Retail Technology Experts Blog






PCI Deadline lapsed on July 1st – Are you Compliant?

July 12th, 2010

As part of our commitment to you, Retail Technology Experts has been continually providing important information regarding the numerous regulations and requirements established by the Payment Card Industry (PCI) known as PCI-DSS. We strive to help you understand these requirements and achieve compliance for your retail business.

As of July 1, 2010 all retailers are required to comply with PCI standards for both software applications and PED (Pin Entry Devices) hardware. Software applications that allow the acceptance of credit cards for payments will be required to be certified. This deadline makes retailers responsible for their operation’s compliance.

Am I at risk?

Any retailer not compliant with the PCI standards for the safe handling and storage of card data is at particularly high risk. For example, retailers using older, Non-PCI compliant, POS systems may be storing prohibited card data. Likewise, those who are not following best practices for maintaining a secure network, even if they are using a PCI compliant POS system, are also at increased risk.

What happens if I am not PCI-DSS Compliant?

1. As of July 1, 2010, all retailers are liable for card data thefts. This applies even if only a small number of cards are affected. By signing a credit card processing agreement, retailers agree with the card associations’ requirements for handling credit card data according to the PCI data security standards.

2.  Card data theft is costly and you may be fined. When a retailer’s location is determined to be a common point of purchase for stolen card data, the card associations order a forensic audit. This can cost the retailer up to  $15,000. Then, depending on the number of cards affected, and whether the retailer took the necessary steps toward PCI compliance, the card association(s) assess fines that can range from $50,000 to $500,000.

3. You may lose the ability to process credit cards. Losing the ability to accept credit cards could destroy a retailer’s business. Combined with loss of reputation and financial damages, the retailer could be forced to close.

What do I need to do to become Compliant? Take Action Now.

It is critical that you use a compliant version of Point of Sale (POS) Software. If you are currently running an outdated version you are not PCI Compliant. Credit card processing software as well as hardware must also be certified as compliant. In addition, you should also follow best practices for having a secure network. We urge you to take the necessary steps to avoid costly fines and liabilities that may harm your retail business.

Please contact us at 800.513.5917 at your earliest convenience to review your software and ensure that you are compliant with all requirements.

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