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If you have opened a merchant account for all of your credit card processing purposes, then you might be aware of the fact that there are various kinds of fees applicable to your account. These fees will vary depending on the kind of transactions you make through your customers. So obviously, you would want to avoid facing any extra fees due to no fault of yours. In such a case, you should be aware of a fee, which is actually a fine, that can be avoided completely, provided you take the appropriate actions. That is the fine imposed for not being PCI compliant.
If your business is not PCI compliant, then that means you’re not providing a secure platform for your customers to use their credit cards. This is obviously not something that you want, because an insecure platform would result in your customers not being comfortable to use their cards, and the number of customers who do not use their credit cards is definitely lower than those who do, so you should not lose this valuable group of customers. Apart from the danger of losing customers, there is also a fine imposed by the credit card companies, which might be increased further by your merchant account provider.
But there is no need to get nervous or irritated about this, because you can very much deal with PCI compliance in a very comfortable manner. All you need to do is to make sure that your customers are getting a secure platform for using their credit cards. There are certain guidelines laid down by the Payment Card Industry (PCI), and if you follow these guidelines, you will become PCI compliant, thus eliminating the need for the fine in the first place. So you should take the steps towards becoming PCI compliant as soon as possible.
It is not too hard a task to become PCI compliant. It deals with providing the proper equipment to provide the sensitive credit card data. This might be a little challenging for you, since you have to learn to operate the latest equipment to process credit cards. But it is quite an easy challenge, and you can get comfortable with the equipment in a day or two. There’s nothing too big regarding that. Apart from getting the equipment, you also need to learn how to protect the equipment from cyber criminals, who look for loopholes in such machines.
Once you provide proper protection to your network, you can be sure of being PCI compliant, and thus there will be no need to fear the dreaded fine for not being PCI compliant. Once you take the few steps to become PCI compliant you can declare to your customers that your store is now safe to accept their credit cards, and that their data will be well-protected. This will undoubtedly give your customers more confidence to purchase from you more often. So there are indeed many benefits of becoming PCI compliant, apart from avoiding the fine.
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