There’s an important fact any Independent Software Vendor (ISV) that accepts credit card payments needs to know: PCI compliance isn’t optional. For this reason alone, ISVs should ensure they are taking the proper steps to be PCI compliant so their business and customers are secure.
Of course, knowing that PCI compliance is a requirement doesn’t make it less complicated for businesses to understand. Creating an easy payment experience for customers is vital to continued success, but PCI compliance is key to upholding data integrity for your business and your customers. We’ve broken down four things ISVs need to know about the PCI security requirements.
PCI Compliance is a Benefit for Your Business
ISVs might consider the term “PCI Compliance” a pesky requirement that they’d rather not think about. The most important thing to keep in mind are the benefits that come with adhereing to these regulations. Credit card breaches can cost your business millions of dollars in expenses including bank and legal fees, customer and sales losses and even damage your brands reputation.
Avoiding data breaches will help to maintain customer trust, while also provided protection for your business. PCI Compliance was created by the major payment card brands formed the Payment Card Industry Security Standards Council (PCI SSC) in response to a growing number of data security breaches.
PCI Compliance Doesn’t Have to Be Complicated
PCI Compliance proactively protects your business by preventing credit card fraud from occurring. In an era of rising data breaches, ISVs must find an expert to help them navigate the inner-workings of achieving full PCI compliance. The right payments partner will help streamline your processing needs and help you get the payment technology you need quickly and without any unnecessary friction.
Instead of tackling this security requirement alone, ISVs should focus on doing what they do best: growing their business and helping their customers. Leave payment security to the experts and take the step toward achieving complete PCI compliance. With additional features like credit card tokenization, point-to-point-encryption (P2PE) and enhanced fraud management tools, goEmerchant helps ease the PCI burden for ISVs.
ISVs Can Easily Reduce PCI Scope
There are a number of reccomended methods to protect your customer data. For example, working with goEmerchant’s integrated payments technology gives ISVs access to credit card tokenization and Point-to-point encryption (P2PE) features that protect your customers from potential fraud and reduces PCI scope. Furthermore, our compliance specialists are trained on how to make sure you are always protected and fully compliant with the latest PCI DSS requirements.
Another method is by taking advantage of hosted payment pages to ensure a safe payment environment for your customers. This streamlines the payment process and protects customer card data. Hosted payment pages prevent credit card data from being stored to avoid credentials from being breached.
Reducing your PCI scope enables you to give up worrying about your internal security protocols and focus more on what you do best — keeping your customers happy.
Staying PCI Compliant Isn’t a One-Step Process
The benefits of following PCI Compliance for ISVs wanting to accept credit cards are numerous. Adhering to PCI standards are equally as important as maintaining a secure payment processing environment. Letting a payments partner handle your PCI needs will ensure your business is consistently following the necessary and evolving requirements.
With the many moving parts that come with PCI compliance , it’s best to leave it to a team of experts as to avoid unnecessary penalties that come with not fully protecting your payment data.
At goEmerchant, that’s exactly what we specialize in – keeping you and your customers’ data safe and secure. Our compliance specialists are trained to keep ISVs protected and fully compliant with the latest version of PCI DSS.
Are you ready to make sure you’re compliant? Reach out to our team today to learn more about how we can help you achieve that goal.
