Managed service providers (MSPs) play an important role in safeguarding their clients’ IT infrastructure. However, the scope of their responsibilities extends beyond mere network security. Ensuring compliance with industry standards, such as the Payment Card Industry Data Security Standard (PCI DSS), is crucial. A fundamental part of this compliance process is the Self-Assessment Questionnaire (SAQ).

This blog will delve into why MSPs should assist their clients with the SAQ process, highlighting the added value and protection against potential pitfalls.

The implied responsibility of MSPs

Let’s take a look at some expectations modern MSPs ought to meet when it comes to ensuring their clients are PCI-compliant.

The natural extension of IT services

MSPs are already integral to their clients’ network and data security, making the extension to compliance support a natural progression. This role involves maintaining secure configurations, monitoring for threats and ensuring data protection, all of which align with PCI DSS requirements. By assisting with the SAQ, MSPs can ensure that their clients’ security measures are both robust and compliant.

Security expertise

Clients trust MSPs to handle their IT environments securely. Leveraging this trust to guide clients through the SAQ process reinforces your commitment to their security. Your expertise in network and data security provides a solid foundation for understanding and implementing the controls required by PCI DSS.

Preventing client mistakes and mitigating risks

Diving further into the role MSPs play for businesses, let’s take a look at how MSPs can help clients avoid compliance risks.

Avoiding costly errors

Completing the SAQ accurately is critical, as errors can lead to non-compliance and hefty fines. For example, a common mistake is misinterpreting technical jargon or requirements. By guiding clients through the SAQ, MSPs can help prevent these costly errors. Consider a client who incorrectly states that they encrypt cardholder data when their encryption method doesn’t meet PCI DSS standards. This mistake could result in significant fines if discovered during an audit.

Ongoing non-compliance fees

Many small and medium-sized businesses (SMBs) unknowingly incur non-compliance fees from their payment processors due to errors in their SAQ. According to research, 73% of SMBs are non-compliant, often paying hidden fees as a result. By assisting with the SAQ, MSPs can help clients avoid these unnecessary expenses and ensure they meet all compliance requirements.

Adding value to MSP services

Here’s how your MSP can add more value to its services portfolio in the context of PCI compliance.

Enhancing service offerings

Incorporating SAQ support into your services not only differentiates your MSP from competitors but also deepens client relationships. Clients value comprehensive solutions, and by offering compliance support, you demonstrate a commitment to their overall security and operational success.

Expanding business opportunities

Providing compliance support can create new revenue streams and improve client retention. Clients are more likely to stay with an MSP that offers a holistic approach to IT security, including compliance management. This can lead to long-term contracts and opportunities for upselling additional services.

Why MSPs shouldn’t handle the SAQ alone

There are several reasons why MSPs shouldn’t tackle the completion of SAQs alone.

Lack of specialized expertise

While MSPs have extensive knowledge in IT and network security, the SAQ requires a detailed understanding and experience in PCI compliance. Without this specialized expertise, there’s a risk of providing incorrect guidance, which can lead to non-compliance and potential liability.

Resource and time constraints

Managing the SAQ process for multiple clients is time-consuming and can strain resources. Even the simplest SAQ could take two hours to complete. For an MSP with 50 clients, this translates to at least 100 hours — time that could be better spent on core services. Handling SAQs for numerous clients can overwhelm an MSP’s resources, making it impractical to manage SAQs internally.

The role of Secure Payments in assisting MSPs

Here’s how Secure Payments can take the burden of PCI DSS compliance off the shoulders of MSPs:

Partnering with experts

Secure Payments specializes in PCI DSS compliance, and we’re ready to take over the SAQ process to reduce the burden on MSPs. Our team provides the specialized knowledge required to navigate the complexities of PCI DSS compliance. By partnering with Secure Payments, MSPs can seamlessly integrate our services into their operations, ensuring compliance without disruption — and without adding another item to their endless to-do list.

Benefits of using Secure Payments

Secure Payments ensures accuracy and efficiency in managing PCI compliance, reducing risks and allowing MSPs to focus on their core services. Our expert-led approach guarantees that SAQs are completed correctly, mitigating the potential for errors and fines. Additionally, clients benefit from professional compliance management, enhancing their trust in your services.

