Visa USA adds financial incentives, fines to PCI program
Visa USA is adopting a carrot-and-stick approach to help drive merchant compliance with the PCI data security standard that it - along with other credit card companies such as MasterCard International and American Express - is pushing.
Earlier this week, the company announced that it has created a new $20 million incentive program under which it will monetarily reward "acquiring" financial institutions if their members are fully compliant with PCI requirements by Aug. 31, 2007.
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