Are you PCI (Payment Card Industry) Compliant?
Kraig Speckert, President - The Payment Exchange

By July 1, 2010 nearly all merchants will be required to validate the method by which they take credit cards.

Data security affects every business. Every merchant and consumer has had some experience with PCI Data Compliance.  In the past, full credit card numbers were printed on receipts providing thieves with easy access to personal data. PCI Data Compliance regulations led to the truncation of the full card number, and now receipts only show the last four numbers of a customer’s card.

Recently privacy concerns have mounted as large scale data breaches hit mega banks, credit card processors and retailers. The PCI Council, with representatives from the major credit card brands, Visa, MasterCard, Discover and American Express, have stepped up their security requirements for all businesses. Escalating complaints regarding the expense associated with accepting credit cards have led to PCI Data Compliance initiatives requiring merchants to validate their method of accepting credit cards.  Once validated a merchant is less likely to unknowingly disseminate credit card data. The validation method will help in the reduction of fraud, which reduces the risk and the overall expense to merchants accepting credit cards.

Today only a small segment of merchants who accept credit cards are exempt from PCI Data Compliant regulations.  However, compliance is recommended by the Visa and MasterCard association for ALL merchants and eventually even those currently excluded will be forced to comply.

Getting on board now will protect your data, ensure that you are secure and provide peace of mind for you, your business and your customer’s credit card data. To learn how you can become PCI Data Compliant today, contact WCA Member Benefit provider The Payment Exchange at 916-635-8800 and ask to speak with Kraig Speckert, president of The Payment Exchange, or visit our Web site at www.thepayx.com. 

This month's Hot Topic is the Federal Form I-9. If you haven't been using this form for employee verification, you are taking a chance on receiving heavy fines and possible closure. This form has been in play since 1986 and a new form was made available in April of this year. This form is free and there is no filing fee. For more information please use the links provided.

• US Department of Homeland Security Q&A | download pdf
  
• Q&A | Web link
  
• Form I-9 | download pdf
  
• Form 1-9 Compliance group | Web link
  
• Immigration and Customs Enforcement (ICE) | download pdf
  
• California Employers Association | Web link
• DHS Announces ICE | download pdf
• How to Conduct Your Own I-9 Audit | download pdf
• Legal Article Regarding Form I-9 | download pdf