(Aug. 21/15) Is your customer’s credit card information at risk? If the answer is yes, penalties from your credit card processor could be enormous. Banks can be fined $5,000 to $100,000 per month for Payment Card Industry (PCI) compliance violations, and they usually pass the fine down to the merchant.
As a payment card merchant, you need to protect your customers’ personal and financial data. To minimize your risk, make sure your business is PCI-compliant. PCI compliance is highly technical and involves communication between your in-house POS system and your credit card processing terminals. Work closely with your software vendors and credit card processors to get the answers you need.
To read about the twelve best practices for PCI-compliance, go to https://www.restaurantscanada.org/en/Business-Tools/article/12-best-practices-for-pci-compliance-36874
If you are a Restaurants Canada member and feel you have been wrongly penalized for a PCI compliance breach, contact Restaurants Canada and register your compliant with the Financial Consumer Agency of Canada (FCAC) at: 1(866) 461-3222.