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Issue 6 | 1st Quarter 2010 ™ Wells Fargo Merchant Connect Best practices in payment processing Maximize revenues by successfully resolving chargebacks PCI compliance and data security updates Is your third-party service provider putting you at risk of a data compromise? Countdown to PA-DSS validation by July 1, 2010 Card networks news New MasterCard® POS requirements improve prepaid card experience Payment solutions Managing your merchant processing account has never been easier Resources for your business Start navigating through every business stage today! The clock is ticking away fast… Merchants who fail to use a payment application validated to comply with the Payment Application Data Security Standard (PA-DSS) by July 1, 2010 will no longer be able to process card payments with any merchant processor. Read more Looking for New Year’s resolutions to help grow your business in 2010? We’ve got a great suggestion: Sign up for online reporting with ClientLine® today and find out how easy it is to manage your merchant processing transactions online, 24/7…at no extra cost. Read more Dear Customer, Welcome to a fresh slate for the New Year! Although we can look forward to a year of new opportunities, we continue to face some old challenges that haven’t quite subsided yet. Wells Fargo Merchant Services is here to help you succeed every stage of the way. In this first 2010 issue of the Wells Fargo Merchant Connect information bulletin, you’ll find a wealth of information and tips to help you save time and money, better serve your customers, and reduce fraud and data security risk. • Save time and money – Control losses by learning the immediate steps to take to remedy card disputes in your favor. – Manage your merchant processing account online 24/7 with ClientLine® online reporting. It’s easy to use, fast, and available at no extra cost. • Reduce fraud and data security risk – Learn 8 important questions to ask your vendors to ensure that they are not putting you at risk of a data compromise. – The deadline to comply with the Payment Application Data Security Standard (PA-DSS) is July 1, 2010. Are you ready? • Better serve your customers – To help improve the prepaid card experience at the point of sale, MasterCard® is rolling out new compliance requirements, beginning May 1, 2010. Get a list of impacted industries and effective implementation dates. • Successfully plan for business growth – Ask your banker for the Special Edition of the Wells Fargo Strategies & Solutions For Your Business® Guide to help you better manage through each business stage. Don’t forget these important dates Take note of these important dates affecting merchants. Stay informed We wish you much success this coming year. We remain dedicated to providing you with the tools and resources to help you succeed. Sincerely, Learn more on important matters that may impact your payment processing activities with our two regular newsletters: Merchant Intelligence™ and Wells Fargo Merchant Connect™. www.wellsfargo.com/biz/merchantnews Charmaine Clay Senior Vice President Wells Fargo Merchant Services 1 Issue 6 | 1st Quarter 2010 | Wells Fargo Merchant Connect © 2010 Wells Fargo Bank, N.A. All rights reserved. (1-10 126746) Wells Fargo Merchant Connect —Topics TM Best practices in payment processing Payment solutions Maximize revenues by successfully resolving chargebacks On the heels of the increased sales volume many merchants enjoyed during the holiday season often comes the increased incidence of chargebacks, or card disputes. Learn about important steps you can take to improve your chances of resolving a chargeback and minimize losses. Read more Managing your merchant processing account has never been easier Did you know that as a Wells Fargo Merchant Services customer you had access to ClientLine® online reporting at no extra cost? With ClientLine, you can easily manage your merchant processing transactions 24/7. Learn more on how it can help you grow your business in 2010. And get a sneak peak of great things you can do, such as viewing your statements, analyzing sales trends, lowering payment processing expenses and much more. Read more PCI compliance and data security updates Is your third-party service provider putting you at risk of a data compromise? Did you know that in 81% of data security breaches that were investigated by Trustwave, a global provider of data security and payment card industry compliance management solutions, a third party provider was responsible for the compromised system’s administration? 