Security Metrics released their third study on unencrypted card data; the results were astonishing as 63% of businesses do not encrypt credit cards. This means that businesses are storing the 16-digit Primary Account Number (PAN) in the clear. 7% of businesses are storing the magnetic stripe data found on the back of the card. Not only is storing unencrypted card information reckless—putting organizations and their customers at risk—it violates Payment Card Industry Data Security Standards (PCI DSS).
If you are new to Payment Card Industry Data Security Standard (PCI DSS) compliance, the topic can be somewhat confusing. Learning the terms, navigating requirements, and understanding what is in scope is no easy feat. If your organization accepts, transmits, or stores any card holder data, it is important to know the basics.
To help you on your way, one of our partners, FoxyCart, has put together a primer on PCI DSS Compliance. In easy-to-understand terms, the ebook covers:
- What is PCI compliance?
- How can you minimize your burden?
- What common myths need to be debunked?
We see signs every day that inform us about safety measures an organization is taking. We have all seen these examples:
- “Premises protected by video surveillance.”
- “This vehicle stops at all railroad crossings.”
- “Driver carries less than $100 in cash.”
- “Caution: Wet floor”
These types of signs are common in business. They show customers, partners, and employees what’s being done to protect the business and help reduce the organization’s risk and liability.
EMV (Europay, Mastercard, Visa) has been on everyone’s radar for a while now, but recent data breaches and impending deadlines is making EMV a top priority for merchants.
What is EMV?
EMV® is a global standard for secure credit and debit payment cards based on chip card technology, already in use throughout the world. Also referred to as chip and PIN or chip and signature, EMV-capable bank cards feature an embedded microprocessor chip that contains the cardholder data.
As if the recent data compromises affecting more than 115,000,000 cardholders among Target, Neiman Marcus, Michaels, Aaron Brothers, Marriott and Sheraton, to name a few, are not enough, experts are predicting data breaches may increase in 2014. Are your payment security measures as strong as they could be? Wash away all the marketing hype and hyperbole, and learn why TrustCommerce clients rest well, knowing that their customers’ data is secure. These best practices protect payments and reduce the risk and liability associated with accepting electronic payments.
IRVINE, California, January 31, 2014 — TrustCommerce, a leading provider of Point-to-Point Encryption (P2PE) payment solutions, is pleased to announce that we have been selected by EXUSMED™ to provide secure payment processing and risk management solutions for EXUSMED’s new national advanced health maintenance programs. EXUSMED is a corporation offering affordable remote primary health care solutions for both patients and providers.
TrustCommerce will provide EXUSMED a seamless electronic payment processing service that will offer a broad range of easy-to-integrate products for both patients and providers with a focus on security, data protection and risk mitigation.
Healthcare organizations must be aware of vulnerabilities when accepting electronic payments and be proactive about protecting against them. Whether it is an individual employee who steals a patient’s payment card information or a large-scale cyber-attack, compromised data is costly. According to Ponemon Institute’s 2013 Global Cost of a Data Breach, Healthcare experiences the most costly data breaches at $233 per lost record; pharmaceuticals rank third at $207. Couple that with damage to brand and reputation and it is easy to see how difficult it can be to recover from a breach.
Every day, merchants work to control costs while delivering high-quality products, services, and support. Level II and III transaction processing is one way merchants can save, while creating a value-add for prospects and customers.
TrustCommerce is out and about this fall! Don’t miss an opportunity to meet with us in-person. Utility Payment Conference Visit us at Booth #204! September 30-October 2, 2013 Houston Harris User Group October 1-2, 2013 South Carolina GE Western Region User Group (WRUG) Fall Conference October 10-11, 2013 Newport Beach, CA …
Transit and parking systems are making the move to electronic payments as they face tighter budgets, seek to operate more efficiently, and improve the customer experience. Moving from cash to electronic payments brings many benefits. In many cases, it can improve cash flow and is less expensive than collecting cash. Accepting electronic payments can also resolve other customer experience issues like these identified in a recent MasterCard study1:
- 65% of US commuters who use cash to pay for mass transit worry about having the right amount to pay for their trip.
- 36% were unable to take mass transit at some time because they did not have enough cash on hand.
- 44% have missed a bus or train while waiting in line to purchase a ticket or add money to a fare card.
Take a look at 5 ways transit and parking industries are accepting electronic payments.