31 Mar 2022 By PAYCEC
PCI compliance is a legal necessity, but some business owners wonder whether they can get around it - this is a risky and perhaps disastrous concept.
You put your clients and business at danger if you aren't PCI compliant.
Your firm could be subject to costly attacks and data breaches if you don't have PCI compliance in place.
However, fines are only the beginning of the harm inflicted by noncompliance.
You risk losing your merchant account if you aren't PCI compliant, which means you won't be allowed to accept credit card payments at all.
Your company could potentially be added to the Member Alert to Control High-Risk Merchants (MATCH) List, which will prevent you from opening a new merchant account for several years.
Furthermore, a data breach might cost you thousands of dollars in damages, lose your consumers' respect and trust, and ruin your brand.
Because there are numerous consequences for not being PCI compliant, it's always advisable to be as compliant as possible to prevent costly fines and other damages.
If you need further assistance or answer, please don't hesitate to contact us.
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