricing Mid Non Visa/MC/Discover/Amex: Dues/Assessments: Range.11%.13% Network Fees: $.02/trans (not on Amex) Gateway Fees $10 $20/mo Some smaller miscellaneous fees are not noted here. Some fees are only charged on certain transaction types. Tiered / Bundled Pricing.Also referred to as Bucket Pricing The Processor/Sales Organization Determines Which Buckets the Various Card Types Fall Into. You Typically Overpay With This Pricing Model New American Express Program: OptBlue OptBlue streamlines the merchants card acceptance process, allowing for a simplified, quick, and easy way to accept American Express Cards. Rate Charged.1.75% Swiped Cards, Consumer Cards Debit card.18% Credit card 1.64% Mid Rate Charged.2.75% Swiped or Keyed Cards, Consumer cards, Rewards Reward card 1.78% Keyed card 1.93% Non Rate Charged 3.50% Swiped or Keyed Cards, Consumer or Business Cards, Rewards Enhanced Reward card 2.68% Keyed Reward card 2.17% Corp card 2.23% One Provider One processing contact for all questions, so it s easy for merchants to get answers. One Deposit Merchants get paid at the same time as they do for other card brands to maximize cash flow. One Statement A single, simple statement for all cards for easier reconciliation. Processing Partner Determines Rates Your Partner sets the price for American Express Card acceptance, which are typically lower rates! 3

4 OptBlue Program: Who s Eligible Eligible for Merchant Criteria OptBlue Estimated to process under $1MM in annual American Express Charge Volume Located in U.S. only (does not include Puerto Rico, U.S. Virgin Islands, or any other U.S. Territory) Transact in USD only Included in Prohibited Industry list for OptBlue (listed in Appendix and American Express Program Operating Regulations) Participates in a Franchise (listed in Appendix and American Express Program Operating Regulations) Has existing American Express relationship with over $250MM in American Express Charge Volume annually Ineligible for OptBlue Opt Blue: New Rates Determined by Industry and Size of Transaction Industry Tier 1* Tier 2* Tier 3* Retail 2.10% < $75/trans 2.45% $75 $1,000/trans 2.90% > $1,000/trans Service 2.10% < $400/trans 2.45% $400 $3,000/trans 2.90% > $3,000/trans Restaurant 2.35% <$25/trans 2.95% $25 $150/trans 3.25% > $150/trans *Average cost, assessments included, $.15/transaction not included. Check with representative for your rates SAMPLE: Retail business with sales under $75 per transaction Volume = $25,000/month Current: 2.890% + $.15/transaction New: 2.10% + $.15/transaction * SAVINGS: $ in Savings!!! Current Rates 2.89% 2.89% 3.50% PCI Compliance: PCI Compliance Just what IS expected of a Merchant? Counhttps:// PCI applies to ANY organization or merchant, regardless of size or number of transactions, that accepts, transmits or stores any cardholder data How to achieve PCI DSS Compliance? Complete a Self Assessment Questionnaire (SAQ) annually and if there is any internet based card processing, you will need to pass an external vulnerability scan. The scans are required quarterly. ion testing may be d verified through approved vendors according to the PCI Counhttps:// Self Assessment Questionnaires PCI Compliance Sage/Trustwave SECURITY PROGRAM Getting Started Sage partners with PCI industry experts Trustwave, Inc. for their merchant PCI program. Upon boarding, merchant profiles are loaded into the Trustwave portal SAQ C Merchants with payment application systems connected to the Internet, no electronic cardholder data storage. Not applicable to e commerce channels. SAQ D E commerce merchants, and if card data is stored electronically as part of payment processing, then this SAQ type will always be applicable. What s Included: Approved Scanning Vendor (ASV) Vulnerability Scans PCI Compliance Tools PCI Wizard Security policy templates TrustKeeper Agent: PCI Monitoring and Security Tools Trusted Commerce Seal Breach Coverage up to $50,000 Trustwave Wizard tool that guides merchants through the SAQs, prefilling answers and speeding up the process 4