1 Today many businesses outsource some of their data transmission or security processes and are unknowingly putting themselves at risk of a data compromise and a heavy liability burden. Do not assume your vendors are compliant with the Payment Card Industry Data Security Standard (PCI DSS). Learn about 8 questions you can ask your vendors so that you can better protect your business from undue risk. Read more Countdown to PA-DSS validation by July 1, 2010 The clock is ticking away fast. Merchants who fail to use a payment application validated to comply with the Payment Application Data Security Standard (PA-DSS) by July 1, 2010 will no longer be able to process card payments with any merchant processor. Read more Resources for your business Start navigating through every business stage today! Wells Fargo has helped millions of business owners flourish in every stage of their growth, through good times and bad. To help you achieve your own vision, we’ve produced the Special Edition of the Strategies & Solutions For Your Business® Guide that helps you manage and successfully navigate through the business lifecycle. Ask for your complimentary issue today. Read more New! Don’t forget these important dates A lot is happening in the payment card industry that affects merchants. This new section helps you remember important dates and deadlines that may impact your business. Read more Card networks news New MasterCard® POS requirements improve prepaid card experience In parallel with the increased number of consumers who are using prepaid cards to better control their expenses, the payment card industry has seen a spike in decline rates at the point of sale (POS) and a subsequent influx of cardholder complaints. To address these issues and help improve the “prepaid card experience” for both merchants and consumers, MasterCard is rolling out new requirements. They will affect a large number of merchants and be introduced in three phases, beginning in May 2010 and in full effect by May 2011. Find out if your business is impacted and when the mandates may apply to you. Read more (1) Trustwave, Global Security Report 2010 2 Issue 6 | 1st Quarter 2010 | Wells Fargo Merchant Connect © 2010 Wells Fargo Bank, N.A. All rights reserved. (1-10 126746) Best practices in payment processing Maximize revenues by successfully resolving chargebacks On the heels of the increased sales volume many merchants enjoyed during the holiday season often comes the increased incidence of chargebacks, or card disputes. A chargeback occurs when, at the request of your customer or your customer’s card issuing bank, a payment card transaction is disputed. A cardholder can initiate a chargeback within 120 days of the delivery date of the products and/or services. A customer’s card issuing bank can also initiate a chargeback but only within 7 to 75 days. When a chargeback happens, the amount of the original sales transaction is deducted from your checking or savings account along with any chargeback fee. Chargeback related losses can therefore weigh heavily on any business. There are key steps you can take to improve your chances of resolving a chargeback and minimize losses. Let’s look at some of the most common causes of chargebacks and the immediate steps you can take to help Wells Fargo Merchant Services remedy any disputes in your favor. Minimize losses. Save time. Cause: The card issuer requests a copy of the sales receipt and receives a substitute that does not contain all required information, or the receipt is not legible. Possible remedy: Immediately resubmit a legible copy of the sales receipt and ensure it includes all required information. If you microfilm receipts, make copies from the microfilm to the same size as the original receipt. Cause: Your merchant store name or location on the billing statement is not recognized by the cardholder. Possible remedy: Provide any documentation that will help the cardholder recognize the transaction, such as a sales receipt, shipping invoice or delivery receipt, or a description of the merchandise or service purchased. Remember that the merchant name is the single most important factor in cardholder recognition. If using a “Doing Business As” (DBA) name, be sure that the merchant name your customer knows you by is also identified. Cause: The cardholder claims they did not receive the merchandise, or the merchandise did not arrive by the agreedupon delivery date. Possible remedy: If the merchandise was delivered by the expected delivery date, send us evidence of delivery, such as 3 Issue 6 | 1st Quarter 2010 | Wells Fargo Merchant Connect There are key steps you can take to improve your chances of resolving a chargeback and minimize losses. a delivery receipt signed by the cardholder or the carrier’s confirmation. If the merchandise was shipped after the specified delivery date, provide us with the shipment date and expected arrival date, or proof of delivery and acceptance by the cardholder. Cause: The card issuer receives a written complaint from a cardholder in regard to a card-not-present transaction, claiming that they did not authorize or participate in the transaction. Possible remedy: If authorization was obtained and Address Verification Service (AVS) or Card Verification Value (CVV – 3 digit code on the back of the card) used, and you have proof that the merchandise was delivered to the AVS address, send a copy of the transaction invoice, proof of delivery and any other information to us. Keep in mind that AVS and CVV are primarily fraud prevention tools. Although they can, in some cases, provide you with the ability to resolve a chargeback, they do not directly prevent chargebacks. Cause: The customer claims that the same transaction was submitted