The Payment Card Industry (PCI) Data Security Standards are a set of guidelines that organizations must follow to keep sensitive financial information from prying eyes.
In order to remain in good standing with the credit card industry, stakeholders must become PCI-compliant — a process that involves periodic assessments and audits. Historically, these PCI audits have revolved around a series of checkboxes.
Interactive voice response (IVR) is a telephone technology used by businesses worldwide to provide automated support for customers. Instead of talking with a live agent right away, users can speak their preferences (or press their choices) in order to reach the appropriate department.
For businesses, the primary benefit of IVR technology is cost. They don’t have to staff as many call center technicians since customers are able to find the information they need on their own.
In most parts of the world, EMV credit card processing has already become the standard in retail stores and restaurants. These more secure cards come with chip-enabled fraud protection to help keep sensitive financial data from prying eyes. In order to authorize a transaction, chip-enabled cards must be physically present at the point of sale. And instead of simply signing their name, customers must manually enter in a personal identification number (PIN) to complete a purchase.