PCI DSS Compliance: A Basic Guide

Posted on 14.2.2017
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Written by Eva Ciga

PCI DSS (Payment Card Industry Data Security Standards) were created by the most popular credit card companies in the world. They were developed to prevent frauds related to credit card use whenever stores and other entities process credit card transactions. PCI DSS sets requirements for security policies, management and procedures that will keep consumer’s identity and credit card information safe.

Why do I need a PCI compliance is a common question asked by many merchants today. This is quite natural because with all the laws and regulations many of them simply don’t want to get involved in something that is not required by the law. However, every merchant must understand that PCI security standards are all about making sure that you, as a responsible merchant, are doing your best to protect your business and your clients/customers by complying with the latest security standards that guarantee secured credit card processing.

Why is it important to have PCI DSS Compliance if you are a merchant?

First of all, this compliance is mandatory for every merchant that processes, stored or transmits credit card data. If you are not compliant, then the major credit card companies can restrict your privilege to process such transactions. In addition, there is a risk of fines too.

In order to understand why it is important to have this protocol, it may be a good idea to learn more about what PCI DSS does for merchants. For example, it keeps cardholder data safe when it is transmitted over a firewall security system.

Furthermore, it keeps the cardholder data stored in the system safe and doesn’t allow physical access to this data. The transmission in these networks is encrypted for added security and safety.

Another interesting fact is that PCI DSS compliance is mandatory for every online merchant that accepts debit and/or credit card payments over the Internet. This is quite logical because the information provided by consumers is sensitive. And it must be protected in the best possible way. So, when consumers are using an e-commerce website that is PCI DSS compliant, they know that they can conduct secure online payments. The main objective of PCI DSS is to lower the chances of credit/debit card data loss. With this protocol, merchants can learn how to prevent, detect and react in cases of data breaches. PCI DSS protocol provides protection for consumers and merchants.

Why should a merchant care to choose a provider with this protocol?

There are many PCI DSS solution providers out there, but they can be quite different. Your basic objective as a merchant should be finding a provider that will make PCI DSS compliance easy and simple. Of course, you can always take care of PCI DSS compliance on your own, but this takes time and effort. With the help of professionals in this field, you will be able to use secure payments systems without worrying about security and PCI DSS compliance. The best idea is to opt for tailored solutions.

See also:

Accepting Online Payments for Startup companies – Why to Create a Merchant Account

4 tips for merchants how to prevent chargebacks

Open Payment – the Future of Payments?

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Further reading

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