At ASF, our goal is to provide you with the service, support, and information you need to effectively manage your electronic payments. Data breaches for small businesses now make up 43% of cyber-attacks. In addition, for those small businesses that had breaches, 83% were not financially prepared to recover from the attack. To address the heightened security risk to you, your members, ASF and our sponsor banks, the following changes have been implemented to ensure the safety of your business and ours:
- Sponsor bank increase of monthly PCI fee from $15 to $49
- Sponsor bank increase of monthly non-compliance fee from $25 to $79 per Merchant ID per month
- ASF has invested in increasing our credit card & ACH tokenization services to enhance our systems’ security, safeguarding both our customers’ and your members’ data.
More Information on PCI Compliance Changes
If you've noticed a PCI non-compliance fee on your payments reporting it means your business doesn't meet minimum data security standards. We have been notified by our sponsor bank that due to increased risk this PCI non-compliance fee has increased from $25 to $79 per month effective 7/1/2024.
Complying with PCI can reduce your monthly merchant service bill by eliminating the PCI non-compliance fee. It also allows you to avoid the costly long-term consequences of non-compliance and demonstrates your commitment to keeping your members’ data safe.
It's easier than you think to become PCI-compliant – read through these FAQs to learn more.
More Information on Tokenization Services
The way tokenization works is when you add a new credit card or ACH information to your member management system to be used for recurring billing, we replace the sensitive credit card or ACH data with an algorithmically generated number called a token. This ensures your credit card data is secured at rest in our systems and in transit remaining protected from breaches and theft in every step of the payment process. Effective 7/1/2024, you will see this pass-through increase of $.03 per credit card or ACH transaction. This will not impact your POS transactions.
ASF is committed to providing you with the highest level of security and we appreciate your business and ongoing partnership.
Please reach out to Client Support with any questions.