The bottom line

Guiding clients through the SAQ process is a valuable extension of MSP services, preventing costly mistakes and non-compliance fees. However, the complexity and resource demands of the SAQ highlight the need for specialized support. We encourage MSPs to explore how Secure Payments can support their clients’ PCI DSS compliance needs. By partnering with Secure Payments, you can ensure accurate and efficient PCI DSS compliance management, allowing you to focus on your core services. After all, expert-led compliance management is crucial in today’s regulatory landscape.

We’re here to help

You will be asked to help your clients with their SAQs (if you haven’t been already). Our Secure Payments concierge will take this burden off your hands immediately and work directly with your customers to help them attain compliance smoothly so you can concentrate on growing your business.

Schedule a call with our specialist today to learn more.

Imagine dedicating countless hours to navigating a compliance document, only to discover that a minor detail has been missed, resulting in hefty fines and potential damage to your business reputation. For many managed service providers (MSPs), this scenario is all too familiar when attempting to manage the PCI DSS Self-Assessment Questionnaire (SAQ) on their own. The SAQ is a crucial tool in maintaining compliance for businesses handling credit card data, yet its complexity often poses significant challenges. In this blog, we’ll look at the reasons why managing the SAQ is a daunting task for MSPs and how partnering with specialized services, like Secure Payments, can mitigate these challenges.

The complexity of the PCI DSS SAQ

The PCI DSS SAQ isn’t just a standard compliance form; it is a comprehensive assessment that requires a deep understanding of specific security protocols and regulations. The questions are intricate, demanding detailed responses supported by documentation that proves compliance. For instance, you may be required to demonstrate encryption methods or provide evidence of regular security updates. The complexity of these questions can be overwhelming, especially for those without specialized expertise. Furthermore, the documentation process often involves interpreting various forms of evidence, making it time-consuming and prone to errors.

Changing regulations: The constantly evolving nature of PCI DSS standards adds another layer of difficulty. MSPs must stay updated with these changes to ensure continued compliance, which can be challenging since they already manage a myriad of responsibilities. The SAQ must be continuously revised in response to regulatory updates, making it an ongoing burden rather than a one-time task.

Lack of specialized expertise

Completing the SAQ requires more than just a basic understanding of IT systems — it demands specialized knowledge of PCI compliance. Many MSPs might lack this expertise, especially when it comes to interpreting technical language and security requirements. For example, understanding the intricacies of network segmentation or encryption standards is critical to providing accurate responses on the SAQ. Without this specialized knowledge, MSPs risk making mistakes that could lead to non-compliance, resulting in penalties and legal issues.

• Training and certification: Achieving proficiency in PCI compliance is not a simple task; it requires extensive training and certification. MSPs need to invest considerable time and resources into this process, which could detract from their primary business activities. This diversion of resources can create operational strain, making it difficult for MSPs to maintain the high level of service their clients expect.

Time and resource constraints

The SAQ is more than just a checklist; it involves a thorough assessment of a client’s IT and payment processing environments. This assessment is not only detailed but also time-intensive, particularly for MSPs managing multiple clients. For example, even the simplest SAQ might take several hours to complete, and when multiplied across multiple clients, the time investment becomes substantial. This time could be better spent on providing core services and supporting clients rather than on compliance documentation.

• Resource allocation: When MSPs focus on SAQ management, they risk diverting critical resources away from their primary services, leading to operational strain. This strain can result in errors, reduced service quality and ultimately dissatisfied clients. The challenge is magnified when MSPs attempt to manage the SAQ for numerous clients without additional support, making it impractical and unsustainable in the long run.

Potential for liability and errors

The stakes are high when it comes to completing the SAQ. Inaccuracies or incomplete information can expose MSPs to significant legal and financial liabilities. Clients may hold MSPs accountable for any compliance failures that result from errors in the SAQ, leading to potential lawsuits and financial penalties. For instance, if a client incurs fines due to non-compliance, they may seek compensation from the MSP responsible for their IT management and compliance guidance.

