- PCI Compliance - The new standards for credit and debit card security have been in place for over a year now. If you bought a system prior to 2011 and have not kept you software updated, you may not be PCI compliant (which can mean fines of $10,000 + the loss of your merchant account). Here is a link to more information on PCI Compliance: https://www.pcisecuritystandards.org/
- Partial Authorizations - in the second half of 2011, it was also required that your system be able to handle partial authorizations for MasterCard branded gift cards. Partial authorizations allow the customer to automatically use the remaining balance on a card and then use another form of payment. For example, if the customer does not know how much is available on the card, it can be run for $100 but will come back authorized for only $80 if that is how much is available on the card. Here is a link to more information: http://www.downtownboise.org/index.cfm/downtowngiftcardDelld520
- EMV - new standards will be coming out again in the next 1-2 years related to how contact-less credit and debit cards are processed. Merchants will likely be required to meet these new standards or face higher credit and debit card processing fees.
Are you in the US and in need of no cost retail point of sale advice? I'm happy to help and can be reached on my cell at 208-340-5632 (mountain time) or via email at email@example.com.
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