for processing more than once. Possible remedy: If both transactions are valid transactions, send legible copies of both transaction receipts. Include any related documentation such as signed receipts and invoices and clearly indicate that the transactions are not for the same merchandise and/or services. © 2010 Wells Fargo Bank, N.A. All rights reserved. (1-10 126746) Best practices in payment processing Cause: The customer claims that a credit was not processed. Possible remedy: Check to see if you have already issued a credit and if you have, please provide the proof to us. If the credit hasn’t been issued, check and see whether or not the cardholder contacted you to request a credit and if the product has been returned or attempted to be returned by the cardholder. Cause: The retrieval request was not fulfilled within the given time frame. A “retrieval” is a request to receive details or documentation associated with a credit card transaction, such as the copy of a receipt or invoice. Possible remedy: If the requested copy has already been sent, provide documentation supporting this submission. Include a copy of the receipt as well as fax confirmation or certified mail receipt. 24/7 chargeback resources ClientLine® online reporting View chargebacks www.myclientline.net Electronic Integrated Dispute System (eIDS) Resolve chargebacks online No more faxing or mailing Process and manage chargebacks and retrieval requests in an automated online environment, eliminating the delays and costs associated with faxed and mailed paper transactions. Logon or enroll: www.myclientline.net Enrolling is easy—Get step by step instructions To learn more, call us at 1-800-451-5817, 24/7 or contact your Wells Fargo Relationship Manager directly. Online “Resolve chargeback tool” www.wellsfargo.com/biz/chargeback Tips to prevent e-commerce card disputes www.wellsfargo.com/biz/merchantconnect3 (page 10) More chargeback prevention resources www.wellsfargo.com/biz/merchant/service/manage/ prevent 4 Issue 6 | 1st Quarter 2010 | Wells Fargo Merchant Connect © 2010 Wells Fargo Bank, N.A. All rights reserved. (1-10 126746) PCI compliance and data security updates Is your third-party service provider putting you at risk of a data compromise? It is unsettling to learn that in 81% of data security breaches that were investigated by Trustwave, a global provider of data security and payment card industry compliance management solutions, a third party provider was responsible for the compromised system’s administration.1 Since many businesses today outsource at least part of their data transmission or security processes, such as Internet connectivity, firewall management, and systems support, the concern continues to mount. In fact, many point of sale (POS) system developers, integrators and IT firms are not following the Payment Card Industry Data Security Standard (PCI DSS). Bottom line: a surprising number of merchants are unknowingly at risk. The big 8: know these important questions to ask your third-party providers It’s critical to understand that, if your system experiences a security breach, you hold responsibility—not your vendor, even if they failed to comply with the PCI DSS. So, in your own interest, it is not only a best practice but a necessity to properly oversee and manage their services. Here’s a guide to help you ask your vendors the right questions to successfully protect your business: If your system experiences a security breach, you hold responsibility—not your vendor, even if they failed to comply with the Payment Card Industry Data Security Standard. Question #1: Are my POS application and version validated with the Payment Application Data Security Standard (PA-DSS)? A good foundation question, but the answer does not necessarily guarantee compliance. Do not assume that your payment application or version are PCI compliant. Investigate and do your research. As of July 1, 2010, complying with the PA-DSS is no longer just good business, it’s a requirement. Merchants who fail to use a PA-DSS validated application will no longer be able to process card payments with any merchant processor. For more information on the PA-DSS or to view an updated list of validated applications and versions, please visit the PCI Security Standards Council’s website at: www.pcisecuritystandards.org/security_standards/pa_dss.shtml * Question #2: Is my POS system protected by a hardwarebased firewall? The majority of breaches, especially those involving smaller merchants’ systems, are caused by a reliance on routers or cable modems for firewall protection. Neither of these blocks traffic into your processing system nor allows only necessary outbound traffic. Be aware: hardware-based firewall protection is rarely supplied by POS integrators. Your business may be at risk of a data compromise. Assess your data security risk today and ensure your system and the cardholder data you handle are protected. Use Trustwave’s Risk Profiler Tool: www.wellsfargo.riskprofiler.net * Available at no additional cost. * By clicking this link, you will enter a site which is developed and managed by a third party. Wells Fargo does not provide the products