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VISA USA GIVES ACQUIRERS DEADLINE TO SUBMIT PCI PLANS FOR LEVEL 4 MERCHANTS
Merchant acquirers working with Visa USA have until July 31 to submit a summary of
their plans for small-merchant compliance with the Payment Card Industry
data-security standard. Those smaller, so-called Level 4 merchants, which process
fewer than 20,000 card transactions per year, have accounted for 80% of the known
data compromises since Jan. 1, 2005.
Visa wants acquirers to detail how they will
identify, prioritize and manage overall risk among Level 4 merchants. Separately,
Visa and the National Federation of Independent Business are teaming to offer the
federation's approximately 350,000 members free data-security information. Visa is
placing the highest priority on ensuring small businesses are not retaining
prohibited cardholder data, such as magnetic stripe information, after a transaction
has been authorized.
Scheduled to launch Aug. 1 on the federation's Web site, the
service will include educational materials and tools, such as a federation-developed
booklet on data security. The booklet incorporates security information from Visa
but uses words that are easier for individuals not familiar with the payments
industry to understand, a federation spokesperson tells CardLine sister publication
ISO&Agent Weekly. The Washington, D.C.-based trade group also is considering
producing Web seminars or presentations that can be used locally to educate
small-business owners, the spokesperson adds.
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