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HSBC Merchant Services helps retailers in fight against fraudsters

• Global Fortress service supports retailers’ PCI DSS compliance
• Helps them to avoid high industry fines for non-compliance

HSBC Merchant Services LLP, a wholly-owned subsidiary of Global Payments and one of the largest independent payment processors in the UK, has launched a new service to help businesses ensure that their customers’ transactions are secure against fraud.

The new service has been developed to help merchants comply with a set of minimum security requirements mandated by Card Schemes such as Visa and MasterCard. The new security requirements have been put in place to ensure that all the Card Schemes customers’ card transactions are adequately protected against fraudsters, who are increasingly focusing on small businesses. These requirements, the Payment Card Industry Data Security Standard (PCI DSS), are mandatory and non-compliance can result in large fines from the Card Schemes and merchants’ payment providers.
In order to simplify the often complex processes merchants need to follow, HSBC Merchant Services has launched Global Fortress – a one-stop shop for merchants seeking to become PCI compliant.

The need to protect customers from fraud is a continuing priority for merchants as recently released figures show that cases of card fraud in the UK increased by 8% in the first six months of this year, compared to the last six months of 20101. For £6 a month per Merchant ID, the Global Fortress service will help merchants protect customer data and regularly test security systems, among other services, through Qualified Security Assessor, SecurityMetrics™2.

Chris Davies, MD of HSBC Merchant Services said: “Although the process to ensure your business is PCI DSS compliant can be an arduous one, it is necessary to protect customers’ card data from fraud and protect the reputation of your business. Not only that, but a merchant may have to pay large fines if they decide to ignore these obligatory requirements.

“Global Fortress allows our customers to manage both of these potentially substantial issues: a simple way of achieving PCI DSS compliance and a path to possibly avoid receiving industry fines when compliance is maintained.”

The fines imposed by the Card Schemes are likely to be at least £10,000 and are potentially unlimited: one merchant was fined £100,000 as a result of a card data security breach within the last year.