Don’t Let PCI Compliance Fines Ruin Your Business

July 26, 2012 · Posted in Business 

There’s been talk of non-PCI compliant fines since the standards were launched by the PCI Security Standards Council (PCI SSC) in 2006. PCI Compliance is very important and many businesses have suffered the consequences for not staying in compliance.

We’ve seen companies suffering from a breach, like TJX Corporation in 2007, pay out bucket loads of money in fines, law suits and replacement credit cards. The cost of the TXJ breach has been estimated in excess of $1 billion. But for years now, fines for non-compliance – as long as you don’t suffer a breach – have seemed to be a relatively faraway threat. Many companies may not even think that they need to be in compliance or that it is not a big deal.

In order to protect themselves from card data theft and achieve compliance, businesses are looking to available technologies that will help them satisfy the compliance requirements of the industry. One technology that has received growing attention is encryption. End-to-end encryption (E2EE), or point-to-point encryption as the PCI SSC dubs it, protects the sensitive cardholder data from card swipe until the payment processor.

Payment brands have the ability to fine acquiring banks up to $100,000 per month for non-compliance violations. These fees are then passed down by banks to non-compliant merchants. The potential costs associated with non-PCI compliance don’t just end with fines, credit card replacement and audit fees: costs can also come in the form of loss of business and revenue, brand damage, increased transaction rates or banks terminating their relationship with a merchant. Such penalties can be catastrophic to a small business.

Results of the Ponemon Institute demonstrate the growing awareness of the PCI DSS requirements, as well as the increasing effectiveness to drive the uptake of advanced technology to protect cardholder data. Don’t forget how important PCI Compliance is!

Looking to find the best deal on PCI Compliance, then visit to find the best advice on the PCI Compliance Standards for you.


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