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Why is Processing Point requiring their merchants to be Payment Card Industry Data Security Standards (PCI DSS) compliant?

April 26, 2017card Data Industry Merchants payment point requiring security Standards

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Why is Processing Point requiring their merchants to be Payment Card Industry Data Security Standards (PCI DSS) compliant?

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PCI DSS Compliance has been mandated by the PCI Security Standards council which includes the 4 major credit card associations (Visa, MasterCard, AMEX and Discover). In an effort to reduce fraud and the related cost associated with data breaches, upcoming mandates will require all processors, on an annual basis, to ensure merchant’s businesses are compliant, including the use of compliant payment applications by July 1st, 2010. Processing Point is required to report any non-compliant merchants to Visa & MasterCard on a quarterly basis.