Let’s talk about PCI compliance. We have recently heard from a potential client that Bob from Brand X told them he didn’t have a PCI compliance fee.
It just ain’t so. PCI compliance is now mandatory for all processors. All processors have to pass on the cost of surveying merchants to make sure they understand how to protect cardholder data. PCI compliance is for everyone’s benefit, cardholders and merchants.
We know of a restaurant that took all their credit card receipts and put them in a box. They put the box in their car to drive over to their bookkeeper’s office. On the way, they stopped to get gas and the car was stolen, along with all the credit card information. The industry fined them two $50,000 fines! Needless to say, they had to close their business.
This happened a few years ago before we stopped printing the whole number on the receipts, but the idea is still the same. The fines are horrendous! So let’s all get on the program. Even you, Bob.