Credit Card Data Security Standards
We often receive questions from members and associations
about the security of NAR systems and the Realtor Ecommerce Network.
The Realtor Ecommerce Network credit card transactions
are processed for payment by First Data Merchant Services (FDMS), the largest credit
card processor in the US. (First Data also owns Telecheck and also part of Paymentech).
FDMS meet all the credit card security standards as does the gateway from Realtor
Ecommerce into the credit card companies which is Verisign, also certified as secure
per the industry data security standards.
As far as NAR, our systems are behind firewalls
and all data is encrypted with the highest level of encryption. No credit card information
is stored on our web servers. Because we are so large, we must undergo an outside
security scan by Visa/MC every quarter and we have passed every quarter so far as
meeting the Payment Card Industry Data Security Standards. We are also required
to have an independent on-site technology security audit every year which we also
pass. NAR also has CyberFraud insurance from Lloyd’s of London that insures us against
attacks against our systems, both internal and external.
As studies have shown, the vast majority of credit
card and check fraud occurs ‘in person’ more than via the Internet. As long as members
know they are on a trusted site, such as NAR or their association’s web site, and
they see the site is secure (https) their information is secure. Also, as long as
that merchant site, such as Realtor Ecommerce, meets the Payment Card Industry Data
Security Standards, the credit card companies are also validating the safety of
their data. More fraud still occurs in person with the order entry clerks, the store
clerks, the waiters, the accounting staff, the mail, etc. than online so members
should be aware they are actually more secure online as long as they work only with
known, secure sites.