5 PCI Data Breach Contributors/Vulnerabilities: 1. No firewall in place Firewall not properly configured (most common) Thank You! 2. Using default passwords Commonly known, Searchable online Using noncomplex passwords 3. Not having antivirus software installed Software and programs not up-to-date Software not on all end points 4. Insecure Remote Access #1 compromise pathway of today s hackers Common applications RDP LogMeIn RemotePC pcanywhere GoToMyPC VPN PCI/General Over 816 million records compromised in USA since million people in the USA 5

SellWise User Group. Thursday, February 19, 2015

SellWise User Group. Thursday, February 19, 2015 SellWise User Group Thursday, February 19, 2015 Slides and recording posted on scouting.org/financeimpact Look on the Council Fiscal Management Tab, then look at the bottom left for Sellwise Support/User

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

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

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

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

PCI Compliance Overview

PCI Compliance Overview PCI Compliance Overview 1 PCI DSS Payment Card Industry Data Security Standard Standard that is applied to: Merchants Service Providers (Banks, Third party vendors, gateways) Systems (Hardware, software)

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

Protecting Your Customers' Card Data. Presented By: Oliver Pinson-Roxburgh

Protecting Your Customers' Card Data. Presented By: Oliver Pinson-Roxburgh Protecting Your Customers' Card Data Presented By: Oliver Pinson-Roxburgh Agenda Trustwave Overview PCI Scope Compromise Statistics PCI Makes Business Sense Registration Process TrustKeeper Features Support

More information

Q: What is PCI? Q: To whom does PCI apply? Q: Where can I find the PCI Data Security Standards (PCI DSS)? Q: What are the PCI compliance deadlines?

Q: What is PCI? Q: To whom does PCI apply? Q: Where can I find the PCI Data Security Standards (PCI DSS)? Q: What are the PCI compliance deadlines? Q: What is PCI? A: The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that ALL companies that process, store or transmit credit card information maintain

More information

Data Security Basics for Small Merchants

Data Security Basics for Small Merchants Data Security Basics for Small Merchants 28 October 2015 Stan Hui Director, Merchant Risk Lester Chan Director, Merchant Risk Disclaimer The information or recommendations contained herein are provided

More information

An Education in Merchant Processing

An Education in Merchant Processing An Education in Merchant Processing Presented by: Michael Mintz COO - AMG Payment Solutions Today s Agenda Introduction and Background Important Industry Terms The Electronic Payment Process Interchange

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

PCI Data Security Standards

PCI Data Security Standards PCI Data Security Standards An Introduction to Bankcard Data Security Why should we worry? Since 2005, over 500 million customer records have been reported as lost or stolen 1 In 2010 alone, over 134 million

More information

* Any merchant that has suffered a hack that resulted in an account data compromise may be escalated to a higher validation level.

* Any merchant that has suffered a hack that resulted in an account data compromise may be escalated to a higher validation level. Q: What is PCI? A: The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that ALL companies that process, store or transmit credit card information maintain

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

UCSB Credit Card Processing and PCI Compliance

UCSB Credit Card Processing and PCI Compliance UCSB Credit Card Processing and PCI Compliance Sandra Featherson Associate Director of Controls Campus Credit Card Coordinator May 2011 Agenda Campus Credit Card Process Overview Terminology Approval/Acceptance

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

PROTECTION OF OUR MERCHANTS AND REFERRAL PARTNERS IS OUR FIRST CONCERN

PROTECTION OF OUR MERCHANTS AND REFERRAL PARTNERS IS OUR FIRST CONCERN PCI Q: What is PCI? A: The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that ALL companies that process, store or transmit credit card information

More information

SecurityMetrics Introduction to PCI Compliance

SecurityMetrics Introduction to PCI Compliance SecurityMetrics Introduction to PCI Compliance Card Data Compromise What is a card data compromise? A card data compromise occurs when payment card information is stolen from a merchant. Some examples

More information

Version 7.4 & higher is Critical for all Customers Processing Credit Cards!

