IT Services for Automotive Retail
Whatever the size of your automotive dealership group, you need a fast, secure, and efficient infrastructure to support your staff selling and servicing vehicles, backed by a responsive & proactive IT services partner.
The right IT partner will:
A: PCI is a set of security standards put in place 2006 to protect consumers’ credit card information. It mandates that all companies that accept, process, store or transmit credit card, debit card, and pre-paid cards information must maintain a secure environment to protect this data.
The PCI standards are managed by the Payment Card Industry Security Standard Council (PCI SSC), enforced by large payment card brands (American Express, Discover, JCB, MasterCard, and Visa International), and audited by qualified PCI auditors.
In addition, The Federal Trade Commission (FTC) is responsible for regulating consumer privacy and security. This means they could play an additional role in enforcing PCI violation penalties. Learn more here.
In general, PCI compliance is required by credit card companies to ensure that online transactions are secure and protected against identity theft. The current standards can be found here.
A: Every merchant that accepts client credit card payment and processes, stores, and transmits this data must be compliant. Even if you take credit card information over the phone, do not store the data, or work with third-party processors, you must still comply with PCI.
A: Compliance failure increases your risk of a security breach, which can lead to hefty penalties, fines, and loss of your merchant account. If you lose your merchant account, you will no longer be able to process credit card transactions and impact your profitability.
A: There are many costs, on top of PCI penalties, when your company experiences a data breach. According to SecurityMETRICS, these costs include:
- Merchant processor compromise fines: $5,000 – $50,000
- Forensic investigation: $12,000 – $100,000+
- Onsite QSA assessments following the breach: $20,000 – $100,000
- Free credit monitoring for affected individuals: $10-$30/card
- Card re-issuance penalties: $3 – $10 per card
- Breach notification costs: $2,000 – $5,000+
- Technology repairs: $2,000 - $10,000+
- Increased in monthly card processing fees
- Legal fees
- Civil judgments
“Some of the great things about working with Cooperative Systems are that they’re constantly proactive, they’re always monitoring our systems while ensuring that we’re operating at full efficiencies. Without their partnership, it would be difficult to navigate our ever-changing environment. We love the fact that we can reach out to their senior management and when we do, the issue is resolved very quickly. They are professionals who are at the top of their game and truly always learning the ins and outs of our business and the IT world overall. The fact that we know that someone is always there at Coopsys is critical. One of the other things that I appreciate is that the faces never change. Knowing that we’ll be dealing with the same professionals is really important to us. The single biggest reason I’d recommend Cooperative Systems is because they always have their clients’ best interest at heart. They value their relationships with their clients which is also one of the pillars of our business model.”
Vice President, Herb Chambers Companies