Commercial Banking

Clarien Payment Services

Customer punching her PIN number

Clarien Payment Services has the expertise and technology to help ensure that your business is equipped to meet today’s transaction demands in Bermuda and around the world.

Whatever your business, whatever the size, our dedicated Payment Services team will work with you to optimise performance with secure point-of-sale solutions and payment gateway services supported by feature-rich online reporting. You’ll process more sales and increase cash flow while protecting customer information and business data.

Propel Your Business to New Levels

As consumers increasingly rely on the ease and simplicity of debit and credit card payments, it is important that your business has the comprehensive tools and resources available to successfully complete payment transactions. Whether you’re managing a small business or large company, Clarien Payment Services makes it easy and affordable for you to offer your customers the option to make fast, secure credit card purchases.

The benefits to your business of accepting card payments include:

  • Increased ability to process more sales
  • Improved cash flow
  • Ease of tracking transactions
  • Reduce risk of fraud and loss .

Frequently Asked Questions

PCI DSS stands for Payment Card Industry Data Security Standard. This is a technical and broad-ranging set of security requirements created by the Payment Card Industry, outlining what business entities need to do to protect customer information. The PCI Council requires that business entities meet this set of security requirements if their business accepts, transmits or processes customer payment cards, such as credit cards or debit cards. Merchants that do not comply with these requirements can be penalized in a number of ways, up to and including having their card-processing privileges revoked, leaving them unable to accept customer payment cards.

PCI DSS applies to ALL organizations or Merchants, regardless of size, that accept, transmit, or store any payment card information. In other words, if any customer of that organization ever pays using a credit card or debit card, then the PCI DSS requirements apply.

To satisfy the requirements of PCI, a Merchant must do two things:

Comply with the Data Security Standard by meeting all of the requirements laid out in the Data Security Standard.

  • Validate compliance. This means the Merchant must prove that they are complying with the Data Security Standard. Merchants must complete the following within the Rapid Comply portal.
  • Annual completion and submission by the merchant of a PCI Self-Assessment Questionnaire (the SAQ); and Monthly network vulnerability scan.

No. The risk assessment tool is complimentary.

The Self-Assessment Questionnaire (SAQ) is a form that merchants are required to complete every year via Rapid Comply which is relayed to Clarien Merchant Services. It was created by the PCI Council. Completing a Self-Assessment Questionnaire helps merchants validate Compliance, by confirming compliance with the Data Security Standard and acknowledge to their Acquirer (Clarien) that they are in compliance with PCI DSS. Those merchants who are deemed medium to high risk ratings will be contacted by Clarien Merchant Services to review the SAQ and provide assistance with attaining compliance.

If your business fails to become PCI compliant, you could be putting your business at greater risk from the growing threat of payment card data breaches and theft, which may result in substantial penalties (such as fines from banks, regulatory agencies, and card associations), fraud and charge backs, as well as legal costs and lost customers. If your business experiences a data security breach, you could even lose your ability to process credit card payments. Perhaps more importantly, you risk the loss of customers.  We will monitor the completion of the SAQ document and revert back if your questionnaire is deemed medium to high risk.

Account Types
Clarien Smart Solutions
Your Trusted Advisors
Talk to a Clarien Representative today and learn more about how we can help you get started.
FX Services
For personalized FX services of $100,000 or more please call (441)294-5194 or email TreasuryQuery@clarienbank.com.