Impact of mistakes: Beyond financial penalties, mistakes in the SAQ can damage an MSP’s reputation. Errors in documenting security measures, for instance, could lead to a data breach, resulting in not only fines but also a loss of trust from clients. The reputational damage could be long-lasting, affecting the MSP’s ability to attract and retain clients.

The solution: Partnering with Secure Payments

Given these challenges, partnering with a specialized service like Secure Payments can be a game changer for MSPs. The Secure Payments team of experts possess the specialized knowledge and experience needed to navigate the complexities of PCI compliance effectively. They stay current with evolving standards and regulatory requirements, ensuring that the SAQ is completed accurately and efficiently.

• Efficiency and focus: By outsourcing SAQ management to Secure Payments, MSPs can optimize their resources and focus on their core services. Secure Payments integrates seamlessly with MSP operations, handling the compliance process without disrupting primary business activities. This partnership allows MSPs to maintain high service quality while ensuring their clients’ compliance needs are met.

The bottom line

Managing the PCI DSS SAQ alone presents significant challenges for MSPs, including complexity, lack of expertise, time constraints and potential liabilities. However, these challenges can be effectively managed by partnering with Secure Payments. By leveraging specialized knowledge, optimizing resources and ensuring accurate compliance handling, Secure Payments helps MSPs navigate the intricacies of PCI compliance, allowing them to focus on what they do best — serving their clients.

We encourage MSPs to contact Secure Payments to explore how we can support your PCI compliance needs. By partnering with Secure Payments, you can ensure accurate and efficient compliance management, enhancing your service offerings and positioning your MSP as a trusted, comprehensive IT solutions provider.

Schedule a call with Secure Payments today to learn more about our PCI compliance solutions.

A managed services provider (MSP) is likely well-versed in cybersecurity; however, payment security might be a less familiar topic. Payment security involves measures that protect financial transactions and sensitive data from unauthorized access, fraud and other threats. It's crucial for maintaining the integrity of financial transactions, ensuring smooth business operations and protecting both clients and MSPs from significant risks.

Payment security as a term broadly refers to a set of protocols, technologies and practices that protect the integrity of financial transactions within a business. These measures are designed to prevent fraud, theft and unauthorized access to sensitive customer data, both during and after transactions. There are multiple defense mechanisms that can be put into place to secure financial transactions and protect customer information, including:

• Encryption
• Tokenization
• Authentication
• Secure payment gateways
• Fraud prevention
• Firewall and network security
• Security patches

Why is payment security a growing field?

The vast majority of organizations in every sector that transact B2B business accept electronic payments, and that number is only expected to grow. Over 80% of businesses in a survey said that they are investing or planning to invest in B2B payment technology for accounts payable (AP) in 2024.

It’s an investment that makes sense. In the hustle and bustle of today’s business world, no one has time to spend tedious hours writing paper checks or balancing a checkbook. B2B payments are expected to make up over 70% of all virtual card payments by 2026. It has become much easier for even the smallest business to accept electronic payments thanks to services like Square. There’s no need for a company to go through the old cycle of calling a client for an overdue invoice, waiting for a check in the mail and then calling again when it doesn’t arrive. Instead, it can all be handled through one quick electronic transaction, even over the phone or outside the office.

Many of those payments will be processed through networks that an MSP maintains, creating risk that an MSP unfamiliar with payment security may not have factored into its defensive plan. That added digital risk makes solid payment security mission-critical for MSPs and their customers.  Cybercriminals are hungry for payment card information that they can leverage to facilitate identity theft or sell on the dark web. Security.org estimates that 60% of U.S. credit card holders have been victimized by fraud, and 45% have experienced fraud multiple times. The desirability of payment card information and the subsequent rise in cyberfraud has led to the adoption of standards that aim to protect that type of sensitive data.

What is PCI-DSS?

The Payment Card Industry Security Standards Council (PCI SSC) was formed by major credit card companies (Visa, MasterCard, American Express, Discover and JCB) to create a unified payment security standard. They launched the first Payment Card Industry Data Security Standard (PCI DSS) in 2004, detailing comprehensive requirements for payment security, including management, policies, procedures, network architecture and software design. The latest version, PCI-DSS 4.0, was released in 2022. While PCI-DSS compliance is not legally required in the U.S., it is mandated by contracts between merchants and their payment service providers, card networks and banks.

