Think your online business is too small to be concerned about PCI Compliance? Think again.

Every business accepting credit cards is responsible for meeting Payment Card Industry Data Security Standards (PCI DSS). However, since 2Checkout is the merchant of record on each sale you make, we take full ownership of the security requirements, managing PCI for you free of charge. How important is this value-added service? You make the call…

Javelin Strategy and Research recently published a report on data breach measuring consumers’ feelings about security. The study suggests over 75% of consumers will stop shopping with businesses regularly plagued by data breaches. With a heightened concern for identity theft, consumers feel they have too much to lose… and so does the credit card industry.

The study also suggests, “retailers and merchants are viewed by 63% of consumers as the least secure when protecting consumer’s data, compared with processors (16%), card networks like Visa or MasterCard (5%) and issuers (5%). When little is known about a data breach, half of all consumers automatically consider the merchants where they shop to be at fault.” In other words, no matter whose at fault, there is a good chance consumers will point their fingers at you!

Correctly following PCI standards can be very expensive and time consuming for small businesses lacking the resources and technical knowledge to handle data storage to spec. However, it is an imperative part of doing business and based upon the results of this study, even more important to your customers.

The bottom line is, every business accepting cards must follow PCI standards. However, since 2Checkout takes full ownership of these requirements you can remain focused on marketing and selling more products instead of being concerned about remodeling your coat closet into a makeshift, password protected server room.

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