PCI DSS validation isn’t just a box-ticking exercise, there are real consequences of non-compliance which are outlined below.
Additionally, being compliant also means that you can have peace of mind knowing you are following the best industry standards - protecting you and your customers.
Fines and increased costs
Card schemes and acquirers can apply non-compliance fines to businesses that fail to validate PCI DSS compliance. The exact amount varies by scheme, acquirer, and the severity and duration of non-compliance. Some acquirers also pass on higher transaction fees to non-compliant merchants until compliance is restored.
Greater exposure if something goes wrong
If a data breach does occur while you're non-compliant, you may be held liable for a share of the resulting costs (covering fraudulent transactions, card reissuance, and investigation fees).
Risk to your ability to accept card payments
Beyond the direct costs, a breach or known compliance failure can seriously damage customer trust.
The good news
None of this needs to be daunting. Most Mollie merchants have a comparatively light compliance burden thanks to how Mollie Checkout and Mollie Components handle card data - and Mollie’s PCI compliance partnership with SecurityMetrics is designed to make the annual validation straightforward.
To read more: How do I get PCI DSS compliant?