PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Reaction to Visa’s TIP Considers Several Angles

Mercator Advisory Group by Mercator Advisory Group
February 17, 2011
in Analysts Coverage
0
Colored credit cards, debit card overdraft

Colored credit cards

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
PCI assessor and blogger at StoreFrontBackTalk Walt Conway provides some additional thoughts on Visa’s recently-announced TIP program. This program relaxes annual PCI validation requirements for non-US merchants, as long as 75% of those merchants’ Visa payments are processed on EMV-compliant terminals. Conway examines the possible long-term implications of the exclusion of US merchants from TIP. Conway opines that either the initiative will be stimulative to US EMV migration, or it will further isolate the US from the rest of the world, which tends to see PCI compliance as a US-focused issue. Along the way, Conway raises several other issues of considerable interest…

Visa’s bulletin goes to great lengths to emphasize that merchants still need to be PCI compliant at all times. To me, that means those merchants still need quarterly vulnerability scans, annual penetration testing, daily log reviews and all the other ongoing daily, weekly and monthly PCI compliance actions.

The same fees, fines and penalties as exist today will apply. And should a merchant’s “risk conditions change dramatically,” Visa can boot that merchant (or class of merchants?) out of TIP and go back to requiring annual compliance assessments.

TIP, therefore, may put acquirers in an uncomfortable position. Under TIP, Visa is going around its acquirers and telling merchants directly that they don’t need to re-validate PCI compliance. Visa continues, however, to hold the acquirer responsible for any data breach. If I were an acquirer and a card brand told my merchant it didn’t have to re-validate PCI compliance and that merchant got breached, I would not be too happy about getting fined and then having to pass that fine on to my merchant.

Read the Full Blog Post: http://storefrontbacktalk.com/securityfraud/u-s-retailers-should-watch-visas-tip/

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    digital payments

    Navigating the Future: Top Digital Payment Trends to Watch

    March 31, 2023
    scams

    As Scams Become Omnipresent, New Tools Can Help FIs Fight Back

    March 30, 2023
    item clearing

    As Check Volumes Decrease, Financial Institutions Need to Consider Alternative Clearing Options

    March 29, 2023
    payments friction

    Too Much Payments Friction Can Lead to Customer Chafing

    March 28, 2023
    online fraud

    Understanding the Cost of Online Fraud and How to Prevent It

    March 27, 2023
    live shopping, ebay

    Q&A: eBay Exec on Live Shopping and the Future of Payments

    March 24, 2023
    AI and Biometrics in Regulatory Compliance in Finance

    The Importance of AI and Biometrics in Regulatory Compliance in Finance

    March 23, 2023
    Everyone Benefits from the Real-Time Payment Networks  

    Everyone Benefits from the Real-Time Payment Networks  

    March 22, 2023

    Linkedin-in Twitter

    Advertise With Us | About Us | Terms of Use | Privacy Policy | Subscribe
    ©2023 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    Menu
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • Recent News
    • Resources
    Menu
    • Industry Opinions
    • Recent News
    • Resources
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result