Step 5: Implement and maintain a proper tracking and reporting system
Communication is crucial between the acquiring bank, ISO, merchants and the third party ASVs and QSAs. It's imperative that the acquiring bank track and report all of its progress with the merchants and third-party providers.
As discussed in the introduction to this article, Visa is implementing a program for Level 4 merchants and acquirers. Acquirers are now responsible for obtaining a project plan from all of their Level 4 merchants, which outlines what steps the merchant is taking to become PCI compliant.
"Track your efforts as an acquiring bank," explained Stanton. "Make sure that your communication strategy has been effective," Stanton added.
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Introduction
Who is the acquirer?
Step 1: Engage all internal resources
Step 2: Acquirers and ISOs-Identify and partner with a qualified ASV and/or QSA
Step 3: Engage all external resources to make your merchants aware of PCI Compliance
Step 4: Supply the tools that the merchant needs for PCI compliance
Step 5: Implement and maintain a proper tracking and reporting system
Other considerations for acquirer and third-party provider back-end best practices
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