Does your business still rely on PCI 3.X EFTPOS devices? In this article, we'll delve into PCI compliance and the importance of staying secure in the face of changing industry standards.
Why PCI 3.X Compliance Matters
Understanding the Risks
Non-compliance poses significant risks to your business, from potential data breaches to compromised customer trust. As technology advances, so do the tactics of cybercriminals. Staying compliant ensures that your payment systems are equipped to withstand modern security threats.
Protecting Customer Data
Your customers trust you with their sensitive information during transactions. PCI security standards are designed to safeguard this data, ensuring that every electronic payment is a secure and seamless experience for both you and your customers.
Avoiding Disconnection From Your Payment Network
While merchants won't incur penalties for non-compliance, there's a crucial risk of disconnection from the payment network. Imagine if your business was left without a functional EFTPOS terminal – this scenario can be avoided with timely compliance.
Who Decides the Sunset Dates?
The sunset dates, determining when a payment device or software version becomes non-compliant, are set by Payments NZ, the governing body overseeing the payment system in New Zealand. These dates are strategically assigned to ensure the entire payments ecosystem stays at the forefront of security by continuously updating payment technology to meet evolving industry standards.
How to Ensure Compliance:
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Assess Your Current Setup: Check your EFTPOS terminal's PCI version to determine if an upgrade is necessary.
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Contact Your Terminal Provider: Reach out to your current terminal provider or contact us at 0800 EFTPOS to discuss the upgrade process.
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Stay Informed: Regularly check for communications from your terminal provider and stay informed about the latest PCI 3.X compliance updates.
Good news for Eftpos NZ customers!
We guarantee compliance for all our subscription customers. As an Eftpos NZ terminal customer, your payment solution is either already fully compliant, or you will receive a new, compliant EFTPOS terminal free of charge ahead of the deadline date. We've got you covered! It's all part of the service.
In a rapidly changing payment landscape, compliance isn't just a requirement, it's a proactive step to fortify your business against potential risks. Contact us to upgrade your solution today!
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