UpFront - January/February 2010

Credit Card Processing Rules Change

by Liz Franklin

Does your business accept credit cards? If so, it’s time to make sure you’re compliant with new PCI data security standards. For new merchants, the deadline is immediate; existing merchants have until July 1, 2010, to comply. If you process credit cards using an outward-facing IP address, you must be compliant with the new PCI regulations in order to avoid huge fines, fees and expensive audits. Your computer also will be scanned quarterly.

You can avoid the scan by switching to a phone-based system (one that is hard-wired into the wall) or by calling in credit-card numbers one at a time. Or you can cancel your ability to process charge cards by computer altogether. You must still fill out the requisite Self Assessment Questionnaires unless you cancel your computer-based merchant service before the deadline.

Check with your processor to protect yourself. You are responsible for meeting all the new requirements. For more information, visit pcisecuritystandards.org.