What is PCI Compliance?
The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that all businesses who accept, process, store or transmit credit card information do so in a secure environment.
The Payment Card Industry Security Standards Council (PCI SSC), an independent body that was created by the major payment card brands (Visa, MasterCard, American Express, Discover and JCB) was launched in 2006 in order to manage the Payment Card Industry (PCI) security standards with a focus on improving payment account security throughout the transaction process.
Failure to meet the requirements of PCI DSS compliance means you may be subject to huge fines which can ultimately have a detrimental affect on your business.
Although this all may sound like a great deal of work - the benefits are significant:
Reduces the risk of data breaches
Helps you avoid expensive fines
Protects customers’ sensitive data
Simplifies global regulatory compliance
Provides peace of mind for everyone