by Dave Gavic
October 12, 2011 8:00AM
As a merchant today, I am sure you have heard some new terms like hacker, card holder data environment, breach, PCI, ASV and other words that you thought you would never encounter when you started in this business. Whether you have been in business for 20 years or just starting out, your vocabulary has been encumbered by an entirely new language. Today we will discuss about another term that should be incorporated into your everyday new “hip” vocabulary. Although only a short three letter acronym, this term is a major piece of the PCI compliance puzzle and directly tied to your ability to collect payments. SAQ, commonly pronounced “sack”, is a term that, as we evolve into the plastic payment era merchant’s should be familiar with for many reasons. SAQ stands for Self-Assessment Questionnaire, and if merchants do not fill out a SAQ the acquiring banks can levy fines, and possibly even take away the merchants ability to accept credit cards as a payment option leaving cash as the only viable form of payment. (more…)