and services on the site nor is responsible for its content and accuracy. Please review the applicable privacy and security policies and terms and conditions for the site you are visiting. (1) Trustwave, Global Security Report 2010 5 Issue 6 | 1st Quarter 2010 | Wells Fargo Merchant Connect © 2010 Wells Fargo Bank, N.A. All rights reserved. (1-10 126746) PCI compliance and data security updates Question #3: How is remote access granted to my system? Remote access allows your third-party vendors to tap into your processing environment for systems support. It’s important to ensure that the credentials (user name/password) of each person remotely accessing your system are unique. Question #4: Is anti-virus software installed on my POS system? Your last line of defense, anti-virus software must be installed on all POS systems, including registers. Be sure to ask the question early on: you may need to purchase the software. Question #5: Who is responsible for updating my POS system? Although POS integrators may update your POS application, they may not update your operating system, remote access applications or anti-virus programs. All of these must be consistently updated to remain secure. Not all versions of payment applications are PA-DSS validated. Make sure to check that not only is your payment application PA-DSS validated but also the version you are using. Question #6: Are operating system account user names and passwords unique to my location and rotated accordingly? POS systems are often configured by integrators from backups or clones, so user names and passwords are identical. Make sure your system is configured to force password rotation. Question #7: Are my audit logs reviewed on a consistent basis for malicious activity? PA-DSS validated systems must generate detailed audit logs, which must be routinely reviewed and maintained for one year. Question #8: Now that I’ve updated to a PA-DSS compliant system, how can I ensure that restricted credit card data has been removed? Non-compliant POS systems often store restricted credit card data that simply updating your system does not always purge. Make sure that your vendor has a process in place to locate and purge old data. Physically destroying your system’s hard drive is the most secure way to ensure restricted data has been removed. The PCI Security Standards Council recommends deleting files by using a military wipe program or via degaussing or otherwise physically destroying the media. 6 Issue 6 | 1st Quarter 2010 | Wells Fargo Merchant Connect More PCI compliance resources PCI Quick Reference Guide www.pcisecuritystandards.org/pdfs/pci_ssc_quick_guide. pdf * Get a list of PA-DSS validated applications www.pcisecuritystandards.org/security_standards/vpa/ vpa_approval_list.html * Questions? We’re here to help. Just email Wells Fargo Merchant Services at WFMSPCICompliance@wellsfargo.com Countdown to PA-DSS validation by July 1, 2010 On the merchant “clock,” time is ticking away quickly to July 1, 2010. This is the date set by the Payment Card Industry Security Standards Council (PCI SSC), on which all businesses using a payment application to process, store or transmit card data will need to ensure that their application is validated to comply with the Payment Application Data Security Standard (PA-DSS). Merchants who fail to use a PA-DSS validated application by July 1, 2010 will no longer be able to process card payments with any merchant processor. For more information on the PA-DSS or to view an updated list of validated applications, please visit the PCI Security Standards Council’s website at: www.pcisecuritystandards.org/security_standards/pa_dss .shtml * * By clicking this link, you will enter a site which is developed and managed by a third party. Wells Fargo does not provide the products and services on the site nor is responsible for its content and accuracy. Please review the applicable privacy and security policies and terms and conditions for the site you are visiting. © 2010 Wells Fargo Bank, N.A. All rights reserved. (1-10 126746) Card networks news Let’s take an example: A customer makes a $100 purchase. They can use a $75 prepaid debit card (such as a prepaid MasterCard debit card they received as a gift during the holidays) and pay the rest with their regular credit card. • Balance response: Providing cardholders with the account balance will alert them to their open-to-buy balance at the time of purchase. According to MasterCard research, lack of awareness of available balances in debit and prepaid accounts is the chief cause of declined transactions at POS. • Authorization reversal: When the sale is not completed, merchants can reverse the authorization and free up the opento-buy amount that otherwise would be blocked from authorization approval. Changes will impact a large number of merchants New MasterCard POS requirements improve prepaid card experience Driven by consumers’ concern over accumulating debt and better managing their budget in recessionary times, there has been a rapid rise in the volume of debit and prepaid card transactions over the past several years. Prepaid cards allow consumers to control their