RETAILERS ASSESSING SECURITY FOR CREDIT

To meet a June 30 deadline, retailers need to assess whether they comply with a new security standard set by the credit card associations, though not all merchants are convinced the fines for noncompliance are justified.Fines set by the associations for not complying with the new standard, called the Payment Card Industry (PCI) Data Security Standard, will run as high as $500,000. The fines are levied

To meet a June 30 deadline, retailers need to assess whether they comply with a new security standard set by the credit card associations, though not all merchants are convinced the fines for noncompliance are justified.

Fines set by the associations for not complying with the new standard, called the Payment Card Industry (PCI) Data Security Standard, will run as high as $500,000. The fines are levied on a retailer's merchant bank, though the bank would likely pass them on to the ret

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