Big Hairy Dog has received confirmation that credit card associations are taking a more assertive approach to PCI compliance validation. They have begun to implement stricter compliance validation mandates and increase fine penalties.
BHD wants to continue to work with our customers to educate each of you about PCI, and your role as a Level 1, 2, 3 or 4 Merchant. Over 90% of compromises occur at ‘Level 4’ merchants. Level 4 are those merchants who process less than 20 thousand credit card TRANSACTIONS annually. Most of BHD customers fall in the Level 4 category.
Currently fines assessed to merchants have come directly from the card associations as a result of:
1) A business encountered an account data compromise and did not validate their PCI compliance in time per the card brands. Therefore, the card brands will assess a monthly fine until they see the appropriate validation documents showing their compliance.
2) A business that qualifies as a Level 1 - 3 in terms of PCI compliance and did not submit their appropriate quarterly or yearly re-validation documents. The card brands may then fine them for failure to provide appropriate documentation.
Visa fine penalties due to PCI non-compliance are assessed monthly and determined by merchant level. MasterCard fine penalties due to PCI non-compliance are assessed quarterly and determined by merchant level.
We want to help you avoid these fines! If you are not PCI Compliant, please call Big Hairy Dog TODAY and find out how you can become PCI Compliant at affordable prices!
Protect your Business....Call Today! 800-377-7776