Payment Application Best Practices and You
Each year merchant and financial institutions lose BILLIONS of dollars to credit card fraudsters and identity thieves.
"The foodservice industry has the highest level of security compromise cases than any other industry, with 62% of all foodservice operations reporting security comprise cases." - Ambiron TrustWave
PABP (Payment Application Best Practices) are standards set out by Visa governing POS software applications that store, process and transmit cardholder information.
Halo™ POS is PABP Compliant
PABP compliancy is an element of Payment Card Industry-Data Security Standards (PCI-DSS). PCI has 12 requirements that detail the standards for all merchants on how to securely store and handle credit-card information. These standards have been mandated by all the credit card providers and all merchants must be compliant by 2010.
The consequences of not operating a PABP compliant system are severe.
Without a PABP compliant POS, you are putting your business at risk of receiving thousands of dollars in fines.
In July 2010 merchants that have not complied with PCI-DSS will not be able to process integrated credit transactions through their POS.
Merchant Responsibilities
- Implement a PABP compliant POS, in a secure environment
- Comply with the PCI-DSS standard by completing the PCI-DSS Self Assessment Questionnaire annually
- Have networks tested regularly by subscribing to a Visa Approved Scanning Vendor’s services.
PABP System Features
- Special handling of sensitive credit card information
- Deletes historical data from credit cards
- Encrypts data
- Maintains access controls
- Maintains an audit trail of all actions taken
Why PABP?
To secure customers credit card information and reduce the risk of credit card breaches. Credit card fraud occurs in many ways, including but not limited to thieves gaining access to sensitive data that is stored insecurely and unencrypted.
If a breach occurs, or card holder data is suspected to be compromised, the merchant is liable for any audit fees & fines. The total cost of a breach to a level 4 merchant can be greater than one hundred thousand dollars not to mention the negative PR caused from media attention.
For more information, visit Visa’s website or read the PCI-DSS requirements.
