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Six Often Asked Questions About PCI (following the law/doing as you're told) What does PCI DSS (following the law/doing as you're told) mean? PCI DSS stands for Payment Card Industry Data Security Standard, which sets the needed things for organizations and sellers to safely and securely accept, store, process, and transmit cardholder data during credit card transaction to prevent illegal dishonesty/stealing (by lying)and illegal computer break-ins. Who needs PCI DSS (following the law/doing as you're told) certification? Although there is technically no such thing as "PCI certification," sellers of all sizes, service providers, banks, and any other organizations that process credit card payments...
What's up with chip cards? They're way more secure than magstripe credit cards, but they can be slow to process which is frustrating for sellers and customers alike. Well, we've got some good news to share. We've just released a software update to the Square contactless and chip reader making it 25% faster to process chip cards. Our transaction speed (the time it takes from when you've dipped your card to when the payment is completed) is down to 4.2 seconds. Our goal is to keep improving our speed until we get it down to around 3 seconds.
A sample business day with Square Register: cash drawer management, accepting payments, and issuing refunds.