The PCI Security Standards Council is an open global forum for the ongoing development, enhancement, storage, dissemination and implementation of security standards for account data protection.
The PCI Security Standards Council’s mission is to enhance payment account data security by fostering broad adoption of the PCI Security Standards. The organization was founded by American Express, Discover Financial Services, JCB, MasterCard Worldwide, and Visa International.
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PCI DSS Compliant Card Transactions
Credit card company regulations state that all debit and credit card transactions taken over the phone should now be complying to PCI Data Security Standards (PCI-DSS). Many people we talk to are not aware that after the Jan 2008 deadline they would be breaking the rules of major card issuers such as Visa and Mastercard.
You could risk withdrawal of the card service and/or a large fine! On the positive side, merchants that are compliant can often reduce their transaction costs.
NewVoiceMedia has developed a secure PCI compliant service that will allow your contact centre or business to be compliant with the minimum of fuss or cost.
The PCI Standard is not a law!
It’s a regulation created by payment card companies (MasterCard and Visa Card being the leaders) and enforceable under contractual obligations with these credit card companies. Members and merchants agree to abide by these standards under the terms of their contracts with payment card companies. The Payment Card Industry (PCI) Standard outlines the security requirements for transmitting, storing, accessing, or processing cardholder data.
Compliance requirements. Compliance is required on a per-merchant ID (MID)-basis. This means that for companies with multiple MIDs each account has to be reviewed to ensure cardholder data is being handled correctly. Compliance requirements for each MID depend on the PCI classification level of that MID. Level classification for a given MID depends on the annual volume of transactions. The PCI security requirements are inline with current best practice security recommendations, such as the International Standards Code of Practice for Information Security Management (ISO 17799).
Penalties for Non-compliance (Visa). The credit card companies may impose penalties or fines on members, merchants, or their agents. Members or merchants are subjected to fines up to $500,000 per incident if there is a compromise on their network resulting in the loss or theft of cardholder information, and the network was subsequently found to be non-compliant at the time of the compromise. Also, if a member or merchant fails to immediately notify credit card companies of suspected or confirmed loss or theft of transaction information, the member or merchant will be subject to a penalty of $100,000 per incident.
You may also expose your company to legal action for damages.
Benefits of our service...
- Be compliant with the PCI DSS standards with the minimum fuss - no consultants required, use of our service is sufficient to make you compliant.
- Cost effective
- Quickly implemented (a matter of weeks usually)
- Reduce customer and agent fraud dramatically
- Increase security
- Streamline your payment processes, reduce transaction costs
- Remove human error
- Improve payment times
- Improve payment visibility e.g. using real-time reports
Features of our service...
- Complete, secure, hosted automated credit and debit card payment services
- Integrates with your existing telephony infrastructure
- ‘Agent-less’ credit card payments option
- Mid-call capability e.g. transfer by agent to solution, caller returning to agent after transaction
- Integrates with multiple card issuers
- Secure (encrypted) ‘Existing Balance’, ‘Balance Transfer’ and ‘PIN Issuance’ services also possible
- Payment Card Industry (PCI DSS) Data Security Standard compliant
- Remote call monitoring and secure recording of the voice - but not the tones while the card details are being entered.