PCI Compliance | Level 1 Merchant
Wednesday, July 2nd, 2008Welcome back!
Level 1 Merchant:
According to Visa’s Website, a level 1 merchant is described as: Any merchant-regardless of acceptance channel-processing over 6,000,000 Visa transactions per year. Any merchant that Visa, at its sole discretion, determines should meet the Level 1 merchant requirements to minimize risk to the Visa system. Keep in mind that is any merchant type, processing over six million individual transactions, not $6,000,000 in sales. Also keep in mind that Visa, at it’s sole discretion may require any merchant to meet Level 1 Requirements, to be deemed in compliant.
PCI Compliance Requirments:
An annual ON-SITE PCI Data Security Assessment, performed by either a Security Assessor or an Internal Audit, signed by the Principal or Officer of the company.
If Level 1 Merchant is accepting credit cards over the internet or maintaining a databased on a network, a Quarterly Data Scan is required by an Approved Scan Vendor.
Contact your merchant account provider for more information. Failure to become PCI Compiant could result in termination of your credit card processing agreement.
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