Hunt for bargains. Buy in bulk. There’s no shortage of smart shopping tips to help consumers navigate today’s vast marketplace. But the same doesn’t seem to be true when it comes to advice for those on the other side of the transaction. No one talks about smart selling. eMazzanti is here to change that.
We help retail business owners implement responsive website design and a variety of other smart selling tactics aimed toward putting their stores on the map. However, if we can offer just one piece of smart selling advice, it’s this: strive for PCI compliance. All other efforts are wasted if your store’s credit card processing system isn’t up to industry standards.
eMazzanti clarifies compliance criteria, illustrates the importance of meeting industry standards, and tells you how our team of tech experts can help you please the PCI police.
The ABCs of PCI
In 2006, the Payment Card Industry (PCI) developed a set of standards to ensure that all companies that accept, process, store or transmit credit card information do so within a secure environment. Each year, the criteria is reviewed and revised to keep up with the rapid pace of cybersecurity opportunities and threats.
Failure to Comply
Though it is clearly in retail’s best interest to comply with PCI standards, many stores do not. Companies’ reasons for noncompliance vary, but two common ones are lack of resources and lack of awareness.
The small business model depends on few employees wearing many hats. The owner may also be the accountant, the janitor, and the cashier. Spread so thin, many small businesses don’t see the point in dedicating limited time and money to pursuing PCI compliance. After all, the data breach headlines don’t mention Mom and Pop.
That’s because high profile retailers with adequate staff and resources also struggle to meet PCI criteria—they just don’t realize it until it’s too late. These companies go down the PCI’s checklist and take the appropriate measures to become certified compliant. There is a widespread misconception that this is enough. The truth is that PCI compliance is a continuous goal. It can only be achieved through regular system updates and monitoring.
Failure to comply may be common, but it is not free from consequence. Subpar data security makes retailers vulnerable to the cyber attacks that grow seemingly stronger and more prevalent each day. Falling victim to a cyber attack can do irreparable damage to your business’ reputation, with prospective and existing customers understandably reluctant to trust you with their credit card information.
There are also financial ramifications of noncompliance that far outweigh the cost of abiding by PCI best practices. In the event of a breach, the affected business may be subject to compensation payments, lawsuits, bank fines, federal audits, and remediation costs. The small companies that often dismiss PCI compliance as a waste of time and money have the most to lose.
This brings us to another piece of smart selling advice: work with a PCI compliance expert you can trust. As you now know, PCI compliance is less about securing a status and more about securing customer credit card information and the future of your business. You may not have the staff or experience to perform the necessary actions, but we do.
eMazzanti specializes in the development and maintenance of secure systems and applications—which happens to be the 6th item on PCI’s 2017 compliance checklist. eMazzanti will assess your company’s current compliance level, devise a strategy to meet PCI standards, and maintain compliance through consistent audits, updates, and overall support. We are committed to helping you secure the credit card information of your valued customers and we have the certification to prove it.
In today’s cyber crime-ridden climate, PCI compliance is a worthwhile pursuit. eMazzanti has the time and resources to help you meet and maintain this and other smart selling goals. Find out more about our complete compliance management solutions.
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