It really wasn't the banks behind it. Privacy laws were and they have been no picnic for the banking or credit card industries.

My sincere advice is if you are in your estimated 95% of non-compliant businesses, get compliant. This is serious stuff.


>>I am not trying to be Mr. Gloom and Doom. I just work for a credit card payment processor and deal with this stuff every day. My guess is 95% of the merchants out there don't understand the gravity of the new rules.
>
>Well 95% of business are not compliant and my guess that Visa/Mastercard isn't going after these businesses if they plan on keeping their cash cow that is processing fees.
>
>Compliancy would basically disqualify 90% of merchants from ever taking credit cards because true compliance is ridiculously complex and prohibitively expensive.
>
>No doubt though security is important REGARDLESS of the Visa/MC rules. <s>
>
>But it's just another one of those things that banks rammed through congress screwing the consumer and merchants in favor of the big banks.