Two vendors are integrating their products in the hope of keeping security compliance on merchants minds nearly every day instead of a few times a year.
Specifically, The CSR PCI Toolkit and CSR Breach Reporting Toolkit are becoming part of the My Clear Reports virtual business center for merchants.
The thinking begins with the supposition that merchants visit the MCR business center just about every day to manage and view reports and alerts on their transaction processing, check processing, gift and loyalty cards, customer relationships, marketing, banking activity, collective purchasing, and sales tax filings, says Dino Sgueglia, My Clear Reports president and CEO.
They have one place that they can go to do everything to grow and manage their business, Sgueglia says.
While theyre there for those functions, the site will remind them that complying with the Payment Card Industry data security standards requires nearly constant vigilance, not just satisfying an annual formality, says Darrel Anderson, CSR executive vice president, sales and client solutions.
What the My Clear Reports portal does for our clients is that because they go there so often, it elevates compliance to a daily activity or at least a daily thought process, Anderson says.
Besides compliance the CSR toolkits help merchants report breaches to the dozens of agencies that require notification, he says.
The companies hope to integrate the two programs by August, says Sgueglia. In the meantime, ISOs can continue to promote the CSR toolkits to merchants, notes Anderson.
Both executives emphasize the importance of security to small merchants.
Merchants may find themselves discouraged by a slow sales day or the loss a key associate, but those setbacks dont compare with the problems triggered by breaches, Anderson maintains.
Get breached, get hacked, get compromised, and see what happens, he says. Seventy percent of Level 4 merchants are out of business in 18 months if they suffer a data compromise.
Offering the combined business center and compliance services can help independent sales organizations and sales agents differentiate themselves in a competitive market, the executives contend.
Theres turnover in some portfolios of 20% to 30% attrition, says Anderson. Those merchants arent dying theyre being poached and picked off and switched by other ISOs.
The business center and compliance services can increase revenue for merchants and thus tie them more closely to the ISOs that provide it, he maintains.
It provides a value-added infrastructure service so that the merchant has to stay with you in order to get the MCR suite of tools, Anderson says.
Although the CSR products will be integrated into the MCR platform and included in MCR sales and marketing tools as part of the kit, ISOs will negotiate separately for the CSR offerings and the rest of the business center, he says.
The goal is for anybody who is on MCR to have CSR and vice versa, notes Sgueglia.