Credit card security is top of mind for any business that processes consumer payment data, and this October the stakes for U.S. businesses to comply with the latest wave of payment security will get higher. Beginning in October, new compliance language will shift the burden of liability for some types of fraudulent credit card transactions away from banks and ultimately on to merchants. In this Hotel News Now article, Alisa Chestler comments on how companies can prepare for the new liability burdens.
"Know your current position; know what your responsibilities are versus the banks in this situation," said Ms. Chestler. "As the technology shifts, the thought process regarding a potential liability shift is there, but in many ways it is dependent upon what security postures are and will be."
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