HSBC Merchant Services has launched a new
transaction service to enhance fraud protection levels.
HSBC said that the new service, called Global
Fortress, was developed for merchants to comply with minimum
security requirements set out under the Payment Card Industry Data
Security Standard (PCI DSS) scheme.
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Chris Davies, managing director of HSBC
Merchant Services said:
“Although the process to ensure your business
is PCI DSS compliant can be an arduous one, it is necessary to
protect customers’ card data from fraud and protect the reputation
of your business. Not only that, but a merchant may have to pay
large fines if they decide to ignore these obligatory
requirements.
“Global Fortress allows our customers to
manage both of these potentially substantial issues: a simple way
of achieving PCI DSS compliance and a path to possibly avoid
receiving industry fines when compliance is maintained.”
Compared with the first half of 2010, card
fraud in the UK has risen by 8% year on year, according to figures
from the UK’s Fraud Prevention Service, CIFAS.
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By GlobalDataHSBC will charge £6 per merchant ID per month
for Global Fortress, which it promises will protect customer data
and regularly test security systems through Qualified Security
Assessor, SecurityMetrics.
