NoblePay introduces the PCI DSS Compliance Protection Plan for Credit Card Processing Basics

Credit card processing basics being PCI DSS Compliant is now mandated by the card associations to help protect customers from having their sensitive data compromised.

It’s also designed to make sure merchants who are handling sensitive data for credit card processing basics are doing so in a responsible manner.

Operating without being compliant in credit card processing basics exposes you & your business to potential fines and loss of the ability to accept credit cards.

While being PCI DSS complaint in credit card processing basics helps protect your business it doesn’t guarantee you won’t be breached.

All processors including NoblePay have created a PCI compliance program for credit card processing basics to help their merchants become compliant.

We have a live support staff and have contracted with the CISO Group to help us walk you through the process.

Others in the payments industry have simply licensed web based compliance technology in credit card processing basics to walk you through the survey required to become compliant in line with credit card processing basics.

Some charge for this service, others do it for free but all they’re doing is providing you with a certificate of compliance in credit card processing basics.

Frankly that’s not good enough based on credit card processing basics!

Being PCI DSS compliant in credit card processing basics helps protect your business but it doesn’t guarantee you won’t be breached (meaning from viruses, malware and other methods used to steal credit card data).

Obtaining your PCI DSS certification in credit card processing basics is only the 1st step in protecting your business.

This where the NoblePay PCI DSS Compliance program for credit card processing basics exceeds industry standards.

We’re not interested in collecting compliance in credit card processing basics we’re interested in protecting your business!

Our PCI Department will not only assist you with becoming compliant with credit card processing basics we’ll provide you with a protection plan which includes insurance should your business ever become breached.

Program Overview in Credit Card Processing Basics

The PCI Protection Plan for Credit Card Processing Basics is a new and unique indemnification program acquired to reduce monetary exposure in the event of a data compromise of a merchant account.  The PCI Protection Plan for Credit Card Processing Basics is designed specifically to meet the expenses resulting from a suspected or actual breach of credit card data from a merchant account.  The program is offered exclusively by Royal Group Services (www.royalgroupservices.com) and underwritten by Great American Insurance Group (www.greatamericaninsurance.com), a financially strong insurance organization whose insurance companies are rated “A” by independent third party rating agencies familiar with credit card processing basics.

The Program for Credit Card Processing Basics Covers

The Program Limits

Each merchant account is protected up to a maximum of $50,000 and there is NO deductible.

Frequently Asked Questions

Why do merchant accounts need this coverage for credit card processing basics?
Based on credit card processing basics, if a merchant account suffers a suspected or actual data breach, the business responsible for the merchant account could incur thousands upon thousands of dollars of unexpected costs in the form of audit expenses, card monitoring and replacement expenses, and fines in accordance with credit card processing basics. These costs could significantly affect revenue…and even jeopardize the existence of a business. The PCI Protection Plan for Credit Card Processing Basics reduces a protected merchant account’s monetary exposure when a presumed or actual data compromise occurs, thus providing peace of mind!

What insurance company underwrites this program?
Great American Insurance Group (www.greatamericaninsurance.com) has collaborated with RGS to create this program in credit card processing basics. Great American is a well-established, financially strong insurance group whose insurance companies hold “A” ratings from independent third party rating agencies familiar with credit card processing basics.

What is the the protection limit?
The maximum protection for credit card processing basics is $50,000 per incident, for each merchant account.

Is there any deductible?
There is NO deductible!

If a merchant agreement has multiple merchant accounts, is each account protected for $50,000
The PCI Protection Plan for Credit Card Processing Basics provides protection on a per-merchant account basis but an incident and annual limit of $500,000 does apply to a merchant agreement with ten or more protected merchant accounts.

Can any merchant account qualify for this program?
Any Level 2, 3 or 4 merchant account is eligible for Credit Card Processing Basics program, provided it has not already suffered a data compromise. Level 1 merchant accounts are not eligible for this protection.

Must a merchant account be PCI DSS compliant in order to be protected under the Program?
No. However, if a merchant account experiences a breach, the merchant account must become compliant in credit card processing basics before that merchant account can participate in (or re-enter) the Program.

Level 4 merchant accounts aren’t breached often are they?
Absolutely, they are, based on credit card processing basics! Nearly two thirds of all breaches occur at Level 4 merchant accounts. In fact, Eduardo Perez, VISA USA’s Vice President of Payment Systems and Risk, stated at the 2007 Electronic Transactions Association trade show in Las Vegas, “Hackers are concentrating on the smaller merchants… that’s where we see the greatest vulnerability.”

If the transaction processing system used with a merchant account does not store magnetic stripe data, can it still have a data compromise?
Yes! While it is true that merchant accounts that store magnetic stripe data are the most vulnerable, credit card processing basics show there are a number of other risks. For example, missing or outdated security patches, using vendor supplied default settings and passwords, SQL injections by hackers, unnecessary and vulnerable services on your servers, stolen receipts, stolen computers, employee theft, and skimming can all lead to significant data compromises and subject the merchant account to audits, card replacement costs, and fines; all found in credit card processing basics.

IF a merchant account is certified to be PCI DSS compliant in credit card processing basics. Does it still need to be in the Program?
Yes! Certification of PCI DSS compliance for credit card processing basics is not a guarantee that a breach will not occur. The analogy that best describes the situation is this: “You can have the best alarm system in the world, but it is useless if you don’t turn it on.” Also, the Program covers employee theft and the physical theft of data. PCI DSS compliance in credit card processing basics alone cannot prevent these losses.

How is a data compromise reported for the Program for credit card processing basics?
To report a data compromise you simply have to: (1) complete the online claim form; (2) submit (via the web or fax) the notice from the card brand or acquiring bank that stipulates there has been (or there is the suspicion of) a data breach at your covered location; and (3) submit (via the web or fax) a copy of the invoice provided by the certified PCI DSS auditor for credit card processing basics.

To submit additional expenses on an open claim you simply have to: (1) enter your claim number in the online claim form; and (2) submit (via the web or fax) a copy of the demand for payment from the card brand or acquiring bank that explains that these demanded reimbursements/fines were the result of an actual data breach, in compliance with credit card processing basics.

If a merchant account does suffer a loss, how quickly will the claim be processed?
Quickly! Once the relevant documentation is provided, the requests for payments will be processed. Assuming that the documentation is in order, the request should be processed within thirty days according to credit card processing basics.