Why is PCI Compliance Important?
Your data is always at risk for breaches and the costs can be significant if your information is compromised. In order to demonstrate that your systems are secure, you have to complete and pass a PCI audit. Failure to do so can result in losing the ability to receive credit card payments and heavy fines. Achieving PCI compliance applies to any merchant that has a Merchant ID (MID), regardless of size or amount of transactions.
Ultimately, PCI DSS requirements apply to any customer who pays the merchant using a credit or debit card. Compliance with Payment Card Industry Data Security Standard (PCI DSS) means that your systems are secure and your clients can feel safe knowing their payment card information is secure. In a time where millions of people are victims of identity theft each year, establishing trust with your clients is critical.
Within PCI compliance, there are 4 compliance levels where any merchant can:
- Processes over 6 million Visa transactions per year
- Processes from 1-6 million Visa transactions per year
- Processes 20,000 to 1 million Visa e-commerce transactions per year
- Processes less than 20,000 Visa e-commerce transactions per year
If you don’t attain compliance, one small data breach can damage your reputation and hinder your ability to conduct business effectively in the future. Additionally, it could lead to heavy fines that destroy your business.
Luckily, Third Wave’s Credit Card Processing solution is the first SAP add-on that is PCI PA-DSS certified. Third Wave provides quick and seamless credit card processing within SAP Business One while saving you time and money with each transaction your perform. With Credit Card for SAP Business One, you can be assured that any transaction you make is done securely and safely!
Watch the video below to get a better look at Third Wave’s PCI Compliant Credit Card Processing solution!