expenses by only spending up to the amount deposited on their account. With increased usage, the payment card industry has also seen a spike in decline rates at the point of sale (POS) and a subsequent influx of cardholder complaints. To address these issues and help improve the “prepaid card experience” for both merchants and consumers, MasterCard is rolling out new compliance requirements, known as “partial authorization” requirements. These mandates will allow new processing features designed to increase the number of successful transactions and reverse problems faster at the point of sale. All e-commerce and integrated POS merchants must be able to support the new MasterCard requirements to remain in compliance by the three phased dates per impacted MCC: • Phase I: May 1, 2010 • Phase II: November 1, 2010 • Phase III: May 1, 2011 Exception for select merchants Merchants who batch-authorize the following transaction types: – E-commerce – Mail and phone order – Recurring payments These merchants will be exempt from complying with MasterCard’s requirement to support Partial Approval and Balance Response. However, they will need to support Authorization Reversals. Terminal-based merchants do not need to upgrade their existing terminals as of these dates. Merchants in MCC 5542 (Fuel Dispenser, Automated) will be exempt from the Balance Response requirement. The roll-out is structured by Merchant Category Code (MCC) in three phases, beginning May 2010 and in full effect by May 2011. Support will be required for all Debit MasterCard and Maestro card programs and will affect merchants in 47 MCCs. See full list of MCCs below, sorted by the date the requirements go into effect. Look to future issues of the Wells Fargo Merchant Connect information bulletin for further updates, as additional information, such as non-compliance penalties, becomes available from MasterCard. Solutions to high decline rates at the point of sale For any questions on the new requirements or to upgrade your terminal functionality, please contact us at 1-800-451-5817, 24/7 or contact your Wells Fargo Relationship Manager directly. Here’s a closer look at how the new processing features and requirements will help improve the prepaid experience: • Partial approvals: Merchants can allow debit and prepaid cardholders to get partial approvals when their account open-tobuy amount is not sufficient to complete the transaction. This will allow customers to use multiple cards to make a purchase. 7 Issue 6 | 1st Quarter 2010 | Wells Fargo Merchant Connect If you are using an integrated POS software application such as Aloha, Counterpoint, or Squirrel or an E-payment/Gateway application such as Authorize.Net, Cybersource, and First Data Global Gateway, please contact your application software vendor directly to find out what updates are available. Your vendor is responsible for updating your application software. © 2010 Wells Fargo Bank, N.A. All rights reserved. (1-10 126746) Card networks news Impacted merchants and effective implementation dates Effective date: May 1, 2010 MCC Merchant category name MCC Merchant category name 5999 Miscellaneous and Specialty Retail Stores 7829 Motion Picture-Video Tape ProductionDistribution Stationery, Office Supplies 7832 Motion Picture Theaters 5200 Home Supply Warehouse Stores 7841 Video Entertainment Rental Stores 5300 Wholesale Clubs 8011 Doctors—not elsewhere classified 5310 Discount Stores 8021 Dentists, Orthodontists 5311 Department Stores 8041 Chiropractors 5331 Variety Stores 8042 Optometrists, Ophthalmologists 5399 Miscellaneous General Merchandise Stores 8043 Opticians, Optical Goods, and Eyeglasses 5411 Grocery Stores, Supermarkets 8062 Hospitals 5499 Miscellaneous Food Stores—Convenience Stores, Markets, Specialty Stores and Vending Machines 8099 Health Practitioners, Medical Services—not elsewhere classified 5541 Service Stations (with or without Ancillary Services) 5542 Fuel Dispenser, Automated 5732 Electronic Sales 5734 Computer Software Stores 5735 Record Shops 5812 Eating Places, Restaurants 5814 Fast Food Restaurants 5912 4812 Telecommunication Equipment including Telephone Sales 4814 Telecommunication Services 5111 Effective date: November 1, 2010 MCC Merchant category name 4111 Transportation—Suburban and Local Commuter Passenger, including Ferries Drug Stores, Pharmacies 4816 Computer Network/Information Services 5921 Package Stores, Beer, Wine, and Liquor 4899 5941 Sporting Goods Stores Cable, Satellite, and Other Pay Television and Radio Services 5942 Book Stores 7996 Amusement Parks, Carnivals, Circuses, Fortune Tellers 5943 Office, School Supply and Stationery Stores 7997 Clubs—Country Membership 5964 Direct Marketing—Catalog Merchants 7999 Recreation services—not elsewhere classified 5965 Direct Marketing—Combination Catalog—Retail Merchants 5966 Direct Marketing—Outbound Telemarketing Merchants 5967 Direct Marketing—Inbound Telemarketing Merchants 5969 Direct Marketing—Other Direct Marketers—not elsewhere classified 8 Issue 6 | 1st Quarter 2010 | Wells Fargo Merchant Connect Effective date: May 1, 2011 MCC Merchant category name 8999 Professional Services—not elsewhere classified 