Top 5 Question/Answers Regarding PCI Compliance for Your Merchant Account

What is PCI and why does my business need PCI Compliance? 

Ever see a monthly or big annual "PCI" fee show up on your merchant statement?  Ever wonder: What is PCI Compliance?  How do I become Compliant and what are the benefits?  How much should it cost?  Why am I paying for this added fee?  Is this a scam?  Is this just another way for my credit card processing company to make more profit? Read on to find answers to these questions.

1. What is this PCI Compliance I see everywhere?

First off, PCI stands for Payment Card Industry, and is often followed by DSS - Data Security Standards.  In a nutshell, Card Brands such as Visa and Mastercard have mandated that ALL MERCHANTS must comply with a standardized set of rules and standards (PCI DSS  www.pcisecuritystandards.com) in order to protect cardholder data from breach, fraud, and theft.  It is NOT A SCAM.  EVERY BUSINESS must be PCI Compliant.  That being said, some businesses do take advantage of merchants in order to make additional money off of them.  This is where they idea that PCI is a scam comes from.  To learn more about the REAL PCI COMPLIANCE, read on... Read more

Negative Option & Forced Continuity – Is Your Business Ready For The Final Days of The Wild West for E-Commerce

The Final Days of The Wild West for E-Commerce - Negative Option Billing 

Negative Option billing refers to a business practice where a merchant provides a free trial or sample of goods/services, requires a credit card upon sign up and then bills the customer in the future unless they proactively cancel with the merchant. Read more

Chicago card skimming ring busted at Wrigley Field

6 charged in skimming scheme at restaurants, Wrigley Field

Six people are accused of stealing bank information from patrons at Chicago restaurants and Wrigley Field, then running up more than $200,000 in purchases on phony cards. Joseph Woods, 32, allegedly paid employees to skim credit card information by using a small credit card reader provided by Woods, according to the state attorney genereal's office. The employees would swipe the cards and Woods would create counterfeit cards to charge up thousands of dollars in purchases, the office said. Britain Woods, 33, Essence Houston, 28, Jenette Farrar, 34, and Kenyatta Davis, 31, worked at Wrigley Field, RL Restaurant, Taco Bell andMcDonald's, officials said. Alex Houston, 22, along with Joseph Woods, was charged with using the phony credit cards to make illegal purchases, officials said. The suspects, all from Chicago, were each charged with one count of conspiracy to commit a financial crime, which carries a sentence from four to up to 15 years, officials said. Joseph Woods, Essence Houston, Alex Houston and Davis also were charged with continuing a financial crimes enterprise. Joseph Woods, Alex Houston and Davis face an additional identity theft charge that carries a sentence of from three to seven years, officials said. Officials said the bank accounts that were compromised include Chase, U.S. Bank, Citibank, Harris Bank, American Express, Bank of America and Fifth Third Bank.

The Art of Giving

The Art of Giving - Donate to Non-profits

What is giving? One way it has been defined Is: “to present voluntarily -- without expecting compensation.” Giving, then, is a choice, an option with no obligatory strings. It extends its hand to help and not to take. Giving can be a selfless and sacrificial act and expressed in many ways. Its effects ripple through society and bring in waves of relief, comfort, and aid.   Business owners that elect to donate to non-profits is one prime example.  Read more

Inspired to be Excellent

I was on the train earlier this week on my way into Beautiful downtown Chicago and decided I wanted to catch up on some of my emails.  I came across a blog post from one of my favorite angel investor/adviser, Jason Calacanis, founder of www.launch.co.

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