Abbreviation for Payment Card Industry Data Security Standard, PCI DSS, is an information security standard put together by Payment Card Industry Security Standards Council, which is formed by card issuers. Its main goal is to create further protection for card issuers by ensuring that merchants meet minimum levels of security when they store, process, and transmit cardholder data.
PCI DSS compliance mitigates the risk of data breach and protects the customer, helps organisation avoid fines by taking mitigation actions beforehand and supports business continuity.
PCI DSS compliance increases reputation and increases credibility among stakeholders such as other financial institutions, governments, etc. It enhances reputation and increases credibility among stakeholders besides consumers such as other financial institutions, governments, etc. Also, PCI DSS creates a main security framework that is accepted globally. This enables multiple organisations to do business with the peace of mind that the other party, if PCI DSS compliant, is a secure business partner.
What are the benefits of being PCI DSS compliant?
- Managing risk around identity theft and credit card fraud
- Boosting customer’s confidence in your security
- Increasing protection of customer’s data
- Avoiding penalties/fines imposed by banks or card companies
- Staying competitive in the marketplace
- Reducing the risk of negative cash flow impacts
- Serves as a Globally Accepted Standard
To achieve PCI DSS, drop us a line so our experts can contact you for an introductory meeting. training@cfecert.co.uk
