What Every Merchant Should Know by Payex

Non PCI Compliance Fees: Why you should take a closer look at your monthly processing statement

August 6th, 2009

Many processors are now charging merchants monthly fees for not being PCI Compliant. A large amount of business owners are not even realizing they are being charged this monthly fee because they have not been notified and many do not receive paper statements of their bill and tend not to review the electronic statement in its entirety.

What it comes down to it, the alternative for not being PCI Compliant is a $20-$30 charge per month due to your business not having the appropriate equipment and/or software to be protected from potential fraud. If you complain about this charge, many processors are requiring businesses to install a PC based scanning software that is supposed to make the business PCI compliant and then the monthly fee will disappear. Well, many say that this “compliant software” is a hoax and no computer software will protect you from a data loss.

So, be sure to check your monthly statement to see if your business is being charged this fee and if they suggest software installation. If they do, give it a second look and really dig deep into what this software program will do and if it’s legit.

If your current processor isn’t answering the questions you’re asking or if you’re skeptical about the fees they incur and resolutions they are suggesting contact us.

All processors do not charge a fee for not being PCI compliant. Payex is a merchant processor that does not incur these absurd fees. If you would like an explanation regarding your business’s statement and if you should be paying these fees or not, feel free to contact us and we’ll be happy to answer any questions you may have.

Also, here is a list of informational websites that may be useful to you:
http://usa.visa.com/merchants/risk_management/cisp.html
http://pcianswers.com/
http://www.mastercard.com/us/sdp/index.html
https://www.pcisecuritystandards.org/

Entry Filed under: Advice