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Security a major concern in card industry

July 4, 2012

Credit card security is one of the most important aspects of any successful merchant services operation. International Standards Organizations have a responsibility to achieve Payment Card Industry (PCI) standards.

Credit card security is one of the most important aspects of any successful merchant services operation. International Standards Organizations have a responsibility to achieve Payment Card Industry (PCI) standards.

In some cases, consumers use either debit or prepaid rewards cards to purchase goods and services. In a recent article for the Cleveland Plain Dealer,  Teresa Dixon Murray writes that if a person writes his or her signature on the back of one of these rewards cards, then the cashier will not ask for an ID.

One of the reasons for this is because many merchant service providers don’t want to make consumers engage in an extra step.
  
“The reason merchants don’t require ID: Using plastic is supposed to be easy for consumers, Visa and MasterCard say,” she writes. “Requiring ID would slow things down.”

There have been instances where a lack of ID verification caused issues. In one of the largest recent breaches, GlobalPayments admitted that hackers stole 1.5 million credit card numbers. If precautions, which may include PCI compliance, aren’t followed then the ramifications can be severe.

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