Hi there, @bestbookkeepernj, @LBenware. I'll share some details on what will happen if you fail to comply with the PCI Compliance.
Given the increasing number of cybercriminals nowadays, data security is more important than ever. Any company or organization that handles cardholder data, whether to process, store or transmit, must meet PCI compliance requirements. It is a set of rules that businesses must abide by in order to take credit cards. Additionally, it will help you manage, process, and safely store delicate credit card data.
As a merchant, you’re responsible for protecting payment card information and meeting PCI compliance requirements. Failure to comply could mean costly fines and audit costs. And if the card gets stolen, it could mean even more costs and restrictions. You may also need to spend on card re-issuance, acquirer and legal fees, and more.
For complete details, see these articles:
Moreover, Intuit has partnered with Security Metrics to streamline the PCI compliance validation process. Security Metrics charges an annual fee to merchants who are validating compliance for Intuit.
Please leave a comment below, if you have any additional inquiries regarding PCI Compliance. I'd be happy to assist. Stay safe.
