Why is WorldPay putting so much pressure on us to become compliant?
WorldPay is required to provide full and detailed updates to Visa, MasterCard and Discover on merchants progress towards compliance. These reports are required monthly by Visa, quarterly by MasterCard and semiannually by Discover. The level of progress reported can significantly help to reduce the threat of Card Scheme imposed fines. Over and above this, there are compromises and fraud costs associated with any breaches plus of course the potential loss of reputation.
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