Are You "PCI" Compliant?
Do You Know What It Means?
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In our September edition of Club Insider, we ran an article previewing a seminar to be given by CheckFree's Ron Poliseno and Data Security Expert, Jonathan Rubens at this year's Club Industry show in Chicago. The title: "While You're Running the Club, Who's Guarding Your Members' Financial Data? Mitigating the Risk of Fraud and Identity Theft". For those of you not in attendance, please read on, as the subject of PCI Compliance is an issue you will have to deal with at some point as a fitness facility owner or operator.
The Elephant in the Room
From time to time, there are issues that can change the landscape of business as we know it. Technology is a catalyst that has changed our landscape, and we have not seen anything yet, as it is always changing and improving. Fifty years ago, cash (in its physical form) was king. Then, there were credit cards, debit cards and EFT (Electronic Funds Transfer). As seat belts became a safety device first available for widespread consumer use in the 1950's, fifty years after Ford's Model T, systems and devices to protect and ensure safe electronic storage and transmission of a consumer's private and financial data have become essential. The PCI Security Standards Council's Data Security Standards are perhaps the most significant rules guiding businesses in processing electronic consumer payment transactions. Yet, PCI Data Security Compliance is the elephant in the room, however, as no one really wants to talk about it though they know they should.
The issue of data security compliance is fairly new, and with constantly changing standards, it can be a hassle to become compliant; however, there are experts in the field that can help you. In some cases, the fixes are pretty easy. Others, not so much, but each are equally important in terms of liability protection. So, what is PCI? How will it effect you? And, what can you do to minimize your risk? I will turn it over to Ron Poliseno and Jonathan Rubens, experts in the field, to answer these questions as they did so with great detail during their seminar at Club Industry.
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