What is the PCI fee?
PCI is an abbreviation for Payment Card Industry. This is the industry that supplies service to the merchants which allows the user of credit card payments. The fee associated with PCI is for the Data Security Standard (DSS) requirements ensuring companies maintain a secure environment when storing or transmitting credit card information. A succinct definition - PCI DSS is a set of requirements for enhancing data security.
If your business accepts or processes payment cards, you must be compliant with PCI DSS regulations. Many merchant processors charge a fee to merchants and small business owners labeled PCI fee. This fee is used to cover any additional costs for the merchant processor to meet the credit card association mandates.
Is my merchant processor using the PCI fee as another profit center?
Many believe that the merchant processors are using the PCI compliance standard as a way to increase their revenue stream. PCI fees have shown up on monthly statements charging up to $300. Merchants and business owners have little information and therefore wind up paying the fee. We think it is crazy to pay for credit card association mandates when all that is usually required is completing a form.
Merchants and small businesses are now more carefully scrutinizing their charges. Savvy merchants and business owners who are evaluating and comparing merchant processor solutions have found considerable savings. We would be glad to talk to you about your merchant processor options. Add your name to the list of savvy merchants and business owners by filling out and submitting your information today.
We think it‘s crazy to pay for credit card
association mandates. That‘s why we made it FREE!
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