THE FUTURE OF CREDIT CARD
by Christopher Boudin
credit card security breaches have brought about major changes in the processing industry.
WHAT DO MERCHANTS NEED TO KNOW?
T SECURITY
he past couple of years have seen a number of high-profile digital security breaches, from the
theft of 40 million credit card numbers at Target stores to Russian hackers amass- ing over a billion online passwords. Te global scale of these thefts can seem quite daunting. What can retail merchants do to protect their customers and limit their own liability?
WHAT ARE THE GUIDELINES?
In North America, a joint venture by the five major credit card brands (Visa, MasterCard, American Express, Discover and JCB International) formed the Payment Card Industry Security Standards Council (PCI) in 2006. Te PCI Council maintains and revises the standards for secure credit card trans- actions as needed. Te current Payment Application Data Security Standard is ver- sion 2.0 (PA-DSS v2.0). If you use point-of-sale software
for your credit card transactions, you should visit the PCI Security Standards Council’s website [pcisecuritystandards. org > Approved Companies & Providers
> Validated Point-to-Point Encryption (P2PE) Solutions] and search for your POS software provider to confirm that your POS software is PA-DSS v2.0-certi- fied. Be sure to check the version number and compare it to the version of the soft- ware you have installed; running an older version of currently compliant POS soft- ware does not mean you are covered. Unfortunately, if you are not using
a PA-DSS v2.0-certified POS software, you may be required to fill out a PCI Self-Assessment Questionnaire. Using a Validated Payment Application means that your software provider has, in effect, already answered these questions for you. In other words, using PA-DSS v2.0 POS software takes the merchant “out of scope,” meaning that you are not required to pass the rigor- ous data security standards yourself. Tere are steps beyond using a Validated
Payment Application that merchants can take to remain compliant. For example, you shouldn’t be using Windows XP on any computers, especially POS machines, as it is no longer supported by Microsoft. Tat means if a potential security issue is discovered, it will not be fixed!
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