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That’s where Stax comes in. Revocation of CreditCard Processing Privileges If a business consistently fails to comply with PCI standards, the processor or acquiring bank may choose to terminate their merchant account. But here’s the good news: the right payments processor can help keep your cybersecurity ducks in a row.
The PCI SSC is a group consisting of the five biggest paymentcard brands—American Express, JCB International, Discover Financial Services, Visa, and Mastercard. Before 2004, creditcard companies had their own set of rules for cybersecurity. In 2022, 31% of all payments were made using creditcards.
PCI DSS compliance, a global framework, mandates specific requirements and best practices for maintaining creditcard data security. Implementing surcharging involves analyzing pricing strategy impact, communicating policies effectively to customers, and reviewing technical considerations, including cybersecurity measures.
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