Prevent Security Breaches
Security breaches involving consumer payment information could cost you a fortune. Under the new standards, merchants are assessed a compromise fee of up to $25,000 per occurrence. You are currently liable for all costs incurred by the card-issuing bank for:
- The Amount of the Fraud
- The Reissue of New Cards to Consumers
- Charge-Back Fees
- Any Remediation or Additional Audit Costs
Serious Risks
Analysts report that merchants will see liabilities in the amount of $100 per compromised account. A breach of 1,000 cards could easily cost you $150,000 or more.