We are in the midst of a 'shop online' trend explosion. Internet retailers are continuously reinventing how we [customers] shop online. Whether it's via our mobile devices, PCs, or in-store kiosks, there is a myriad of new options for transacting business that carry both positive and negative implications for the consumer and the retailers themselves. We need to know that our online stores are following the pci compliance standards.
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.
Why Should I Comply? As a merchant, you are probably wondering why you need to comply with the PCI Security Standards. These strict guidelines seem like a lot of effort, especially to small organizations. However Payment Card Security is becoming increasingly important and implementing precautionary measures could be potentially business saving. Some of the reasons why (as highlighted by the Compliance Council*) it would benefit to comply with the Security Standards are: Compliance with the standards means that your systems are secure, and customers can trust you with their sensitive payment card information. Trust means your customers have confidence in doing business with you.
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.
By narrowing down what level and type of merchant you are, you're well on your way to becoming compliant. The PCI Compliance standards are important to you as a business and in order to keep your customer information safe and secure.
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.
Why Should I Comply? As a merchant, you are probably wondering why you need to comply with the PCI Security Standards. These strict guidelines seem like a lot of effort, especially to small organizations. However Payment Card Security is becoming increasingly important and implementing precautionary measures could be potentially business saving. Some of the reasons why (as highlighted by the Compliance Council*) it would benefit to comply with the Security Standards are: Compliance with the standards means that your systems are secure, and customers can trust you with their sensitive payment card information. Trust means your customers have confidence in doing business with you.
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.
By narrowing down what level and type of merchant you are, you're well on your way to becoming compliant. The PCI Compliance standards are important to you as a business and in order to keep your customer information safe and secure.
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