As an MSP, ensuring PCI DSS compliance isn’t just a task — it’s a significant responsibility. Payment Card Industry Data Security Standard (PCI DSS) is a set of comprehensive security standards designed to protect cardholder data during and after a financial transaction. For MSPs, managing PCI DSS compliance for multiple clients can be overwhelming. The stakes are high since non-compliance can lead to serious problems, such as penalties, data breaches and loss of client trust.

In this blog, we’ll explore how partnering with Secure Payments can alleviate this burden, allowing you to focus on what you do best — delivering exceptional IT services.

The complexity of PCI DSS compliance

The PCI DSS was established by major credit card companies to enhance the security of card transactions. Compliance is mandatory for any business that handles credit card transactions, making it a critical concern for MSPs who manage IT and security services for their clients. PCI DSS is structured around 12 key requirements, ranging from maintaining a secure network to implementing strong access control measures, each with its own detailed sub-requirements.

Security standards and compliance requirements

To achieve and maintain PCI DSS compliance, businesses must adhere to these requirements and undergo regular assessments. For MSPs, this means implementing and monitoring these controls across multiple client environments, each with its unique challenges and requirements. The complexity of these standards can make compliance a daunting task, particularly when managing the security of multiple clients.

The 12 PCI DSS requirements include:

1. Build and maintain a secure network: This involves installing and maintaining a firewall to protect cardholder data.

2. Protect cardholder data: Encrypt transmission of cardholder data across open, public networks.

3. Maintain a vulnerability management program: Regularly update antivirus software and develop secure systems and applications.

4. Implement strong access control measures: Restrict access to cardholder data on a need-to-know basis.

5. Regularly monitor and test networks: Track and monitor all access to network resources and cardholder data.

Challenges for MSPs

Managing PCI DSS compliance is a resource-intensive process. For MSPs, it requires continuous monitoring, detailed oversight and an in-depth understanding of the security controls necessary to protect cardholder data. The complexity of these requirements often leads to significant resource allocation, which can strain the capabilities of MSPs, diverting attention from their core services and impacting overall service delivery.

Detailed oversight and resource allocation

Ensuring compliance involves more than just meeting the basic requirements; it requires a proactive approach to managing and monitoring security controls. This includes regular vulnerability assessments, security audits and the implementation of corrective actions as needed. The need for constant vigilance and detailed oversight can quickly overwhelm MSPs, especially those managing a large and diverse client base. Allocating the necessary resources to maintain compliance effectively can also lead to increased operational costs, which may not be sustainable for many MSPs in the long run.

The role of Secure Payments

Secure Payments is dedicated to simplifying the PCI DSS compliance process for MSPs and their clients. Our team of experts brings specialized knowledge and extensive experience in payment security, making us the ideal partner for MSPs looking to streamline their compliance processes. We understand the unique challenges that MSPs face in managing PCI DSS compliance across multiple clients, and we’re here to help you overcome them.

Our approach to PCI DSS compliance

At Secure Payments, we offer a comprehensive suite of services designed to ensure that every aspect of PCI DSS compliance is covered. Our services include risk assessments, SAQ (Self-Assessment Questionnaire) completion and ongoing compliance management. We tailor our approach to meet the specific needs of each MSP and their clients, providing personalized solutions that align with their business operations. This client-centric approach ensures that compliance is not only achieved but maintained with minimal disruption to daily operations.

Comprehensive services and client-centric solutions

Our goal is to take the complexity out of PCI DSS compliance, allowing MSPs to focus on their primary services while ensuring their clients meet all necessary standards. We work closely with each client to understand their specific needs and develop tailored solutions that address their unique security requirements. Our comprehensive services include everything from initial risk assessments to ongoing monitoring and reporting, ensuring that all compliance requirements are met efficiently and accurately.

How Secure Payments works with MSPs

Let’s understand how Secure Payments builds a relationship with MSPs, empowering them to improve their compliance management services offering.

Partnership model

At Secure Payments, we understand that seamless integration with your operations is key to effective compliance management. We have developed a partnership model that allows us to integrate our services with your MSP operations without disrupting your primary services. This means that you can continue focusing on what you do best while we handle the complexities of PCI DSS compliance. By taking on the heavy lifting of compliance, we allow you to offload nearly 100% of the work involved, freeing up your resources to focus on growth and client satisfaction.

