Is MasterCard Ready To Sing “You’re So Fined”?

Written by Evan Schuman
July 29th, 2009

An intriguing blog discussion over at the Verisign security site, with the suggestion made that MasterCard has rapidly started upping its fines for PCI compliance issues. As the post asks, “Who poked MasterCard hard enough to wake them from hibernation?”

“MasterCard traditionally fined post-breach and, in some cases, we learned that MasterCard would fine merchants small, but consistent amounts to get the attention of accountants and finance gurus inside the company,” the post said, adding that times have now changed. ” So Level 1 merchants are being fined, at most, $25K more from MasterCard than from Visa, and Level 2 merchants are being fined a whopping $315K more from MasterCard. If your company is actually made up of multiple Level 2 retailers, this potentially means that you could owe double, triple, or more. MasterCard rolled out another change to acquirers as well and will require newly boarded Level 1 & 2 merchants to provide a compliant ROC from a QSA before they are allowed into the network. So those Level 2 merchants that have been changing processors every year, it finally caught up to ya.”


One Comment | Read Is MasterCard Ready To Sing “You’re So Fined”?

  1. Dan Wode Says:

    So what we are really saying is that in exchange for the processors and MSP’s doing the heavy work of PCI enforcement, they will be rewarded by being able to “discourage” account hopping by merchants looking for better rates?


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