Credit card processing / PCI-DSS compliance and what you need to know as an IT reseller

To be competitive most businesses today must, as a matter of practice, accept electronic payments. Customers expect that their data will be protected from compromise and recent PCI-DSS compliance and legislative mandates require that merchants take active steps to secure transaction data. When electronic payment data is compromised, all parties suffer. The figures are astonishing; card fraud reached $22 billion in 2008 and continued to rise in 2009. The National Retail Foundation estimates more than $1 billion has been spent by merchants to comply with PCI-DSS requirements. Businesses that suffer a breach often incur significant fees and fines from the card associations, potential legal fees, and various costs associated with cardholder notification and re-issue costs. The average cost of a breach now exceeds $200 per customer record and the reputational risk to a breached merchant can be significant. Most merchants simply must find a way to accept electronic cards for payment of goods and services. In this podcast Caleb Barlow is joined by three experts in the payment card industry - Al Nickles from CFXWorks, Jeremy Krahl and Lewis Pergament both from Elavon. We will discuss the opportunity for you as a reseller to help merchants mitigate risk and manage their costs. Presentation can be found at http://www.cfxworks.com