9 Ways to Avoid PCI Compliance Fees

Hidden PCI Compliance Fees:  Is your company at risk?

Have you noticed any PCI compliance fees on your merchant statements? Unexpected and hidden fees are a risk for any business processing credit cards and there are ways to eliminate or reduce them with a little extra diligence. If you’ve been processing credit cards for the last few months or years, the topic PCI compliance has probably surfaced. Credit card processing statements are already confusing and many merchants aren’t sure how to pass the grade with PCI compliance.

Before we cover how to avoid PCI compliance fees, let’s review some PCI compliance basics. PCI compliance security standards are technical and operational requirements set by the PCI Security Standards Council (PCI SSC) to protect cardholder data. The standards apply to all entities that store, process or transmit cardholder data – with guidance for software developers and manufacturers of applications and devices used in those transactions. The Council is responsible for managing the security standards, while compliance with the PCI set of standards is enforced by the founding members of the Council, American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc.

9 Steps to Reduce PCI Compliance Fees:

1. Don’t store any payment card data on self-managed internal servers or workstations. 
   • Review the way you process credit and debit cards. 
     • Do you process credit cards manually? 
     • Do you write down the credit card number, expiration date to record the payment later? 

2. Use the right equipment: 
   • Develop and maintain updated secure systems and applications.
   • Consider EMV Terminals. 
3. Regularly test your security process: 
   • Maintain a policy that addresses information security for all personnel.
4. Conduct an annual internal audit.
5. Conduct quarterly PCI compliance scans.
6. Complete an annual risk assessment using a Self Assessment Questionnaire (SAQ).
7. Work with PCI compliance experts.
8. Use PCI validated payment gateways.
9. Use a payment provider who tokenizes sensitive data.

If you follow the 9 steps above you’ll most likely reduce or eliminate compliance fees. What happens if you continue to stay non-PCI compliant?  Payment brands may, at their discretion, fine an acquiring bank $5,000 to $100,000 per month for PCI compliance violations.  If you remain non-compliant banks will most likely either terminate your relationship or increase transaction fees. This all results in potential for lost revenue, customers, lawsuits, insurance claims, cancelled accounts, additional card issuer and government fines.

Contact APS Payments today and learn how we help your company with PCI compliance and streamline your credit card payment processing.

APS Payments enables you to cut costs and offers the following streamlined credit card processing features:

1. Full support to walk our customers through the PCI compliance process
2. Convenient 24-hour access to payment processing and reporting
3. Automated recurring billing
4. Improved cash flow
5. Fraud detection and prevention (volume thresholds, risk parameters)
6. Reduce invoicing costs by using our ClickToPay process
7. No additional licensing fees
8. Virtual Terminals(no integration needed, no software to install, simply use your web browser to securely log in to process transactions)
9. Credit card tokenization for secure access to future customer transactions
10. Real-time Payment Gateway
11. Level 3 supported gateway for US accounts, (significant savings for business to government or business to business transactions)
12. Batch processing when real time approvals are not required 
13. PCI DSS compliant at no additional cost
14. Some of the lowest American Express fees in the entire industry!
15. Next Day Funding including American Express making reconciliation process easier

 Contact us today!  Visit our APS website,  call 888-685-1900, or email.