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Can Business Growth Lead To Increased Security Risk?
Business growth can inadvertently lead to increased security risk.
Any business that leverages customer data will come into contact with risks. In small-to-medium businesses, much of the mitigating risk management will be reliant on the tools available. It is commonly found that third-party payment providers will incur additional charges for security measures through coercion.
PCI Compliance & Risk Management
One of the more controversial charges is for PCI-DSS Compliance, as a card payment security measure ensuring customer data protection through a rigorous set of standards. While it is not standardised by law, it is often found that the responsibility of the card processor is to establish the PCI Compliance fee.
The controversy comes from transparency issues, many businesses simply do not know whether they are compliant or not – which both can incur their own respective charges. It can be a charge that puts off smaller businesses partnering up with a payment provider. Especially since non-compliance can incur a hefty fee if your business is externally investigated in a data leak. This is why BMS is emphasising the importance of risk management, and planning ahead in order to avoid future complications.
The entire situation surrounding PCI Compliance is frustrating.
Risk Management is the solution.
Bespoke Merchant Solutions recognises this frustration and has dedicated its resources to a streamlined onboarding process for all merchants. Within this period, we can determine your exact needs and align the correct fees for your benefit. Our dedicated account managers can assess these needs and offer an accurate description of your PCI Level:
- processing 6+ million transactions
- processing 1-6 million transactions
- processing 20,000 – 1 million transactions
- 20,000 transactions per year
How can BMS help you?
At Bespoke Merchant Solutions, our expert team of advisors can help you understand your PCI level and ensure that you are PCI compliant to avoid any unwanted fees.
To begin understanding your current PCI level, risk management options, and the wider payment services we offer, get in touch with BMS. Begin strategising your budget plan with consistent payment technology.
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Business growth can lead to increased security risk. For SME’s, much of the mitigating risk management will rely on the tools available. BMS can help ensure compliance.
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