It seems that every month another large retailer is in the news for being the victim of a significant credit card data breach. Retailers such as Target, Neiman Marcus, and Michaels are all currently struggling to restore consumer confidence and regain their financial footing in the aftermath of a major data breach. For these companies, the financial impact will be measured in the millions of dollars after lost business, corrective IT action, credit card replacement costs, and fines are all added up.

What you may not realize is that for every large breach reported in the media, there are thousands of smaller breaches. These breaches occur every day and retail merchants, including pharmacies, are the prime targets of cyber criminals. These criminals know that independent retailers often lack the technology, expertise, and resources to thwart their efforts to steal credit card information. In fact, a successful breach of an independent pharmacy’s credit card data can result in direct costs to the pharmacy of $80,000 or more. Moreover, when a breach is finally discovered, the forensic investigation typically reveals that the breach actually occurred many months before it was detected. Perhaps the most sobering trend is that the cyber assault on retailers shows no signs of slowing down anytime soon.

To combat this escalating problem, credit card providers required that institutions such as Bank of America Merchant Services (BAMS) – the merchant services provider of MPS&A – obtain proof of compliance with the Payment Card Industry Data Security Standard (PCI DSS) from its customers before the end of 2013.

MPS&A responded quickly to this directive and developed a suite of PCI Services to help our customers achieve PCI-DSS compliance with BAMS. These services are provided by in partnership with McKesson’s PCI and Security partner, ANX.

Pharmacies enrolled in McKesson’s PCI Protection Plan can receive up to $100,000 of data breach protection. The plan also covers pharmacies that may have been breached prior to joining the plan, but have not yet realized that their data has been compromised. McKesson also helps pharmacy owners reduce the risk of costly data breaches with options to upgrade security technology and by assisting them with the completion of the mandatory PCI Self-Assessment Questionnaire.

There is clear evidence that PCI compliant pharmacies are far less likely to become victims of a data breach. Take advantage of the resources that McKesson offers to keep your business safe. 

Visit www.McKessonPCI.com to learn more about McKesson PCI Protection Plan.

PCI Compliant Pharmacies are less likely to experience data breaches