9399 Government Services—not elsewhere classified © 2010 Wells Fargo Bank, N.A. All rights reserved. (1-10 126746) Payment solutions Managing your merchant processing account has never been easier Bangkok to Boston, desk to deck chair, get the information you need—whenever you need it—by getting set up on ClientLine®. Our Internet-based reporting tool is easy to use, fast, and available to our Merchant Services customers at no extra cost. Yes, no monthly fee, no set up fee! ClientLine can help you manage your merchant processing account around the clock, around the world. Save time • Monitor account activity 24/7. • Easily review and retrieve transactions and data. Track cash flow • Review and reconcile recently processed transactions, bank deposits, settlements and disputes. Reduce costs • No set-up fee, no monthly fee. • View, print and download your statements at no extra cost, before paper statements are mailed. • Use reports to clearly understand processing expenses and identify opportunities at the point of sale to potentially reduce them. Manage fraud & card disputes • Investigate, track and even resolve card disputes online. • Identify both internal and external fraud. Gain greater insight into your merchant processing account & business • Schedule delivery of reports directly to your email or fax, per the schedule and format (Excel, PDF, Word and CSV) you prefer. • Understand how your business is performing overall by identifying sales trends over time. Access data through a secure Internet connection • Access detailed history for up to 6 months and summary information for up to 13 months. Not yet enrolled in ClientLine? Getting started is easy No set up fee—no monthly fee 1. Logon to www.myclientline.net 2. Click Enroll 3. Click Begin Enrollment 4. Completely fill out the form, including: a. Your Merchant ID (for which you are requesting online reporting access) b. Business Checking Account (checking account in which we deposit your payment transactions’ funds)* c. Tax ID (as recorded with Wells Fargo Merchant Services)* 5. Click Next 6. Select the applications for which you’d like to enroll. Choose: a. ClientLine. No set-up fee, no monthly fee b. eIDS (electronic Integrated Dispute System). Gives you the ability to manage card disputes quickly and efficiently online. 7. Click Next What happens after I sign up? Congratulations! You are only a few clicks away from enjoying the ease, convenience and benefits of ClientLine. Within 1-5 business days and once your information has been validated, you will receive an email confirming next steps to complete your enrollment. Simply follow the instructions provided. * The business checking account and tax ID numbers used to enroll for ClientLine must match the numbers on record with Wells Fargo Merchant Services. If they have changed, please contact us at 1-800-451-5817, 24/7, to update your information before you enroll. 9 Issue 6 | 1st Quarter 2010 | Wells Fargo Merchant Connect © 2010 Wells Fargo Bank, N.A. All rights reserved. (1-10 126746) Payment solutions Look at some of the great things you can do on ClientLine! Just logon to www.myclientline.net for all functions—and off you go! View a snapshot of your account activity, such as sales transactions, refunds, bank deposits and card disputes. • Click Dashboard and select Reporting View your monthly statement • Click Funding and select Monthly Statement • Enter your Merchant ID • To review a recap of your statement for multiple merchant locations, select Recap. Otherwise, select Location. Then click Submit • Select the month you want to view and click Get Statement ClientLine® online reporting Review the funding of transactions • Click Funding and select Bank Deposits Learn more www.wellsfargo.com/biz/clientline Analyze your payment processing rates • Click Rate Analysis • Select Qualification Analysis to view transactions’ information for each main interchange category • Select Billbacks to view information on transactions that failed to qualify for the best possible interchange rates Access the online demo www.myclientline.net Research card information • Click Research and select Card Search For technical assistance during enrollment in ClientLine, please call 1-800-285-3978, option 2, Monday through Friday, 8am to 10pm Eastern Time. Enroll or logon today www.myclientline.net How can we help? For general questions regarding ClientLine online reporting, please call us at 1-800-451-5817, 24/7. View card disputes • Click Disputes and select Chargebacks Schedule reports • Click Reports and select Scheduled Report • Select the report category you want and click Submit • Then select the specific report you want and click Submit • The report schedule will appear. Simply fill it in based on your preferences and click Submit • A report confirmation will then appear View reports • Click Reports and select View Reports • Select the report you want to view and click Open. Or click Save to save the report to your desktop or file 10 Issue 6 | 1st Quarter 2010 | Wells Fargo Merchant Connect © 2010 Wells Fargo Bank, N.A. All rights reserved. (1-10 126746) Resources for your business Start navigating through every