Payment card industry data security standard (PCI DSS)
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Payment card industry data security standard (PCI DSS) compliance is mandated to ensure that all organizations that accept, process, store, and transmit credit card data maintain a secure environment, regardless of the number or the size of transactions. PCI standards for compliance are developed and managed by the PCI Security Standards Council.
Importance of PCI Compliance
An overwhelming number of standards and issues that have to be followed in order to comply with PCI Security Standards seems like a daunting task even for large companies, let alone smaller ones. However, PCI compliance is becoming increasingly imperative and today might not even be as problematic as it’s often assumed with the right software and services.
PCI compliance is a key component of any credit card company’s security protocol. It is generally regarded as mandatory by credit card organizations and discussed in credit card network agreements. Monitoring, assessments, and audits of PCI Standards are an integral part of the business’s security department.
Maintaining compliance is a top priority nowadays. PCI certification decreases the risk of data breaches by safeguarding cardholder data, therefore minimizing the chances of identity theft. It improves a company’s brand reputation, protects your customers, which results in customer confidence and brand loyalty.