The nightmare of Target’s data breach during the holiday season a few years ago still haunts businesses today. The aftermath of severe fines, loss of customer trust and a seriously bruised reputation – not to mention the reported $61 million payout – leaves corporate executives shaking in their boots when thinking about their own company’s payment security plans. (http://www.pymnts.com/news/security-and-risk/2016/three-years-after-the-target-data-breach/) PCI Compliance in your contact center is a necessary and required part of doing business when handling credit cards, regardless of the processing method.
Just looking at the evidence can scare any business into making sure they are PCI compliant.
- Companies are charged $50 to $90 in fines per cardholder when an account is compromised. Often the company has their ability to accept cards suspended.
- 42% of contact centers affected by a data breach report a loss of $250K with 27% over $1M.
- Fines for noncompliance can vary between $50,000 and $200,000 per violation.
Following PCI security standards makes good business sense. Guarding against incidences of fraud by removing sensitive cardholder data from your network and applications assures a level of confidence from customers. The alternative of losing credibility, and in turn losing business and dollars, is unwanted and unnecessary.
Keeping customer information confidential and secure is an integral part of how a business can offer the BEST customer experience. The security of cardholder data helps preserve the loyalty, trust and long term success of all businesses who process card payments.
Waterfield Technologies offers a PCI Secure Payment solution for contact centers that can easily installed off the shelf or customized for your business. For more information check out our Website or Contact Us today.