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PCI DSS Compliance Continues to Show Signs of Struggle

PCI DSS complianceDoes your business meet PCI DSS compliance requirements?

In a recent survey, data shows it's still a struggle to successfully maintain PCI DSS compliance. Sage 100 integrated Level 3 credit card processing helps you avoid all of that and make your life easier.

In a recent survey by Verizon, it’s clear that sustainable PCI DSS Compliance continues to decline. The survey showed that less than 30% of businesses polled said they were able to maintain full compliance. Avoid being a statistic with Sage 100 integrated payments to enable you to easily maintain your PCI DSS compliance.

What does PCI compliance mean?

PCI compliance means you have followed the proper guidelines published by the PCI DSS, an organization founded in 2006 to help protect personal data, including credit card numbers and sensitive information. All of the major credit card companies such as Visa, MasterCard, American Express, Discover, and JCB are concerned with data breaches and compliance at the merchant level.

As recently as 2014, one report found that PCI compliance was on the rise, showing significant jumps going back to 2011. However, compliance has since been on the decline. According to a Verizon 2020 Payment Security Report, there was a nearly 9% drop from the past year, and 27.5% less than in 2016 of the number of businesses that were fully compliant.

Security testing not comprehensive

Surprisingly, Verizon’s survey showed only 47% were able to successfully test security systems and processes at all. And a full 66% said their systems were totally unmonitored. The safest option is to avoid storing any credit card information entirely and rely on a secured credit card provider like VIP Integrated Payments. If you do store data, you’ll need to secure some surprising and largely overlooked places, such as:

  • Networks and wireless access routers
  • Payment card data stored in paper-based records (companies that take phone orders are particularly susceptible in this category)
  • Ecommerce shopping cart software
  • Level 3 payments

What data is the most at risk?

Thieves are stealing cardholder data in order to create false accounts or obtain other access to funds. With this information, they can make fraudulent purchases online, or in some cases, actually sell stolen data to others for money. If a thief can get the Primary account Number (PAN) and the necessary authentication information, they can illegally obtain the cardholder’s identity which they can use to impersonate the cardholder to use the card data.

These are among the main types of data on a credit card thieves are seeking:

  • PAN
  • Cardholder First and Last Names
  • Expiration Date
  • CID (which should NEVER be stored)
  • Magnetic stripe data

One of the most surprisingly common vulnerabilities for data thieves to exploit is seen in nearly half of the organizations in America: Default passwords. In Verizon's survey, a gigantic 48% of companies have never changed the vendor default password on systems where sensitive data may be stored.

The good news is that you can do better in 2021 with VIP Payments! 

Compliance in general can be intimidating but getting started doesn’t have to be difficult. Find an expert to guide you. VIP is a leading provider of integrated payment technology solutions to North American merchants, differentiated by their strategic partnerships and multiple platform model. VIP provides a broad suite of end-to-end payment solutions and superior US-based customer support. They have spent more than 10 years integrating and developing relationships in the credit card industry.

VIP’s credit card processing solutions integrate seamlessly with your ERP/accounting system, allowing you to securely accept credit card payments inside your software. The integration automatically posts payments to invoices, so there’s no need to go back into your program at the end of the day to reconcile your invoices or balance your general ledger. How much time could that save you every day?

Contact the experts at VIP Integrated Payments today to start saving time and money with Level 3, ERP-integrated credit card payments. You can reach VIP by phone at (888) 791-9390 ext. 101 or email.