Version 7.4 & higher is Critical for all Customers Processing Credit Cards! Version 7.4 & higher is Critical for all Customers Processing Credit Cards! Data Pro Accounting Software has met the latest credit card processing requirements with its release of Version 7.4 due to the

More information

A Compliance Overview for the Payment Card Industry (PCI)

A Compliance Overview for the Payment Card Industry (PCI) A Compliance Overview for the Payment Card Industry (PCI) Many organizations are aware of the Payment Card Industry (PCI) and PCI compliance but are unsure if they are doing everything necessary. This

More information

How To Protect Your Credit Card Information From Being Stolen

How To Protect Your Credit Card Information From Being Stolen 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

How To Protect Your Business From A Hacker Attack

How To Protect Your Business From A Hacker Attack 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

Payment Card Industry Data Security Standard

Payment Card Industry Data Security Standard Payment Card Industry Data Security Standard Abhinav Goyal, B.E.(Computer Science) MBA Finance Final Trimester Welingkar Institute of Management ISACA Bangalore chapter 13 th February 2010 Credit Card

More information

Project Title slide Project: PCI. Are You At Risk?

Project Title slide Project: PCI. Are You At Risk? Blank slide Project Title slide Project: PCI Are You At Risk? Agenda Are You At Risk? Video What is the PCI SSC? Agenda What are the requirements of the PCI DSS? What Steps Can You Take? Available Services

More information

Payment Card Industry Data Security Standard (PCI DSS) and Payment Application Data Security Standard (PA-DSS) Frequently Asked Questions

Payment Card Industry Data Security Standard (PCI DSS) and Payment Application Data Security Standard (PA-DSS) Frequently Asked Questions PCI/PA-DSS FAQs Payment Card Industry Data Security Standard (PCI DSS) and Payment Application Data Security Standard (PA-DSS) Frequently Asked Questions What is PCI DSS? The Payment Card Industry Data

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

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

Don Roeber Vice President, PCI Compliance Manager. Lisa Tedeschi Assistant Vice President, Compliance Officer

Don Roeber Vice President, PCI Compliance Manager. Lisa Tedeschi Assistant Vice President, Compliance Officer Complying with the PCI DSS All the Moving Parts Don Roeber Vice President, PCI Compliance Manager Lisa Tedeschi Assistant Vice President, Compliance Officer Types of Risk Operational Risk Normal fraud

More information

MERCHANT CREDIT CARD PROCESSING APPLICATION AND AGREEMENT PAGE 1 of 2 BUSINESS INFORMATION Taxpayer Identifi cation Number: (9 digits)

MERCHANT CREDIT CARD PROCESSING APPLICATION AND AGREEMENT PAGE 1 of 2 BUSINESS INFORMATION Taxpayer Identifi cation Number: (9 digits) Primary Sales Partner Name and Number: Sub Sales Partner Name and Number: Business LEGAL Name: MERCHANT CREDIT CARD PROCESSING APPLICATION AND AGREEMENT PAGE 1 of 2 BUSINESS INFORMATION Taxpayer Identifi

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

Preparing for EMV chip card acceptance

Preparing for EMV chip card acceptance Preparing for EMV chip card acceptance Ben Brown Vice President, Regional Sales Manager, Wells Fargo Merchant Services Lily Page Vice President, Wholesale ereceivables, Wells Fargo Merchant Services June

More information

What are the PCI DSS requirements? PCI DSS comprises twelve requirements, often referred to as the digital dozen. These define the need to:

What are the PCI DSS requirements? PCI DSS comprises twelve requirements, often referred to as the digital dozen. These define the need to: What is the PCI standards council? The Payment Card Industry Standards Council is an institution set-up by American Express, Discover Financial Services, JCB, MasterCard Worldwide and Visa International

More information

How to read your statement basics IRS Reporting Early Termination Fees Contract Renewals Equipment Leases & Free Equipment PCI Compliance General

How to read your statement basics IRS Reporting Early Termination Fees Contract Renewals Equipment Leases & Free Equipment PCI Compliance General 2 How to read your statement basics IRS Reporting Early Termination Fees Contract Renewals Equipment Leases & Free Equipment PCI Compliance General info Q&A 3 Calculate your Effective Rate Total Processing

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

Merchant guide to PCI DSS

Merchant guide to PCI DSS Merchant guide to PCI DSS Contents What is PCI DSS and why was it introduced?... 3 Who needs to become PCI DSS compliant?... 3 BOIPA Simple PCI DSS - 3 step approach to helping businesses... 3 What does

