Compliance, a word that many wish to avoid but always shows up, especially in the world of payments and finance. Within the payment processing space, there are multiple aspects of compliance for anyone that touches the ecosystem.
Merchants, acquirers, gateways, platforms, networks, banks, and even consumers have compliance requirements to manage and adhere to. Rev19 understands compliance, regulatory aspects of payments, and has developed our framework to help mitigate much of the burden and heavy-lifting for our clients and partners.
With that said, it does not take away the rules of engagement related to compliance. Below you can find various topics and resources on areas of payments related compliance including: PCI-DSS, EMV, Card Brand Rules, FinCen Beneficial Ownership, Chargebacks, Surcharging, and much more.
There are numerous PCI DSS Merchant Levels and varying compliance requirements for which merchants need to be aware. The official site for the Payment Card Industry Data Security Standards provides the most current and accurate information, to stay current with compliance matters. Our Compliance Specialists are available to support you, engage via chat and we can get you scheduled. Below are a few links to common resources used by merchants.
As for the technical definition of a merchant, it is “…any entity that accepts payment cards bearing the logos of any of the five members of the Payment Card Industry Security Standards Council (PCI SSC)…as payment for goods and/or services…”
NOTE: Persistent Merchant Monitoring identifies merchant website content compliance issues for acquirers, ISOs and payment service providers, and persistently monitors merchant websites for ongoing content risk. This helps to insure that payment providers remain in compliance with major card network rules, and comply with the Business Risk Assessment and Mitigation section of the MasterCard Merchant Monitoring Program (MMP). It also complies with the Visa Global Brand Protection Program (GBPP).
As a Mastercard processor or merchant, you are vital to our success. And that success is better assured if you have access to and understand the Mastercard rules and how they may apply to your business. You also should be aware that Mastercard rules and other standards change from time to time.
By accepting Visa cards, you become an integral part of the Visa payment system. That’s why it’s important that you start with a clear picture of the Visa card transaction process: what it is, how it works, and who’s involved. This will provide you with a conceptual framework for the policies and procedures of Visa.