There are industry wide standards for card data security to be followed, if you are planning to trade online then make sure you are going in accordance with the PCI security standards. These standards are implemented by the PCI Security Standards Council for account data protection. The organization was founded by American Express, Discover Financial Services, MasterCard Worldwide, JCB International and Visa, Inc.

 

In this regard it therefore becomes a pre-requisite to assure that your online credit card system has obtained PCI Certification after prior checks carried forward by the security auditor. However, if you are unlikely to go for the certificate then you are at the risk of getting penalized. Hosted gateway services such as PayPal or Authorise.net are PCI certified and your website does not receive any customer credit card information and this data is provider's website. After the required credit card information is acquired by the hosted gateway, clients get redirected back to your website to complete the pending checkout procedure. Hosted solution provider must be CISP Certified and appear on Visa's approved list. Techwave E-commerce ensures better technology with solutions that are PCI certified with a flawless network that is CISF certified.

If you sell online and accept credit cards then you will have to meet the PCI compliance deadlines. As an internet merchant account holder you will have to refer to your merchant bank for their specific validation requirements and deadlines. The merchant bank is entitled to update you with the deadline enforcements.

The financial institution or payment processors are the responsible organizations who get into the validation and enforcement of PCI compliance deadlines and can penalize website who do not follow PCI security standards.

• 1. Increased transaction processing fees.
• Fines of up to $550,000 for serious breaches.
• Suspension of credit card transaction processing abilities.

Click here to check if your shopping cart is PCI certified.