Evaluation Criteria for EMV Compliance

Payment processing companies which have extensively met the various EMV compliance standards can be hard to come by. topcreditcardprocessors.com has evaluated a large number of payment processors and has worked to identify the best payment processors who engage in extensive security testing processes to ensure that information is sufficiently secured and encrypted while ensuring that various aspects of communication and data storage are being monitored in real time. Our evaluation process has been created for those looking for the most secure payment processing solutions available in the industry with a focus on EMV compliance.

There are five key areas identified by topcreditcardprocessors.com as significant for providers of EMV compliant payment processing solutions:

The security processes and procedures set in place by the processing service are evaluated to understand how the security process accounts for access, potential exploits, various credentials, and access auditing. The security firms and professionals involved in the process are also taken into consideration to better understand the security strategy and standards being implemented.

The overall efficiency of the payment processing solution is critical for EMV compliant payment processors to ensure that while security considerations are implemented, the payment processing solution is still quick and efficient.

The active monitoring processes and procedures put into place for security are inspected to understand the average response time for potential issues being identified and successfully resolved.

How the payment processor deals with encryption is analyzed to understand the various encryption methods being used, the mechanics and practice behind them, and how they contribute to the overall security of the solutions. Where the encryption is implemented and through what communication channels is also important.

The ability for the payment processor to be able to communicate efficiently with their merchants is taken into consideration during the evaluation process. Having a payment provider which is capable of providing answers to questions while providing solutions to their merchants problems ensures that the merchant is going to be able to continue to process their payments.

General Questions

  • How did you find your current payment processor?
  • What other payment processors, if any, have you used?
  • How many transactions do you process per month?
  • What would be three things you would change about your experience?
  • Rate your overall experience (1-10; 10 being the highest).

Specific Questions

  • What type of process was used to examine your security and information retention?
  • What type of advice was provided by the service provider?
  • Did you require any major hardware and software updates?
  • How in-depth was the analysis provided by the service provider?
  • How long did it take the service provider to finish their analysis and provide their results?


 

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