12 Important Compliance Requirements for Credit Card Payment Systems

June 28, 2017 / GuidesFor Team

There’s a huge chance that as an enterprise, you are using POS (Point of Sale) system to facilitate the credit card payments of your customers. POS is a software solution that accepts the information from your customer’s credit card, links it up with the financial institutions that provide him a hefty credit line, and transacts his payment for your product. In the not too distant future, expect that the usual credit card verification process will adapt more biometric systems. Facial recognition, retina scanning, and voice assessment, among a few, just might replace the usual swiping of the card. This is a growing trend which Technavio says will increase by 28 percent in the next four years. This innovation will also help your organization fulfill the 12 most important industry compliance requirements laid out by credit card companies, banks, and the necessary government bodies. Read on for more. – Cora Llamas.

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