AIB Merchant Services believe in educating and informing our Merchants and business customers about compliance issues that may affect them when accepting credit and debit card payments. We are committed to adopting the latest security standards to prevent fraud and minimise risk and offer you support with PCI DSS (Payment Card Industry – Data Security Standard) through our dedicated risk team.
PCI DSS is the security requirements for Merchants and card processing service providers, who store, manage or transit Cardholder data. It is the uniform set of security standards that all the major credit and debit card associations have agreed will govern the protection of Cardholder information.
We support both Verified by Visa and MasterCard SecureCode. These programs have been set up by the Card Schemes to ensure security for Cardholders when they use their credit card online. The Cardholder must register with their respective Card Scheme. The Cardholder also provides an additional piece of information to verify that the correct person is making the purchase.
We do not mandate the use of 3D Secure for all of our e-commerce Merchants. However, we support our Customer in understanding and implementing the 3D Secure programme, where required.
The Internet has also changed the way many of us do business. Consumers can now quite easily purchase goods and services from anywhere in the world and businesses are increasingly recognising and harnessing the power of the Internet. We provide the facility to accept credit and debit card payments online through Internet Service Payment Providers who are fully certified with the Card Schemes to process Internet transactions.
Retail staff are the front line against Card fraud, and we are grateful for your help in taking steps to reduce it. Card fraud is a ‘double’ theft; against the rightful owner of the Card and against the Merchants that the Card fraudsters attempt to trick into supplying goods or services that will never be paid for.
Together, AIB Merchant Services and the Card Issuers are doing all we can to fight fraud by introducing security features and new checks.
This is the security requirements for Merchants and business customers and card processing service providers, who store, manage or transit Cardholder data. It is the uniform set of security standards that all the major card associations have agreed will govern the protection of Cardholder information.
Each of the card associations, including Visa and MasterCard, will continue to have their own security programs, but now you have a single security standard against which you can be measured.
A: In light of the following challenges, it is now more important than ever that you ensure and maintain tighter security around operations and the storing and transmitting of Credit Card data.
A: Yes. Compliance is required of all Merchants and service providers that store, process or transmit Cardholder data. The requirements apply to all payment channels, including retail (bricks and mortar), mail/telephone order, and e-commerce.
Specific requirements vary depending on the actual number of transactions processed.
A: If you do not comply with the security requirements of the Card Associations, your business may be at risk of compromise. At this point, not only could your business be adversely impacted by loss of critical systems, but could also be subject to significant potential non-compliance fine assessments.