What are PCI Compliance Fees and are these really necessary?
PCI Compliance Fees – The Merchants using the digital methods of the payment, often charge the PCI Compliance Fees. This is a mandatory charge that needs to be paid by the Business Owner. If you are a merchant and want to understand the significance of the PCI Compliance Fees then this article can provide the details you were looking for. And, if you want further detail feel free to contact Merchant Stronghold at the toll-free number- +1 (888) 622 – 6875
What is PCI Compliance Fees?
The PCI stands for Payment Card Industry and the PCI Compliance charge is a non-standard charge that a merchant is needed to pay when the payment service providers ask for it. The exact reason to pay this fee is not clear. Here are some key points of the PCI Compliance Fees:
- The PCI Compliance Fees is a non-standard charge, paid by the Merchant.
- There are no strict rules or set of reasons around this particular charge.
- There are no specific services given to merchant in the return of the fees.
- These fees make the Merchant PCI Compliant.
- If the merchant is not paying the PCI Compliant fees then the payment processor will ask them to pay the PCI non-compliance fees.
Now that you know about the PCI Compliance and its significance for the Merchant let’s move to understand whether it is important or not.
How to Reduce PCI Compliance Fees?
As we discussed, the PCI Compliance is a hidden charge and the merchant might face issues while managing these charges. We recommend the merchants to reduce the charges by following these steps.
- Manage your payments and keep a keen eye on them.
- Use a secure and standard method for all your payments.
- Regulate your payment security methods from time to time.
- Scan your business to estimate the quarterly PCI fees.
- Finally, hire a PCI expert to help you reduce the PCI Compliance Charges.
For more information and to reduce the PCI Compliance Charges, contact Merchant Stronghold at the toll-free number +1(888) 622-6875 and talk to an expert to assist you better.
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PCI Compliance – Frequently Asked Question
1) What are the levels of the PCI?
The four-level of the PCI are discussed below:
- Level 4 – Less than 20,000 transaction per year. The PCI cost would be less than $60 per year.
- Level 3 – 20,000 to 1 million transactions per year. The PCI cost would be around $1200 per year.
- Level 2 – 1 million to 6 million transactions per year. The PCI cost can range from $10,000 to $50,000 per year.
- Level 1 – 6 million and above transactions per year. The PCI can be $50,000 or above per year.
- How to Handle the PCI Compliance Fees?
Self-assessment of your business especially the business can help you a lot. And if you are unable to understand anything regarding your business then contact the Merchant Stronghold. Visit our website app.merchantstronghold.com and get the related blogs for issues.
2) What happens if you do not pay your PCI Compliance Charges?
If you do not pay off your PCI Charges then you will be asked to pay the non-compliance charges. And for further disobedience, your license for the business can be terminated.
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Mentioned above are some of the issues of our other customers. If you are also facing a hard time with the PCI Compliance charges then contact Merchant Stronghold for assistance. We give special attention to the high-risk businesses and specialize in the offshore accounts. Contact using the 24/7 email support at email@example.com or try the toll-free number +1 (888) 622 – 6875.