What is PCI compliance?
PCI Security Standards are developed and maintained by the PCI Security Standards Council to protect payment data throughout the payment lifecycle. The different PCI Standards support different stakeholders and functions within the payments industry. For more information about PCI compliance, you can visit the PCI Security Standards Council's website: www.pcisecuritystandards.org
Understanding the Difference Between a Merchant Account and a Gateway Provider:
Merchant Account: A Merchant Account is a type of bank account that allows your business to accept credit card payments. It holds funds until they are transferred to your business's bank account. This account is directly involved in the processing of payments.
Payment Gateway: A Payment Gateway is a service that securely authorizes credit card payments. It acts as a bridge between your website (like Rentopian and/or the website you are syncing your Rentopian account with) and the Merchant Account, securely transmitting payment information from the customer to the bank for processing.
How This Affects PCI Compliance:
PCI Compliance: Payment Card Industry (PCI) compliance is a set of security standards to protect card information during and after a financial transaction. Merchant Account providers often handle most of the compliance requirements since they are directly involved with handling and storing sensitive payment data. Your Merchant Account provider may or may not be the same as your Payment Gateway service.
Relation to Rentopian:
Rentopian’s Role: Rentopian integrates with payment gateways to facilitate card transactions but does not handle or process the payments. Therefore, Rentopian is not involved in your PCI compliance obligations or any related fees. However, our team is happy to help you implement any guidance or instructions provided by your Merchant Account provider to ensure you meet their requirements for PCI compliance.