Do I have to be PCI Compliant?
There are a few ways to answer this question! While you may only incur an additional monthly cost for being “PCI Non Compliant”, it’s best to ensure you complete the PCI requirements each year.
Ultimately, PCI compliance is not a law. You won't go to jail if you're not compliant - but you could lose your ability to accept credit cards, or you could be subject to large fines if you're the cause of a data breach.
Many merchants either forget, or choose to not be PCI compliant for a number or reasons. This does open your business up to potential liabilities should a breach of data be seen, but that is quite rare. And, depending on your business it could be even more rare! Regardless, though, should the card associations inform us of your need to complete PCI Compliance you MUST complete it! Visa/MasterCard have the ability to terminate a merchant's ability to accept their cards should they deem the merchant is a security risk. It's rare, but the card associations will threaten closure if they feel your business is high-risk.
End of the day, PCI is there to protect your business and your customers. We understand it can feel onerous, especially for some industries and processing methods as the PCI requirements vary based on a few factors. But, rest assured it's absolutely in your best interest to take the time each year to update your PCI status. Often, when you are PCI compliant you are afforded some financial protections should your business be the victim of a card data breach.
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