ISOS Take On the Role of Ed­u­ca­tors

Health care and law firms are among the busi­ness cat­e­gories that han­dle a lot of sen­si­tive data but may need a bit of help un­der­stand­ing how to pro­tect it.

ISO & Agent - - INSIDE 07/08.2017 - BY DAVID HEUN

With new reg­u­la­tions and in­dus­try rules com­ing at a rapid pace, ISOS have an op­por­tu­nity to serve as guides and ed­u­ca­tors for over­whelmed mer­chants.

It’s a big chal­lenge to ed­u­cate small mer­chants on the im­por­tance of data se­cu­rity, but many ac­quir­ers and ISOS are jump­ing at the op­por­tu­nity to fill the role of ed­u­ca­tor. In par­tic­u­lar, ISOS are tar­get­ing spe­cific mar­kets for ed­u­ca­tion on Pay­ment Card In­dus­try data se­cu­rity stan­dards and other com­pli­ance needs.

“We are see­ing a lot of them tak­ing a new ver­ti­cal ap­proach, like fo­cus­ing on the health care space,” said Steve Robb, se­nior vice pres­i­dent of prod­uct for fraud pre­ven­tion and PCI com­pli­ance man­age­ment provider Con­trolscan.

Such a trend is bring­ing com­pli­ance frame­works to­gether, as many com­pa­nies now must pay close at­ten­tion to HIPAA reg­u­la­tions as well as PCI-DSS stan­dards, Robb said.

“There a lot of things needed to do to pro­tect pa­tient health in­for­ma­tion that are the same things needed to pro­tect pay­ment card data and com­ply to PCI,” he added.

Ac­quir­ers and ISOS pay­ing at­ten­tion to in­dus­try trends also un­der­stand that doc­tors’ pa­tients want more pay­ment op­tions, a de­sire not lost on providers who are try­ing to ex­pand pay­ment ac­cep­tance ca­pa­bil­i­ties.

But there are other are­nas in which ac­quir­ers and ISOS will more read­ily bring so­lu­tions to the ta­ble. In many ways, the more ag­gres­sive moves into new ver­ti­cals fall in line with the ac­quir­ing and ISO in­dus­try gar­ner­ing far more knowl­edge and con­fi­dence in un­der­stand­ing and sell­ing dig­i­tal and mo­bile tech­nolo­gies.

Mer­chant ser­vices provider Cayan de­liv­ered an­other ex­am­ple of the trend last week with its ac­qui­si­tion of Card Pay­ment Ser­vices LLC, giv­ing it a foot in the door of the waste re­moval in­dus­try, which it cited as ea­ger to shift to credit cards for pay­ments.

“We’re see­ing spe­cial at­ten­tion in the health care space, but we are also see­ing a lot of it oc­cur­ring in the le­gal space,” Robb said. “Law firms haven’t thought a lot about se­cu­rity in the past, but they have a lot of pay­ment data and sen­si­tive client data.”

Ac­quir­ers have an op­por­tu­nity to ed­u­cate in ver­ti­cals not pre­vi­ously en­gaged in card pay­ments to build a re­la­tion­ship, Robb added.

“Law firms haven’t thought a lot about se­cu­rity in the past, but they have a lot of pay­ment data and sen­si­tive client data,” said Steve Robb, SVP of prod­uct for Con­trolscan.

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