More information

PCI Risks and Compliance Considerations

PCI Risks and Compliance Considerations PCI Risks and Compliance Considerations July 21, 2015 Stephen Ramminger, Senior Business Operations Manager, ControlScan Jon Uyterlinde, Product Manager, Merchant Services, SVB Agenda 1 2 3 4 5 6 7 8 Introduction

More information

PCI Compliance Are you at Risk? September 17, 2014 Dan Garrett/Matt Fluegge Vantiv

PCI Compliance Are you at Risk? September 17, 2014 Dan Garrett/Matt Fluegge Vantiv PCI Compliance Are you at Risk? September 17, 2014 Dan Garrett/Matt Fluegge Vantiv Security Challenges Desirability of Data 80% of all data breaches is payment card data (Verizon RISK team assessment)

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

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

CREDIT CARD PROCESSING AND MERCHANT SERVICES

CREDIT CARD PROCESSING AND MERCHANT SERVICES CREDIT CARD PROCESSING AND MERCHANT SERVICES provides credit card processing and merchant services for a wide range of business types - including retail, e-commerce, professional services, restaurants,

More information

Sales Rep Frequently Asked Questions

Sales Rep Frequently Asked Questions V 02.21.13 Sales Rep Frequently Asked Questions OMEGA Processing Data Protection Program February 2013 - Updated In response to a national rise in data breaches and system compromises, OMEGA Processing

More information

Credit Card Processing, Point of Sale, ecommerce

Credit Card Processing, Point of Sale, ecommerce Credit Card Processing, Point of Sale, ecommerce Compliance, Self Auditing, and More John Benson Kurt Willey HACKS REGULATIONS Greater Risk for Merchants Topics Compliance Changes Scans Self Audits

More information

PCI Compliance. What is New in Payment Card Industry Compliance Standards. October 2015. cliftonlarsonallen.com. 2015 CliftonLarsonAllen LLP

PCI Compliance. What is New in Payment Card Industry Compliance Standards. October 2015. cliftonlarsonallen.com. 2015 CliftonLarsonAllen LLP cliftonlarsonallen.com PCI Compliance What is New in Payment Card Industry Compliance Standards October 2015 Overview PCI DSS In the beginning Each major card brand had its own separate criteria for implementing

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

Guide to Payment Processing

Guide to Payment Processing Guide to Payment Processing What s Inside: Industry Players Components of Payment Processing Reading Your Merchant Statement Understanding Fees Processing Methods Trends Need-to-Know Vocabulary Guide to

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

PCI Compliance. How to Meet Payment Card Industry Compliance Standards. May 2015. cliftonlarsonallen.com. 2015 CliftonLarsonAllen LLP

PCI Compliance. How to Meet Payment Card Industry Compliance Standards. May 2015. cliftonlarsonallen.com. 2015 CliftonLarsonAllen LLP 2015 CliftonLarsonAllen LLP PCI Compliance How to Meet Payment Card Industry Compliance Standards May 2015 cliftonlarsonallen.com Overview PCI DSS In the beginning Each major card brand had its own separate

More information

Important Info for Youth Sports Associations

Important Info for Youth Sports Associations Important Info for Youth Sports Associations What the Heck is PCI DSS and Why Should I Care? Joe Posey Terrapin Financial Services Your Club is an ecommerce Business You accept online registration over

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

AIS Webinar. Payment Application Security. Hap Huynh Business Leader Visa Inc. 1 April 2009

AIS Webinar. Payment Application Security. Hap Huynh Business Leader Visa Inc. 1 April 2009 AIS Webinar Payment Application Security Hap Huynh Business Leader Visa Inc. 1 April 2009 1 Agenda Security Environment Payment Application Security Overview Questions and Comments Payment Application

More information

PCI-DSS Compliance. Ron Dinwiddie Chief Technology Officer J. Spargo & Associates

PCI-DSS Compliance. Ron Dinwiddie Chief Technology Officer J. Spargo & Associates PCI-DSS Compliance Ron Dinwiddie Chief Technology Officer J. Spargo & Associates Agenda What is PCI Compliance Why is PCI Important How does this impact me? Becoming PCI Compliant JSA PCI Strategy Risk

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

Securing The Data. Payment System Forum Bank Negara Malaysia. 27 th November 2014. Murugesh Krishnan Head of Risk, South & Southeast Asia

