09-28-2007, 11:12 AM
Quote: Although faced with deadlines this fall that carry stiff fines from Visa for improper network storage of credit card data according to the PCI Data Security Standard, many merchants still see that data storage as crucial to customer service and sales, says data security expert David Glaser, vice president, worldwide professional services, CyberSource Corp., a provider of payment processing and security software and services...
Retailers often like to support recurring purchase transactions with data stored in online accounts or e-wallets, for example, and to have payment card account data handy to be able quickly process refunds without having to ask a customer again for their account information, Glaser notes. Stored account data also can be useful when trying to reconcile records of chargebacks, or cases where a transaction is charged back to a merchant because the card holder denied making a purchase, Glaser says...
full article: http://www.internetretailer.com/dailyNews.asp?id=23896