Seamless integration and collaboration

Our approach to collaboration is simple: we act as an extension of your MSP, providing dedicated support and expertise to manage PCI compliance on your behalf. This includes everything from initial assessments and SAQ completion to ongoing monitoring and reporting. Our team of compliance experts stays up to date with the latest PCI DSS standards, ensuring that your clients are always compliant with the latest regulations.

Collaboration and support

Our team of dedicated compliance experts is always up to date with the latest PCI DSS standards and requirements. We provide ongoing support to ensure that your clients are always compliant with the latest regulations. Our experts handle all aspects of the SAQ and PCI compliance, from initial assessments to ongoing monitoring and reporting. This ensures that your clients receive the highest level of service and support, while you maintain focus on your core services.

Professional client management is also a key area of focus for Secure Payments. We understand the importance of maintaining strong client relationships. Our approach ensures that we act as an extension of your MSP, providing the same level of service and support that your clients expect from you. This not only helps to preserve your client relationships but also enhances your reputation as a reliable and security-conscious MSP.

Benefits of partnering with Secure Payments**

The main benefits of collaborating with Secure Payments are:

• Efficiency and focus: By partnering with Secure Payments, MSPs can optimize their resources and focus on their core services and growth opportunities. Our comprehensive compliance services allow you to offload the burden of PCI DSS compliance, freeing up your time and resources to focus on what you do best. This not only improves your efficiency but also allows you to manage more clients effectively, leading to increased revenue and client satisfaction.
• Risk mitigation: One of the key benefits of partnering with Secure Payments is the reduction in risk. Our expert-led compliance management ensures that all SAQs and compliance processes are completed accurately, reducing the risk of errors and potential penalties. By staying current with the latest PCI DSS standards, we help protect your clients from emerging threats and regulatory changes, providing peace of mind for both you and your clients.
• Enhanced client trust: Effective compliance management by Secure Payments enhances client confidence in their MSP’s ability to handle IT and security needs. Our professional representation reinforces your commitment to security, building stronger client relationships and driving long-term business growth. By ensuring that your clients are always compliant with the latest PCI DSS standards, we help you maintain their trust and confidence, which is crucial for your long-term success.

The bottom line

Today’s regulatory landscape requires expert-led compliance management for MSPs. Partnering with Secure Payments allows you to offload the complexities of PCI DSS compliance, enabling you to focus on your core services and grow your business. The benefits are clear: increased efficiency, reduced workload, risk mitigation and enhanced client trust. Secure Payments is here to help you provide comprehensive, worry-free solutions to your clients.

Contact Secure Payments today to learn how we can support your PCI compliance needs and streamline the compliance process for your clients. Let us help you focus on what you do best while we handle the complexities of compliance.

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.

Imagine this: You're an MSP managing multiple clients who handle customer credit card information daily. Everything runs smoothly until a minor oversight in one client's compliance documentation leads to thousands of dollars in fines and significant damage to their reputation. As their trusted MSP, guess who they'll turn to for answers?

For businesses handling payment card information, maintaining compliance with the Payment Card Industry Data Security Standard (PCI DSS) is essential. A key component of this compliance is the Self-Assessment Questionnaire (SAQ).

This guide simplifies the SAQ process, explains the different types, details the time involved and sheds light on the importance of getting it right.

What is the SAQ?

The SAQ is a tool designed by the PCI Security Standards Council (PCI SSC) to help businesses assess their compliance with PCI DSS requirements. It is primarily aimed at smaller merchants and service providers who need to validate their compliance without undergoing a full external audit. It is, however, important to note that some businesses in highly regulated industries may implement different tools or processes to safeguard financial data.

In essence, the SAQ is a series of questions that guide businesses through the necessary steps to evaluate their security practices against PCI DSS standards. By completing the SAQ, businesses can identify and address potential vulnerabilities in how they handle cardholder data, ensuring they meet the standards required to protect that data from theft and fraud.

The SAQ isn't just a formality; it's a critical measure for demonstrating a business's commitment to securing payment data. This self-evaluation helps businesses protect themselves from potential breaches and builds trust with their customers by showing a proactive approach to data security.

Different types of SAQs

The PCI SSC provides several types of SAQs, each tailored to different business environments and how they handle credit card data. Here's a quick look at the main SAQ types:

1. SAQ A: This SAQ is designed for e-commerce or mail/telephone-order merchants who outsource all payment processing to validated third parties. These businesses do not store, process or transmit any cardholder data on their systems or premises, making their compliance requirements less complex.

• SAQ A-EP: Designed for e-commerce merchants who partially outsource payment processing but maintain an internet-facing website that handles cardholder data. These businesses are more involved in handling cardholder data than those covered by SAQ A.

