Payment Card Industry (PCI) requirements are a minefield of acronyms and, for many merchants, it can be difficult to understand exactly what they need to do to ensure they are compliant. In brief, the PCI standards are a set of security compliance frameworks that merchants must maintain in order to take physical and/or digital card payments either in store, online or on their mobile. Without PCI compliance, merchants will not be able to work with an acquirer and may also be fined by the card schemes such as Visa or Mastercard.
by Nadja van der Veer, Co-Founder of PaymentCounsel and Managing Partner at Pytch Ventures
New EU regulations scheduled to come into force in September 2019 will cause a significant increase in the use of biometrics to verify online payments, Mastercard predicts.
And how long until retina scans are a reality in the payment industry?