Global and national payment regulations change all the time. As security breaches happen, global compliance for processing payments becomes more complex and specific. And violations can be costly. We make it our business to anticipate and prepare for, anticipate and respond to changes in PCI and GDPR, as well as local payment regulations. We’ll keep you in compliance no matter when and where your transactions occur.
PCI-DSS has changed every 18 months on average since it was introduced in 2006. Running an ecommerce platform that’s out of sync with the latest version of regulations could cost you. It’s estimated that PCI-DSS will be retired and replaced in 2022. You don’t want maintaining compliance with an entirely new set of regulations to halt your monthly transactions and revenue. You need an ecommerce tool that will prepare for and smoothly transition your payment processing tool into compliance — without missing a beat.
Compliance with payment regulations isn’t just complicated — it’s also costly. Assessing readiness for PCI compliance certification alone can cost 200k for Level 1 merchants. Investing in a PCI compliance auditor once your ecommerce payment provider is in place can cost over 200k simply to make sure your company is in line with the newest regulations. If there is a mistake or an unintentional violation, costs can quickly climb. PCI-DSS violation fees can cost $90 for each unauthorized transaction, which could number in the thousands, depending on your customer base.
UMEC protects your ecommerce transactions and offers you peaceof mind. We’ll take on the risk of any compliance errors so you know you’ll never be stuck paying exorbitant penalties and fees. We’ll work behind the scenes to ensure PCI compliance, effortlessly transitioning your ecommerce payment platform to adapt to any regulatory changes. We anticipate changes and implement them behind the scenes, so you can keep running business as usual, no matter how regulations change.