business stage today! Each stage of life ushers in new opportunities and challenges. The same can be said for the lifecycle of your business, as it evolves from an idea into a mature company. In the seed stage, your greatest challenge is turning your idea into a product or service. In the startup phase, you’ll face challenges you never anticipated, along with rewarding moments you’ve only dreamed of. Then, just when it seems you have it all worked out, the growth stage brings in a whole new set of cash flow and marketing challenges. Finally, as your business enters maturity, your questions turn from “How do I grow my business?” to “How do I protect it?” and “How do I plan for a secure retirement and change of ownership?” Wells Fargo has helped millions of business owners flourish in every stage of their growth, through good times and bad. To help you achieve your own vision and identify the opportunities and challenges to successfully navigate through the business lifecycle, we’ve produced the Special Edition of the Strategies & Solutions For Your Business® Guide. Smart tax planning for your business Watch Wells Fargo’s latest free webcast and learn how proactive tax planning can help improve cash flow and provide a solid financial foundation for your business. https://wellsfargobusinesssolutions.com/mediaplayer/? episode=E08 To view other webcasts, please visit: www.wellsfargo.com/biz/webcast Topics include: • Cost-saving real estate strategies for your business • Retirement and transition strategies for your business • Health care options for your business Ask your Wells Fargo banker for your complimentary Special Edition of the Wells Fargo Strategies & Solutions For Your Business Guide today to help you start managing through the business lifecycle. • And more. And be sure to visit: www.wellsfargo.com/biz/education to explore our rich library of tools and resources. 11 Issue 6 | 1st Quarter 2010 | Wells Fargo Merchant Connect © 2010 Wells Fargo Bank, N.A. All rights reserved. (1-10 126746) Don’t forget these important dates Effective date What’s happening? Notes and resources Merchants in select Merchant Category Codes must comply with MasterCard’s Partial Authorization Mandate (Phase I) May 1, 2010 Impacted merchants include restaurants, grocery stores and supermarkets, specialty retailers, health care providers, automated fuel dispensers, book stores and many more. • Learn more Your payment application must be PA-DSS validated July 1, 2010 The Payment Card Industry Security Standards Council (PCI SSC) mandates that all businesses who use a payment application to process card payments ensure that it has been validated to comply with the Payment Application Data Security Standard (PA-DSS). Merchants who are not compliant will no longer be able to process card payments. Your PIN Entry Devices must use Triple Data Encryption standard July 1, 2010 The PCI SSC mandates that all transactions originating at point of sale PIN Entry Devices (POS PEDs) encrypt PINs using the Triple Data Encryption Standard (TDES) from the point of transactions. Order your gift cards in time for the holiday season Mid-September 2010 Call 1-800-430-3292, Monday – Friday, 9am – 6pm Eastern Time or contact your Wells Fargo Relationship Manager directly. • Learn more about this mandate. • To view the list of PA-DSS validated applications, please visit: www.pcisecuritystandards.org/security_ standards/vpa/vpa_approval_list.html * • To verify if your equipment is compliant, call us at 1-800-622-0842, 24/7 or contact your Wells Fargo Merchant Services Relationship Manager directly. • Learn more: www.wellsfargo.com/biz/merchantconnect4 (page 6) • Learn more on how gift cards can help you grow your revenues: www.wellsfargo.com/biz/merchantconnect4 (page 4) Merchants in select Merchant Category Codes must comply with MasterCard’s Partial Authorization Mandate (Phase II) November 1, 2010 • Learn more Impacted merchants include transportation businesses, computer network/information services merchants, amusement parks, and more. You must truncate the merchant copy of card receipts December 31, 2010 • This requirement is already in effect for merchants located in AK, CA, CO, NV, TN and WA. • Also note that all merchants are already required to truncate the receipts that they provide to their customers today. All merchants must truncate the card receipts that they keep for their records. Receipts can only show the following: Number: ************1234 Expiration date: **/** Merchants in select Merchant Category Codes must comply with MasterCard’s Partial Authorization Mandate (Phase III) May 1, 2011 • Learn more Impacted merchants include professional services and government services merchants. * By clicking this link, you will enter a site which is developed and managed by a third party. Wells Fargo does not provide the products and services on the site nor is responsible for its content and accuracy. Please review the applicable privacy and security policies and terms and conditions for the site you are visiting. 12 Issue 6 | 1st Quarter 2010 | Wells Fargo Merchant Connect © 2010 Wells Fargo Bank, N.A. All rights reserved. (1-10 126746)