Securing The Data. Payment System Forum Bank Negara Malaysia. 27 th November 2014. Murugesh Krishnan Head of Risk, South & Southeast Asia Securing The Data Payment System Forum Bank Negara Malaysia 27 th November 2014 Murugesh Krishnan Head of Risk, South & Southeast Asia Disclaimer Case studies, statistics, research and recommendations

More information

Kim Decarolis Compliance and Security Specialist decarolisk@anx.com (248) 447-4073. Mark Wayne Vice President Compliance and Security Specialist

Kim Decarolis Compliance and Security Specialist decarolisk@anx.com (248) 447-4073. Mark Wayne Vice President Compliance and Security Specialist Target, Starbucks, Neiman Marcus Will your pharmacy be the next data breach victim? Kim Decarolis Compliance and Security Specialist decarolisk@anx.com (248) 447-4073 Mark Wayne Vice President Compliance

More information

PAI Secure Program Guide

PAI Secure Program Guide PAI Secure Program Guide A complete guide to understanding the Payment Card Industry Data Security Requirements and utilizing the PAI Secure Program. Letter From the CEO Welcome to PAI Secure. As you

More information

Cash 257 Merchant Services and Revenue Collection

Cash 257 Merchant Services and Revenue Collection CPIM Academy Cash 257 Merchant Services and Revenue Collection 2015 Objectives Feel prepared to discuss/understand basics of merchant processing Understand Service Fees Difference between credit and debit

More information

GRINNELL COLLEGE CREDIT CARD PROCESSING AND SECURITY POLICY

GRINNELL COLLEGE CREDIT CARD PROCESSING AND SECURITY POLICY GRINNELL COLLEGE CREDIT CARD PROCESSING AND SECURITY POLICY PURPOSE The Payment Card Industry Data Security Standard was established by the credit card industry in response to an increase in identify theft

More information

SecurityMetrics. PCI Starter Kit

SecurityMetrics. PCI Starter Kit SecurityMetrics PCI Starter Kit Orbis Payment Services, Inc. 42 Digital Drive, Suite 1 Novato, CA 94949 USA Dear Merchant, Thank you for your interest in Orbis Payment Services as your merchant service

More information

PC-DSS Compliance Strategies. 2011 NDUS CIO Retreat July 27, 2011 Theresa Semmens, CISA

PC-DSS Compliance Strategies. 2011 NDUS CIO Retreat July 27, 2011 Theresa Semmens, CISA PC-DSS Compliance Strategies 2011 NDUS CIO Retreat July 27, 2011 Theresa Semmens, CISA True or False Now that my institution has outsourced credit card processing, I don t have to worry about compliance?

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

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

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

Comodo HackerGuardian. PCI Security Compliance The Facts. What PCI security means for your business

Comodo HackerGuardian. PCI Security Compliance The Facts. What PCI security means for your business Comodo HackerGuardian PCI Security Compliance The Facts What PCI security means for your business Overview The Payment Card Industry Data Security Standard (PCI DSS) is a set of 12 requirements intended

More information

PCI DSS Compliance Services January 2016

PCI DSS Compliance Services January 2016 PCI DSS Compliance Services January 2016 20160104-Galitt-PCI DSS Compliance Services.pptx Agenda 1. Introduction 2. Overview of the PCI DSS standard 3. PCI DSS compliance approach Copyright Galitt 2 Introduction

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

Payment Card Industry Data Security Standards.

Payment Card Industry Data Security Standards. Payment Card Industry Data Security Standards. Your guide to protecting cardholder data Helping you manage the risk. Credit Card fraud and data compromises are an increasingly serious problem, costing

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

GLOSSARY OF MOST COMMONLY USED TERMS IN THE MERCHANT SERVICES INDUSTRY

GLOSSARY OF MOST COMMONLY USED TERMS IN THE MERCHANT SERVICES INDUSTRY GLOSSARY OF MOST COMMONLY USED TERMS IN THE MERCHANT SERVICES INDUSTRY Acquiring Bank The bank or financial institution that accepts credit and/or debit card payments for products or services on behalf

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

How Secure is Your Payment Card Data?