• SAQ B: Intended for merchants using standalone dial-out terminals without electronic cardholder data storage. This is typical for businesses with simpler payment processing systems that do not require complex data security measures.

• SAQ B-IP: This is formerchants using standalone IP-connected terminals without electronic cardholder data storage. It is similar to SAQ B but applicable to those with internet-connected terminals.

• SAQ C-VT: This applies to merchants using virtual terminals on internet-connected computers without electronic cardholder data storage. These businesses process cardholder data via browser-based virtual terminals, often requiring a moderate level of security.

• SAQ C: This applies to merchants with payment systems connected to the internet who store, process or transmit cardholder data. This category involves more complex environments where data security measures are crucial.

• SAQ D: The most comprehensive of the SAQs, SAQ D is for all other merchants and service providers who don't qualify for the simpler SAQs. This includes entities with complex payment systems and those who store, process or transmit significant amounts of cardholder data.

Understanding which SAQ applies to your business or your clients is the first step in ensuring accurate and efficient compliance.

Time and effort required

Completing the SAQ can be a time-intensive process, depending on the type of SAQ and the complexity of the business's data environment.

For simpler SAQs, such as SAQ A or B, businesses might spend a few hours answering questions and compiling the necessary documentation. For example, an e-commerce merchant who outsources payment processing and does not store any cardholder data could complete SAQ A in about 2-4 hours.

However, for more complex SAQs, such as SAQ D, the process can take significantly longer. Businesses with multiple payment systems and data storage needs might spend several days or even weeks thoroughly evaluating their security measures and ensuring they meet all PCI DSS requirements.

For MSPs, managing the SAQ process across multiple clients can quickly become a daunting task. If each SAQ takes an average of two hours and an MSP has 50 clients, that's a minimum of 100 hours spent on compliance activities. This heavy workload highlights the impracticality of handling the SAQ process internally and highlights the value of partnering with a specialized service like Secure Payments.

Repercussions of getting it wrong

Incorrectly completing the SAQ or failing to comply with PCI DSS can have serious consequences, such as:

• Fines and penalties: Non-compliance can lead to significant fines from payment card brands, ranging from thousands to millions of dollars. For instance, in a recent breach, American Express customers' credit card details were exposed due to a third-party merchant processor being hacked. The breach, which was not caused by American Express directly but by an affiliated processor, emphasizes the importance of rigorous PCI DSS adherence. Non-compliance can lead to substantial fines, increased liability and significant reputational damage, as seen with the affected American Express customers who are now at risk of fraudulent activities.
• Increased liability: A merchant in Illinois faced a $40,000 bill due to credit card fraud, highlighting a significant issue in the protection disparity between consumers and merchants. While consumers are generally protected against fraudulent charges, merchants may not realize they lack similar protections until it’s too late. In this case, the fraudulent transactions were not flagged in time, leaving the merchant responsible for the charges. This incident serves as a reminder for businesses to be vigilant and implement robust security measures to safeguard against such financial liabilities.
• Reputational damage: Customer trust is crucial, and a breach can severely damage a company's reputation. In March 2023, ChatGPT faced a data breach that exposed user information, including names, payment addresses and partial credit card numbers. OpenAI, the parent company, quickly responded by enhancing security measures. Despite these efforts, the incident raised concerns and eroded some trust in AI technologies.
• Operational disruptions: Addressing compliance failures can divert resources from normal business operations, requiring extensive efforts to correct security issues and comply with regulatory requirements.

These examples showcase the importance of getting the SAQ right. Mistakes can lead to severe financial, legal and reputational repercussions, making it essential for businesses to manage PCI DSS compliance effectively.

The bottom line

Navigating the complexities of PCI DSS compliance is a daunting task for any business handling payment card data. The SAQ is a critical component of this process, but it requires careful attention to detail and a deep understanding of PCI DSS requirements.

For MSPs, managing the SAQ process for multiple clients can be overwhelming and impractical. By partnering with Secure Payments, MSPs can offload the time burden, ensuring their clients are professionally managed and fully compliant with all PCI DSS requirements.

If you're ready to simplify your PCI DSS compliance and protect your business and clients, contact Secure Payments today to learn how we can support your needs.

Secure Payments is here to help

It is not a matter of if but when. You WILL be asked to help your clients with their SAQs if you haven't already done so. Our Secure Payments concierge will take this burden off your hands and work directly with your customers to help them get it right.

Schedule a call with our specialist today to learn more.

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!