Merchant Services Supplies Top-Level Security and Compliance Solutions
Data Security that follows PCI-DSS + VISA + MasterCard top-level certification; with enhanced physical security with both physical and electronic separations.
Merchant Services LTD is in compliance with all industry standards including: Cardholder Information Security Program (CISP), Payment Card Industry (PCI) Data Security Standard (DSS). With over a decade of experience Merchant Services LTD is security hardened, using multiple geographically disparate Data Centers to process payments.
Merchant Services LTD provides top of the line transaction level security, through its cutting-edge TransArmor Solution.
So What is The TransArmor Solution?
TransArmor is a dual-layered payment card security solution that combines software- or hardware-based encryption with tokenization technology. TransArmor secures the transaction from the moment of swipe – prior to transmission and throughout the payment process - with encryption and prevents card data from entering the merchant’s card data environment (CDE) by replacing the primary account number (PAN) with a random-number token.
How does TransArmor Work?
- Consumer presents card to merchant
- Card Data is encrypted and transmitted to First Data front-end
- First Data front-end decrypts the data payload
- Card data is sent to issuing bank for authorization and, in parallel, tokenized
- Token is paired with authorization response and sent back to the merchant
- Merchant stores token instead of card data in their environment and uses token for all subsequent business processes
Benefits of using TransArmor protected services
- The necessary third party tools are provided to ensure merchant compliance
- Solutions designed by security experts specifically to meet the needs of our customers
- Online access lets you utilize tools to achieve PCI compliance anytime
- Comprehensive support including online and via chat, email and phone
- Offers integrated scanning for merchants that are required to pass quarterly scans to achieve PCI DSS compliance
There has been a lot of mention of PCI, so what is it?
Payment Card Industry (PCI) Data Security Standards
The PCI Data Security Standards are association (Visa®/MasterCard®) and industry mandated requirements for handling of credit card information, classification of merchants, and validation of merchant compliance. Merchants are responsible for the security of cardholder data and must be careful not to store certain types of data on their systems or the systems of their third party service providers. Merchants are also responsible for any damages or liability that may occur as a result of a data security breach or other non-compliance with the PCI Data Security Standards.
To whom does the Payment Card Industry Data Security Standards Compliance Program apply?
The program encompasses all merchants and third party service providers that store, process, or transmit cardholder data.
What are the benefits of being in compliance with the Payment Card Industry Data Security Standards?
It is good business practice to adhere to the PCI standards and protect cardholder information. Additionally, Visa, MasterCard, and Discover® Network may impose fines on their member banking institutions when merchants do not comply with PCI Data Security Standards. You are contractually obligated to indemnify and reimburse us, as your acquirer, for such fines. Please note such fines could be significant, especially if your business is compromised and you have not been validated as compliant.
How is a merchant's compliance classification level determined?
A merchants’ compliance classification level is determined by annual transaction volume. The volume calculation done for you will be based on the gross number of Visa, MasterCard or Discover Network transactions processed within your merchant account. However, it will not be based on the aggregate transaction volume of a corporation that owns several chains.
What is a "High Risk" merchant?
Currently, merchants that are known to use non-compliant payment applications (applications known to store magnetic stripe, Cardholder Verification Value (CVV), or Cardholder Verification Value 2(CVV2) or Card Validation Code 2 (CVC2) or Card Identification (CID) fall into this “High Risk” category.
Can my compliance requirements change?
Yes. As your transaction volume changes, and as association and industry rules change, your compliance requirements may change. It is your responsibility to be continuously aware of the data security requirements that currently apply to you.
How is adhering to data security and PCI compliance important to my business?
Any organizations handling credit or debit card transactions much be PCI compliant. Gone are the days of a minimum number of transactions needed. Businesses that are not compliant may be fined $5,000 to $100,000 per month by banks, card companies or other institutions. Finding a compliant payment processor and payment processing provider is the best way for merchants (especially those in eCommerce) to protect themselves. Reducing the risk of a data breach due to no payment data being store or transmitted through your systems.
With so much information to consider when it comes to the security of your business and your customers, leave it to the professionals at Merchant Services LTD to ensure your daily transactions are safe and secure.
