Your customers depend on you to protect their personal data and payment information—especially when paying with a card. And to help protect cardholder data and prevent payment fraud, the card networks – Visa, MasterCard, American Express, and Discover – developed the Payment Card Industry Data Security Standard (PCI DSS).
It’s a set of required controls and practices for businesses so they meet minimum levels of security when they collect, store, process, and transmit cardholder data.
The 6 requirements of PCI DSS:
1. Build and maintain secure networks and systems
2. Prioritize the protection of cardholder data
3. Maintain vulnerability management programs
4. Implement strong access control measures
5. Regularly monitor and test networks
6. Maintain an information security policy
No matter the industry or what size business you have, payment data needs to be securely protected. Even if you only process one credit card transaction per year, the PCI DSS standards apply to you. When you’re PCI compliant, you’re taking steps to keep your customer data safe, which helps increases their trust in your business.
With PCI compliance, you’ll:
- Increase consumer confidence
- Increase data security
- Minimize fraud
Protect your business.
PCI compliance is a great way to help minimize suspicious or fraudulent activity and data theft. Without it, if a data breach occurs, your business may have to pay penalties and fines and could lose the ability to accept card payments.