Credit Card Industry

The AmEx plans to use the cartel decision against the two huge players to prohibit other credit card issuers from giving credit card payments to other businesses.

The Commission is hopeful that the US April Tribunal will maintain the verdict and for the first instance establish a competitive environment in the US credit card industry, which has long been a pair. The case studies deal with AmEx's strategy to introduce its own credit card in face-to-face opposition to Visa and MasterCard and the possible results of this approach.

The credit card and payment card industry Data security standard

Credit card payments are the main income stream for most merchants. Merchants must conclude a contract with a service provider and a merchant banking institution to be able to receive credit card payments. In general, as explained in earlier sections, these arrangements require the merchants to ensure adherence to the Payment Card Industry Data Security Standard ('PCI DSS').

As an alternative, they seek an assurance and guarantee that the merchant will comply with the merchant's compliance with the merchant card markers ( e.g. American Express, Discover, MasterCard and Visa) and some of the merchant card marker regulations could be construed as implying that a merchant is PCI DSS conformant. PCI DSS is a standards initially defined by tokens and later delegated to the payment card Industry Security Standards Council ("PCI SSC") for administration and further evolution.

It defines what the tokens claim is a basis for technological and business demands to safeguard card holder information. In other words, many consider PCI DSS to be the minimal requirement that a business must fulfill to be able to accept it. Are there any shortcomings found in the current "Report on Compliance" or "Attestation of Compliance" of your enterprise and are you resolving these problems?

Did the detection of non-conformity with PIC lead to notice or corrective action under the contract? When you have commissioned a third person to assess your conformity with your standard, are you convinced of the competence of this organisation and its analyses? Do your suppliers have a contract to comply with your CI standard? Are your equipment suppliers and OEMs meeting PIN Transaction Security (PTS) standard specifications?

Has your payment application PA-DSS been successfully validation? And if so, does your point-to-point encryption answer comply with the P2PE standards? Did the providers accessing, transferring or storing your credit or debit card information provide you with adequate compensation in the case of injury resulting from their devices?