Portland, ME (PRWEB) October 31, 2012
Vision Payment Solutions (VPS) structured a win-win partnership with Compliance Solutions and Resources (CSR) under the leadership of VPS CEO Eric Hannelius. In connection with other compliance services, VPS is thrilled to be offering PCI compliance tool kits operated by market leader, CSR. This partnership conforms with Hannelius' ongoing vision to expand convenience to merchants and merchant-service providers.
The Payment Card Industry Data Security Standard (PCI DSS) mandates that all companies, to varying degrees, conform with certain rules. These rules, broken into twelve steps, help businesses better protect a cardholder's information. The degree of compliance required depends on the size of the business. Fines enacted for violations also vary. According to the PCI Compliance Guide, "Payment brands may, at their discretion, fine an acquiring bank $5,000 to $100,000 per month for PCI compliance violations." These fines are generally passed down to merchants, potentially crushing small businesses.
With so much at stake--and given that secure transactions are desirable anyway--one might wonder why any company would neglect complying with the data security standard (DSS). The answer: DSS policies are complicated, full of technical jargon, and difficult to apply correctly. SC Magazine, a British business publication, recently posted an article about PCI compliance among small merchants. Reporting on a PCI study, SC noted that while 100 percent of small merchants surveyed were aware of compliance rules, two-thirds of them felt that getting help in the process was too expensive. Apparently they have not been introduced to Compliance Solutions and Resources.
As part of the merchant account processing services compiled by Eric Hannelius and his senior management team at VPS, merchants can trust the compliance tools are in place to create a sustainable business. With the one stop shop of merchant tools provided by Vision Payment Solutions, a business gets the benefit of expertise, simplicity, and full compliance assistance. VPS's tool kit walks the merchant through all twelve steps of compliance, and shows how the rules specifically apply to them. For instance, a merchant must encrypt transmissions and restrict and monitor access to cardholder data. Instead of daunting complexity, companies can look forward to the easy success of compliance in all standards.
SC's article interviewed Jeremy King, the European director of the PCI security standards council. He expressed his hope that businesses would see the benefits of data security, and opt for compliant practice instead of paying fines. He stated, “rather than that, pay for a service that reduces risk to put you in a better position."
For more information about CSR, VPS's tool kit, and the twelve steps of compliance, visit http://www.csrcorporate.com or http://www.visionpayments.com/merchant-solutions/pci-compliance/.