In the new, digital era of payment management and shopping, protecting customer data is a top priority. While the news may bring new, breaking headlines about stolen or lost data from large corporations, every business can take the steps necessary to secure sensitive data.
PCI DSS Compliance
PCI DSS stands for “Payment Card Industry Data Security Standards.” These standards are set by card associations like Visa, Mastercard and American Express on the to ensure sensitive payment data is securely processed, transmitted and stored. The PCI Security Standards Council determines and sets these security standards.
It’s important that merchants comply with PCI standards, as violating them can result in hefty fines. The PCI DSS applies to any business or organization that has anything to do with a cardholder’s data – transmitting, processing, or storing it. So how can your business stay PCI compliant? That’s where Fattmerchant comes in.
Level 1 PCI Compliance
Fattmerchant is a Level 1 PCI Service Provider. Level 1 is the highest level of PCI compliance, and protecting sensitive data is a top priority at Fattmerchant. We offer the tools and insight needed to each one of our members so they can stay PCI compliant, avoiding those fines. We provide multiple tools to empower small- to mid-sized business to maintain their own PCI compliance through self-assessment questionnaires, partnership with Approved Scanning Vendors (ASV) and intuitive compliance portals. The Fattmerchant team is always available to help with this process.
An Approved Scanning Vendor performs scans on systems a service provider or merchant uses, looking for potential vulnerabilities that could lead to a data breach. There are a wide variety of ASVs that can help businesses and service providers become and stay PCI compliant, such as RSI Security, who leverage technology like tokenization in their approach. By using an ASV and becoming PCI DSS compliant, merchants can be confident both their data and their customers’ data is secure.
End-to-End Encryption and Tokenization
Besides PCI standards, Fattmerchant also takes a number of steps to secure cardholder data.
Card information is encrypted on all of our processing devices, and never stored after the transaction is completed. Fattmerchant’s state-of-the-art cloud architecture is constantly tested for vulnerabilities to ensure the safety and security of that sensitive data. And our end-to-end encryption prevents interception of data by third parties and uses modern tokenization services. This prevents third parties from not only intercepting data, but from viewing it as well.
Partner Data Protection
We take security seriously for all of our partners and their customers. As part of our commitment to our partners, our technology is backed by a team of experts who can assist you in PCI compliance, every step of the way. We’re also a payment facilitator, meaning your customers can be onboarded quicker with enhanced security for PCI compliance.
We only use PCI and Federal Information Processing (FIP) approved protocols, including exclusive use of the TLS1.3. This layered approach to security means you can accept and manage payments in one of the industry’s most secure environments.
For both customers and merchants, fraud is a common concern. Fraud prevention is an integral part of our extensive security measures for cardholder data. Fattmerchant’s proactive technologies monitor and investigates accounts for any possible unauthorized charges.
All of our programs are PCI compliant through our integrations with financial partners, with “Know Your Customer” and Customer Identification Program checks to verify merchants, their businesses, and their funding accounts. Our team works tirelessly to monitor and prevent fraud for all of our merchant members.
The GDPR, or General Data Protection Regulation, is a law passed by the European Union to protect customer data. The law went into effect May 25, 2018, and violation of the GDPR can result in steep penalties. While the GDPR only applies to constituents of the EU, Fattmerchant has aligned itself where appropriate as part of our commitment to transparency, data protection, and accuracy.
At Fattmerchant, we’re committed to securing sensitive cardholder data. As a Level 1 PCI Service Provider, we take the utmost care in protecting this data. We use a host of security measures to prevent fraud and ensure PCI compliance across all of our products. Our team will always be available to assist you in staying within PCI standards. In the new digital age of payments and shopping, security is top of mind for businesses. With Fattmerchant, you can rest easy knowing your data is protected and secure.
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