Page 19 - D12771 - LBMAO - Jan-Feb-2018 - REPORTER - web

understanding

pci compliance

Submitted by LBMAO Supplier Member Baseline Processing

ome Depot. Target. Yahoo. eBay and, customers through Target’s HVAC vendor. around issues like PCI (Payment Card
Hof course, Equifax; the biggest data These breaches are hugely costly; Industry) Compliance, which is the
breaches ever have all occurred in the along with harsh fines (up to $25,000 industry standard for card data security.
last few years; and it’s expected to get per stolen card number), there is a loss Understanding PCI Compliance
worse as cyber-criminals increase their of trust and reputation. And, from a matters because it protects you and
efforts and sophistication.These hacks customer’s perspective, there is growing your customers. It protects you against
have brought worldwide attention to the concern around how businesses are fraudulent transactions; and it gives
problem, but they’ve also left the false storing and transmitting their credit card you and your customers the peace of
impression that only massive companies data. mind that their cardholder data is being
are at risk. handled securely.
In fact, studies show that about half HOW DOES THIS IMPACT YOU? One thing we often find with small
of all cyber attacks target small and So, what does this have to do with and medium-sized businesses in the
medium-sized businesses. This is partly how you process credit and debit card B2B (business to business) space is
due to ease. It’s also because hacking payments? that sensitive cardholder information
small businesses can provide a way into One of the reasons that the is still being stored on paper or on the
bigger businesses. LBMAO has partnered with Baseline company’s computer system. These
In the high-profile Target breach, Processing - beyond our group rate methods represent a large liability for
hackers gained access to the information plan and personalized service - is for
of 70 million credit and debit card the education and expertise we provide ...continued on page 26

www.lbmao.on.ca LBMAO Reporter -January-February 2018 19