Every business should make maintaining PCI compliance a priority in order to safeguard customer information. From restaurant to retail, service and government industries, every corporation that deals with card payments must ensure that it is following the compliance standard. As technology continues to evolve, so must our commitment to securing customer data against those who would steal it and engage in fraudulent activity.
What Is PCI Compliance? PCI (Payment Card Industry) compliance entails following the standards set forth by the industry. This is mandatory for all merchants that process, transmit, or store any cardholder data. If you accept payment through any form of payment card, then you are held responsible for becoming and remaining compliant. Whether you conduct business over the phone or in the mail, in store, or online, you still qualify as a merchant and are accountable to the industry standards. All credit card brands support the standard, including: Visa, Mastercard, Discover and American Express. To show your compliance as a business, you must possess a secure collection of customer data that is tamper-proof and ready for analysis. You also need to prove that data protection controls are in use, and that you have an auto-alert system that continually monitors access and usage of data.
Some business owners think that keeping up with PCI standards costs too much money and effort to be worth it. In fact, a security breach for a company of any size can have severe consequences. A small or medium sized merchant can face hundreds of thousands of dollars due to a security leak-and that is not all.
You may be wondering what compliance actually translates to in your business. It could mean performing self-assessment questionnaires to ensure that your company is on track, or it could mean removing the complete numbers and expiration dates of credit cards from receipts. Quarterly scans could also be conducted to scout out any vulnerability in your system and pinpoint troublesome areas. Perhaps your company needs to install new credit card processing equipment that offers Triple DES PIN encryption. Full compliance is an ever-changing task for businesses that needs steady attention-it is not a one-time achievement.
Aside from escaping monetary losses, there are numerous advantages to keeping your business compliant. Improving organizational security will help fend off hackers so that you can rest assured that cardholders' information is safe from harm. This will help build up your customer base, as happy and confident shoppers turn into repeat customers. Your overall brand image will be positive, showing your company as a responsible and productive member in the market that not only adheres to but also promotes PCI compliance. Business partners and investors will become confident in your capabilities as a company, and you will sleep more soundly at night knowing that you are doing everything in your power to protect your firm.
What Is PCI Compliance? PCI (Payment Card Industry) compliance entails following the standards set forth by the industry. This is mandatory for all merchants that process, transmit, or store any cardholder data. If you accept payment through any form of payment card, then you are held responsible for becoming and remaining compliant. Whether you conduct business over the phone or in the mail, in store, or online, you still qualify as a merchant and are accountable to the industry standards. All credit card brands support the standard, including: Visa, Mastercard, Discover and American Express. To show your compliance as a business, you must possess a secure collection of customer data that is tamper-proof and ready for analysis. You also need to prove that data protection controls are in use, and that you have an auto-alert system that continually monitors access and usage of data.
Some business owners think that keeping up with PCI standards costs too much money and effort to be worth it. In fact, a security breach for a company of any size can have severe consequences. A small or medium sized merchant can face hundreds of thousands of dollars due to a security leak-and that is not all.
You may be wondering what compliance actually translates to in your business. It could mean performing self-assessment questionnaires to ensure that your company is on track, or it could mean removing the complete numbers and expiration dates of credit cards from receipts. Quarterly scans could also be conducted to scout out any vulnerability in your system and pinpoint troublesome areas. Perhaps your company needs to install new credit card processing equipment that offers Triple DES PIN encryption. Full compliance is an ever-changing task for businesses that needs steady attention-it is not a one-time achievement.
Aside from escaping monetary losses, there are numerous advantages to keeping your business compliant. Improving organizational security will help fend off hackers so that you can rest assured that cardholders' information is safe from harm. This will help build up your customer base, as happy and confident shoppers turn into repeat customers. Your overall brand image will be positive, showing your company as a responsible and productive member in the market that not only adheres to but also promotes PCI compliance. Business partners and investors will become confident in your capabilities as a company, and you will sleep more soundly at night knowing that you are doing everything in your power to protect your firm.
About the Author:
Want to find out more about thepci compliance standards, then visit Kate Bailey's site on how to find the best information about the pci compliance standards for your needs.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.