July 9, 2015
Here is a exerpt from my book, Retailers Guide to Merchant Services,
“To protect cardholder data, the PCI Data Security Standard
Compliance13 was created in 2006. This organization requires merchants and other organizations to follow certain guidelines in collecting and storing, processing or transmitting cardholder information.
This is an ongoing process which involves:
- Assessing cardholder data and the business owner’s IT assets and business proves to ensure there are no vulnerabilities in the storing of cardholder data. There are training videos14 to help the small merchant to understand his/her responsibilities;
- Remediation in not storing cardholder data unless it is absolutely necessary;
- Reporting, which involves compiling and submitting compliance records and reports to the banks and card brands with which the business is authorized to do business.”
The book is available free on Amazon. Get your copy today!
The book is also available at your local library on e-Zone. Newport, Middletown, and Portsmouth, Rhode Island libraries have e-Zone installed on their websites.
May 4, 2015
For anyone who is currently operating a storefront or who is considering starting a business, it is important to understand the ways in which one may collect money for selling products and services, whether on the Internet or at the storefront. Making the right decision will help to increase the business profits.
When developing a business idea, it is important to include plans for managing the collection of the money to ensure that the business is making the maximum amount on the products and services while keeping the costs of doing business as low as possible. Therefore, it is best to research all the options and the costs involved.
In this day of digital products, it is amazing how many business owners still insist on accepting cash only for their businesses. By doing so, they are overlooking the fact that customers like choices and their competitors are constantly seeking ways to have a competitive advantage over other businesses. We cannot afford to overlook the advantages to accepting credit cards at the place of business, especially if we have a quality product or service to offer consumers.
I have recently published a new book for startup businesses about the credit card processing industry with the latest developments on the laws regarding credit card acceptance at storefronts and online. The book, The Retailer’s Guide to Merchant Services, includes information about rates, fees, advantages, and disadvantages of collecting credit cards. Join my mailing list.