By Tedd Huff, Director of Product Management, TSYS' Merchant Segment
Payment processors can work with their acquirers and independent sales organizations (ISOs) to help minimize the threat of data breaches. Here are five ways:
Understand the environment to make sense of what the market has to offer to assist with minimizing data breach threats. This requires the processor to understand in greater detail the environments in which their acquirer and/or ISO merchants are operating, and offer new solutions that meet a variety of needs and abandon the one-size-fits-all approach to security. A multi-layered solutions approach is a great example of how to serve a broad base of merchants.
Learn why being PCI compliant and choosing the right partner to provide solutions to assist with achieving and maintaining compliance is of paramount importance. Achieving and maintaining PCI compliance requires a merchant’s continued active focus and commitment. ISOs and acquirers who market their products as PCI compliant need to emphasize to their merchants their continuing efforts to remain compliant. Also, it is important to keep in mind that no solution can remove a merchant completely from the need to be PCI compliant, realizing there are some unpredictable circumstances that can put cardholders and merchants at risk even with a validated solution.
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