When it comes to running your business, you have a lot to worry about. You may not have time to implement new and complex payment solutions. With fraud and data security threats constantly evolving, you need to be aware of safety measures to keep your business protected. The Payment Card Industry Data Security Standard’s (PCI DSS) main purpose is to reduce the risk of debit and credit card data loss. PCI contains technical requirements that protect storage of data and processing during and after a card payment from customers. Here are a few reasons complying with PCI DSS can protect your business:
- Reduce the Risk: Being PCI compliant helps reduce the risk and liability for your business by staying current on additional controls and practices which further reduces your business’ risk of being compromised.
- Protect your Customers: Promoting that your business is PCI compliant ensures to your customers that you are serious about security and taking all the precautions necessary to keep their payment data safe.
- Avoid Fines: Your business could face fines, and in some cases lawsuits, for not being PCI compliant in the event that your customer card payment information was breached or compromised.
Being PCI compliant offers peace of mind for you and your customers no matter the size of your business. According to the Security Standards Council, nearly 40% of small businesses that experienced data breach suffered more than $50,000 in losses. For that reason, at Arvest, providing solutions to help your business secure your payments is a top priority. Our Merchant Relationship Advisors are proud to offer local and knowledgeable assistance. To learn more about Arvest Merchant Services fraud and data security tools visit arvestmerchantservices.com