subject: Merchant Processing Services For A Demanding Retail Environment [print this page] When e-commerce became popular, a new level of complexity was introduced to conducting business, and merchant processing services evolved to meet the challenges. Online processing, single source e-commerce merchant account providers, and technology firms all raced to reach the market of online buyers and the stores they wanted to purchase from. Along with the explosion in online business came new technologies, new data security threats, new methods of payment, and new customer expectations for response time and flexibility.
Recently, just when it seemed as though merchant credit card processing could not become any more complicated, it has. Mobile computing, which is poised to explode in popularity in the next year or two, will present merchants with new challenges and opportunities in coming to grips with a new merchant environment, especially in the area of data security. New processing capabilities are required for people who want to purchase their products from a mobile device, such as a cell phone, netbook and laptop. Ensuring the security of their buying and transaction process is critical to keeping businesses afloat and credit card information secure.
Maintaining payment security is and will continue to be imperative for merchants of all sizes. PCI (Payment Card Industry) Compliance requires merchants to maintain a high level of security to protect the credit card and personal information of customers. PCI DSS (Payment Card Industry Data Security Standards) are established on an annual basis and are monitored by the PCI SSC (Payment Card Industry Security Standards Council), an independent group founded in 2006 by the major credit card companies.
PCI DSS standards have become more complex over time, making it more difficult for merchants to remain in compliance. As a result, merchants have partnered with merchant processing services providers with the proper technology infrastructure and expertise to manage credit card processing and maintain full adherence to standards.
Utilizing a payment processing partner not only ensures a high level of data security, it greatly simplifies the PCI DSS audit process for merchant credit card processing. If a merchant maintains its own payment system, it must complete a costly, highly detailed and complex audit on an annual basis. PCI rules apply to all merchants, regardless of size, that process cardholder data.
Paradoxically, as the credit card processing world has grown in complexity, the availability of full service merchant processing services providers means that from the merchant perspective, payment issues can be exceedingly simple. This can prove to be a great advantage for merchants, allowing them to focus more attention on the core issues of their business.