How Secure is Your Payment Card Data? How Secure is Your Payment Card Data? Complying with PCI DSS SLIDE 1 PRESENTERS Francis Tam, CPA, CISA, CISM, CITP, CRISC, PCI QSA Managing Director, IT Security Practice PCI Practice Leader Francis has

More information

537 G St., Suite 201, Eureka, CA 95501 www.eurekapayments.com

537 G St., Suite 201, Eureka, CA 95501 www.eurekapayments.com I. Costs of Merchant Processing. This paper provides an overview of the cost drivers for merchant processing; describes how merchant processors categorize merchants and defines the most common types of

More information

PCI COMPLIANCE GUIDE For Merchants and Service Members

PCI COMPLIANCE GUIDE For Merchants and Service Members PCI SAQ C-VT PCI COMPLIANCE GUIDE For Merchants and Service Members PCI DSS v2.0 SAQ CVT Merchant Guide 1 Contents Contents... 2 Introduction... 3 Defining an SAQ C Merchant... 3 REQUIREMENTS FOR SAQ-VT...

More information

CPIM Academy. Cash 257 Merchant Services and Revenue Collection

CPIM Academy. Cash 257 Merchant Services and Revenue Collection CPIM Academy Cash 257 Merchant Services and Revenue Collection 2015 Objectives Feel prepared to discuss/understand basics of merchant processing Understand Service Fees Difference between credit and debit

More information

EMV : Frequently Asked Questions for Merchants

EMV : Frequently Asked Questions for Merchants EMV : Frequently Asked Questions for Merchants The information in this document is offered on an as is basis, without warranty of any kind, either expressed, implied or statutory, including but not limited

More information

AISA Sydney 15 th April 2009

AISA Sydney 15 th April 2009 AISA Sydney 15 th April 2009 Where PCI stands today: Who needs to do What, by When Presented by: David Light Sense of Security Pty Ltd Agenda Overview of PCI DSS Compliance requirements What & When Risks

More information

PCI Compliance: How to ensure customer cardholder data is handled with care

PCI Compliance: How to ensure customer cardholder data is handled with care PCI Compliance: How to ensure customer cardholder data is handled with care Choosing a safe payment process for your business Contents Contents 2 Executive Summary 3 PCI compliance and accreditation 4

More information

PCI COMPLIANCE TO BUILD HIGHER CONFIDENCE FOR CARD HOLDER AND BOOST CASHLESS TRANSACTION. Suresh Dadlani, ControlCase

PCI COMPLIANCE TO BUILD HIGHER CONFIDENCE FOR CARD HOLDER AND BOOST CASHLESS TRANSACTION. Suresh Dadlani, ControlCase PCI COMPLIANCE TO BUILD HIGHER CONFIDENCE FOR CARD HOLDER AND BOOST CASHLESS TRANSACTION Suresh Dadlani, ControlCase About Vietnam Google search 2 Population 86 Mn Urban Population 25 Mn, approx 30% -

More information

ICCCFO Conference, Fall 2011. Payment Fraud Mitigation: Securing Your Future

ICCCFO Conference, Fall 2011. Payment Fraud Mitigation: Securing Your Future ICCCFO Conference, Fall 2011 Payment Fraud Mitigation: Securing Your Future Presented by: Brian Irwin, CTP Vice President Fifth Third Bank Commercial Treasury Management And Claire Dittrich Executive Consultant-

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 1.1 February 2008 Table of Contents About this Document... 1 PCI Data Security Standard

More information

What is EMV? What is different?

What is EMV? What is different? U.S. consumers are receiving new debit and credit cards with embedded chip technology that better stores and protects cardholder information. These new chip cards are part of the new card standard, Europay,

More information

Effectively Managing Data Breaches

Effectively Managing Data Breaches Effectively Managing Data Breaches May 27, 2015 Stoddard Lambertson Cyber Intelligence and Investigations Justina Jow Cyber Intelligence and Investigations Disclaimer The information or recommendations

More information

Introduction to Element Payment Services:

Introduction to Element Payment Services: Introduction to Element Payment Services: Presented by: Stefan Prue, Relationship Manager Element Payment Services September 2013 Element Payment Services Founded in 2003, Headquartered in Chandler, AZ

