Empowering Businesses

Security Standards Protect Cardholder Privacy

Protecting cardholder data is the first line of defense for card companies such as Visa. It is imperative that cardholders trust that their information is secure every step of the way.

Visa has taken a prominent role in establishing global standards to protect all stakeholders within the payment system from the negative effects of fraud. Most recently, Visa spearheaded the development of the Payment Card Industry Data Security Standard (PCI DSS), which is an international set of security requirements for any entity that stores, processes or transmits cardholder data.

This means that merchants across the world clearly understand how they are expected to protect their customers’ data, that software and hardware developers are required to build systems without security flaws and that cardholders can be assured that the payments system they rely on is secure.

A combination of fines and incentives for merchant banks and others helps to reduce the chances that sensitive cardholder data could be compromised by criminals. By the end of 2007, three-quarters of the largest merchants and nearly two-thirds of midsized merchants in the U.S. had validated PCI DSS compliance.

Fueling Small Business Success

In many countries, small businesses are the engine of the economy. However, many small business owners struggle to manage their cash flow and spend more time than they would like poring over paper invoices and signing checks.

Visa provides small business owners with products that can help them analyze and manage their cash flow more efficiently, cut down on paperwork and earn rewards toward essential business purchases.

In the U.S., Matt Griffin came up with the idea for the Edge Brownie Pan, a custom-built creation that aims to revolutionize the baking industry by catering to those who prefer as much “chewy edge” surface area as possible on each brownie.

Using Visa cards gave Matt the necessary cash engine to build his inventory, which enabled him to evolve from a wholesale-based retailer to a direct seller. Now Matt offers his customers the option to pay with their Visa card. These direct sales, which make up half of his business, have made a huge difference to Matt’s bottom line; he was able to get out of business debt in four months.

His Visa Business card also helps him manage his receipts and expenses more efficiently. Before, his employees were using cash or checks to pay for business goods, and they would have to fill out expense reports to be reimbursed, which was time intensive. Now they simply use their Visa cards.