Payment security is an area that is often overlooked by MSPs. After all, a company’s MSP is not its credit card processor and certainly should not be. However, a company’s payment card transactions are typically sent through devices that are attached to the networks that MSPs maintain. That connection means that MSPs are involved in their clients’ payment security already, even though there are parts of it that the MSP has no visibility into. This is a huge problem for the industry.

Why this is a problem for all MSPs

Payment card information security is a thorny problem for MSPs. Why? Businesses need to be able to rely on their MSP for all their digital security needs, including payment security. However, PCI DSS is a complex standard. There isn’t an existing effective tool for mitigating PCI DSS risk, and an IT staffer can’t just do a crash course in PCI DSS by doing some research and watching some videos. An MSP needs to employ or consult with a person with expertise in PCI DSS to handle compliance and risk which is an expensive proposition.

Companies may assume that their credit card processor is already handling this part of payment security. After all, they see line items about compliance fees on their merchant statements and get communications from their merchant processor that mention PCI compliance. But looking a bit more closely unveils the truth: the business is actually paying a non-compliance fee that can range as high as $100 every month. Credit card processors don’t have any incentive to help businesses become compliant either. An estimated 80% of businesses are not PCI DSS compliant, and the added fee they pay monthly adds up to a lot of revenue for credit card companies.

It only gets worse for your clients

Merchant processors, as well as major card providers like Visa, Mastercard, Amex and Discover, don’t actually handle payment security. Instead, they all shift responsibility onto the businesses they serve without making that clear. Then, they slap on a non-compliance fee without explanation. By paying it, a business essentially admits that it is not PCI DSS compliant. So, if a breach occurs, the business is culpable and could potentially lose a cyber liability claim.

Many processors like Stripe provide a wealth of information to help their clients understand payment security and how to build a strategy to mitigate it. But that information is typically highly technical. It doesn’t help most non-tech stakeholders understand what needs to be done to become or maintain PCI DSS compliance. Instead, businesses rely on a trusted digital risk expert to take care of it: their MSP.

The simple solution: Partnering with Secure Payments

Payment security and PCI DSS compliance isn’t something MSPs or their clients can ignore. Any business that processes electronic payments, and its MSP, if it has one, is already on the hook for compliance and data security liability as soon as it enters into a processing agreement.

But MSPs don’t have to go it alone when securing their clients in a complex area that requires specialized skills like payment security, especially when they’re starting out at a disadvantage because of limited visibility. Secure Payments is a trustworthy partner for MSPs to turn to for efficiently managing their downstream clients’ payment security without adding more work to their plates.

Deploying Secure Payments is easy, and administration is almost hands-off for the MSP.

• When an MSP signs up a customer, the Secure Payments Concierge (an actual human being, not an algorithm) gets to work to speed up the compliance and security process.
  • The Secure Payments Concierge thoroughly audits the client’s payment and merchant environments.
  • The Concierge provides insights and self-service service suggestions to help the client eliminate any vulnerabilities it finds.
  • The client may choose to implement those fixes or switch to the Secure Payments environment, a move that typically saves them money on fees while effortlessly mitigating PCI DSS non-compliance issues. 
  • Secure Payments also saves time and stress on MSPs by handling the client’s Payment Card Industry Self-Assessment Questionnaire (PCI SAQ), a yearly requirement for merchants and service providers who are not in regulated sectors that require special reports.  

To sweeten the pot, for every client that switches to the Secure Payments environment, the MSP receives a small rebate. Depending on the volume of processing the client does, this can become a healthy new profit center for an MSP. Take a look at the game-changing effect opening up this new revenue stream had for Feller Payments in this case study.

Of course, the most important benefit of partnering with Secure Payments is that MSPs and their clients can rest easy knowing that Secure Payments has their PCI DSS compliance and payment security handled.

We’d love to talk to you about how Secure Payments will benefit your clients and your MSP. Book a call and let’s connect!