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

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

Understanding Payment Card Industry (PCI) Data Security

Understanding Payment Card Industry (PCI) Data Security Understanding Payment Card Industry (PCI) Data Security Office of the State Controller November 2010 State of North Carolina The Enemy Major Security Breaches TJ-Max Heartland Hannaford Foods BJ s Wholesale

More information

Don t be tomorrow s headline: Protect and secure payment information

Don t be tomorrow s headline: Protect and secure payment information Don t be tomorrow s headline: Protect and secure payment information Lexi Custis VP ereceivables Consultant Reid Andrews VP Treasury Management Consultant October 2015 Staunton, VA 2014 Wells Fargo Bank,

More information

PCI Security Compliance

PCI Security Compliance E N T E R P R I S E Enterprise Security Solutions PCI Security Compliance : What PCI security means for your business The Facts Comodo HackerGuardian TM PCI and the Online Merchant Overview The Payment

More information

HOW SECURE IS YOUR PAYMENT CARD DATA?

HOW SECURE IS YOUR PAYMENT CARD DATA? HOW SECURE IS YOUR PAYMENT CARD DATA? October 27, 2011 MOSS ADAMS LLP 1 TODAY S PRESENTERS Francis Tam, CPA, CISA, CISM, CITP, CRISC, PCI QSA Managing Director PCI Practice Leader Kevin Villanueva,, CISSP,

More information

Cyber Security: Secure Credit Card Payment Process Payment Card Industry Standard Compliance

Cyber Security: Secure Credit Card Payment Process Payment Card Industry Standard Compliance Cyber Security: Secure Credit Card Payment Process Payment Card Industry Standard Compliance A Non-Technical Guide Essential for Business Managers Office Managers Operations Managers Compliant? Bank Name

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

Data Security Standard (DSS) Compliance. SIFMA June 13, 2012

Data Security Standard (DSS) Compliance. SIFMA June 13, 2012 Payment Card Industry (PCI) Data Security Standard (DSS) Compliance SIFMA June 13, 2012 EisnerAmper Consulting Services Group Overview of EisnerAmper Fifth fhlargest accounting firm in the Metro New York

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

Office of Finance and Treasury

Office of Finance and Treasury Office of Finance and Treasury How to Accept & Process Credit and Debit Card Transactions Procedure Related Policy Title Credit Card Processing Policy For University Merchant Locations Responsible Executive

More information

EMV Frequently Asked Questions for Merchants May, 2014

EMV Frequently Asked Questions for Merchants May, 2014 EMV Frequently Asked Questions for Merchants May, 2014 Copyright 2014 Vantiv All rights reserved. Disclaimer The information in this document is offered on an as is basis, without warranty of any kind,

More information

1/18/10. Walt Conway. PCI DSS in Context. Some History The Digital Dozen Key Players Cardholder Data Outsourcing Conclusions. PCI in Higher Education

1/18/10. Walt Conway. PCI DSS in Context. Some History The Digital Dozen Key Players Cardholder Data Outsourcing Conclusions. PCI in Higher Education PCI in Higher Education Walter Conway, QSA 403 Labs, LLC Walt Conway PCI consultant, blogger, trainer, speaker, author Former Visa VP Help schools become PCI compliant Represent Higher Education at PCI

More information

E Pay. A Case Study in PCI Compliance. Illinois State Treasurer. Dan Rutherford

E Pay. A Case Study in PCI Compliance. Illinois State Treasurer. Dan Rutherford E Pay A Case Study in PCI Compliance Illinois State Treasurer Dan Rutherford What is PCI? The Payment Card Industry s Data Security Standard states: PCI Data Security Requirements applies to all members,

More information

Protect Data. Secure Business.

Protect Data. Secure Business. Achieve Payment Card Industry Data Standard Security (PCI DSS) compliance today, while advancing your network for the technology of tomorrow. Protect Data. Secure Business. Building Your Business With

More information

PCI DSS Compliance. 2015 Information Pack for Merchants

PCI DSS Compliance. 2015 Information Pack for Merchants PCI DSS Compliance 2015 Information Pack for Merchants This pack contains general information regarding PCI DSS compliance and does not take into account your business' particular requirements. ANZ recommends

More information