In today’s world, there are massive data breaches that occur, and no company or individual is safe. In order to prevent these fraudulent practices, the Payment Card Industry Data Security Standard formed a set of standards that comes to the rescue. PCI DSS was adopted to maintaina set of requirements for cardholders’ data protection across the industry. PCI DSS requirements provide defense for merchants and service providers against data exposure.
We at GEC Certification, as a certified PSI-DSS member, assist our merchants and financial institutions in understanding and implementing the PSI-DSS so that their business system is free from breaches and theft of cardholder data. As consultants qualified to deliver PCI DSS services along with ISO service, we help you protect your brand, your customers, and your cash flow.
Doing business should be based on trust, and PCI compliance improves the level of security. The PCI DSS is a consortium of five large payment card providers Visa, MasterCard, Discover, American Express and JCB. The PCI DSS comprises of a set of 12 requirements that outline the security measures that merchants must take while processing card payments. In a recent study, the overall PCI compliance has increased among global businesses and risen to 55.4%. Cybersecurity is a highly sensitive area to financial institutions and companies that operate with customer data. For the successful implementation of these standards, each organization must comply and understand the benefits of being PCI compliant. By ensuring these benefits, the companies aim at protecting the cardholder data.
Any merchant who does business by accepting card payments must comply with PCI DSS. The standard also outlines the merchant based on the amount of transaction processed each year.
The key consideration while building an IT infrastructure is data compliance and management, especially while handling customer sensitive data. As the merchants need to adhere to the strict firewall and data encryptions, they do not retain any cardholder details and hence reduces the effect of cyber-crimes.
Trust is the basic essential foundation for any e-commerce business. With the belief that the seller would sell them the actual product purchased and that you will securely transfer, the payment details are the bases of any business. By ensuring and offering the international standard of secure payments, you tend to gain the trust and belief of the customer. So by being PCI compliant, you are guaranteeing this to the customer.
The PCI DSS standard was designed by 5 leading credit brands that ensured to provide a mandatory level of protection and security to the customers. This compliance level ensures that merchants meet a minimum level of security while they store, process, and transmit cardholder data. With PCI compliance, your businesses also get a space among international retailers who are committed to data security.
The PCI DSS compliance makes sure that multiple layers of security are configured through a proper firewall mechanism. The business should ensure that they have a strong IT security strategy that monitors the network’s unpatched holes, lapses, and reduces vulnerabilities. We at GEC Certification helps you understand your requirements and assess the current state of compliance, check for any gaps and threats, and support you to find remedies to fill the gaps to achieve the PCI compliance. It is very critical in maintaining compliance by adhering to the process and standards.