PCI DSS Certification: Importance of Getting Compliant

ByManojweblink
PCI DSS Certification Consultants

Thanks to the rising increase in data breaches, the need for ‌amendments and regulations to the PCI DSS is getting important. Getting PCI compliant is an integral aspect. PCI DSS or The Payment Card Industry Data Security Standard refers to a series of security standards. 

The standard dates back to 2004 and was formed by American Express, JCB Internation, Discover Financial Services, MasterCard and Visa. PCI SSC or Payment Card Industry Security Standards governs the PCI DSS-compliant scheme to secure debit and credit card transactions against fraud and data theft.

But why do you need to hire PCI DSS certification consultants for your business?  PCC-SSC might not have the legal authority to make compliance compelling. However, it is a need for every business that processes debit and credit card transactions.

PCI DSS Certification

PCI certification makes sure that the card data’s secure through a series of PCI 

SSC-established requirements. These cover several widely common practices like:

  • Firewalls installation
  • Data transmissions encryption
  • Antivirus software usage

Additionally, the business should restrict cardholder data access and evaluate access to network resources. PCI-compliant security offers a precious asset that lets your customers know that your business is safe for the transaction. 

What Happens in Case of a Data Breach?

Data breaches revealing sensitive customer details can have a serious impact on an organization. A breach might lead to fines from diminished sales, lawsuits, payment card issuers, etc. Besides, it can also tarnish your reputation. The business might be compelled to access credit card transactions if they experience a breach. 

They might even be forced to pay significant subsequent charges more than the initial security-compliant cost. Investing in PCI security procedures is key to ensuring that other parts of your commerce are safe from malicious online threats. 

The Different Levels in PCC DSS Certification

PCI compliance is separated into four different levels, based on the annual debit and credit card transactions ‌a company processes. The classification level evaluates what the organization must do to stay compliant.

Level 1: Applies to merchants that process more than 6 million real-world debit or credit card annual transactions. The PCI auditor conducts it and the merchants are required to undergo an annual internal audit. Additionally, they must be submitted by an Approved Scanning Vendor to a PCI scan.

Level 2: Application to merchants that process anything between 1-6 million annual debit or credit card transactions annually. They are expected to complete an annual assessment with a Self-Assessment Questionnaire. Besides, a PCI quarter scan might be needed.

Level 3: Applicable to merchants that process between 20,000-1 million e-commerce annual transactions. They must complete an annual assessment using a relevant SAQ.

Level 4: Application to merchants that process less than 20,000 e-commerce annual transactions. Or it is an application for those merchants that process upto 1-million real-world annual transactions. A PCI quarterly scan might be needed and an annual assessment might be completed using the relevant SAQ.

Getting PCI DSS certified means ensuring that your company doesn’t take its security protocols less seriously but rather prioritizes them. It means you are doing your best to keep your payment data and information safe. To retain your customer’s trust in your company regarding the safety of data, make sure to consult a PCI DSS consultant today.