The reasons of the existence of a PCI Compliance Fee are safety, convenience and defense.
PCI stands for Payment Card Industry. Its compliance fee is compensated by the holder of the merchant account and this is paid to his provider. This is done in submission for all the norms and security of the credit card account data of the customers. Its main use is to safeguard the customers or clients from online hackers hence, resulting to a well-guarded storage of information and data. A merchant account with no PCI fee is fortunate enough to benefit from these following purposes and he is also free from further monetary responsibilities and has a better cash flow.
One problem in the e-commerce industry is the rampant fraudulent practices in producing credit cards. This brings companies and providers of credit cards to thinking of better ways of a safer and more reliable means of credit card payments. What they came up with are the setting up of an encryption program that turns computer data and messages into an incomprehensible format that only the holder of the account can reconvert them into its correct form. Another is the firewall which is a computer software that serves as a barrier that walls out unauthorized access to your system software or data. Companies and providers are also adding a protection program that is tap-free and also hacker-free. This is one of the reasons why there is a PCI DSS meaning Payment Card Industry Data Security Standard which extends a helping hand to merchants in saving their customer