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Home / Services / PCI DSS Compliance

PCI DSS Compliance

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PCI DSS Compliance

It is mandatory that all businesses that use credit cards online require PCI DSS compliance. Whether the businesses only processes small monthly payments or thousands, all business have to be compliant and register.

Requirements:

For the majority of businesses, is an Annual PCI Self Assessment Questionnaire and a Quarterly Network Scan.


Why?

Internatrional Compliance of credit card processing for businesses of all sizes was required as 80% of all ID theft traced directly back to small businesses. Card fraud losses equate to approximately £1 million per day for every day of the year. There are heavy penalties for non compliance. As since October 2006, Visa alone has issued $ 3.3 million in fines for non compliance. The fines for negligence make you personally liable where you are personally liable to replace loss. Additionally, you can also be blacklisted to never be able to accept payments

Payment Card Industry Data Security Standard

Payment Card Industry Data Security Standard (PCI DSS) is a set of 12 requirements that all businesses who handle credit or debit card payments must comply with. It provides business best practice guidelines to establish a "minimum security standard".

PCI DSS is a mandatory industry regulation. Becoming compliant can help your business and avoid future problems with data security.


How PCI DSS can help your business:

  • Identify risks in the way you store or transmit customer data
  • Set a clear path of action to address any data security risks
  • Make sure your service providers do not put your data security at risk
  • Show your customers that you take data security seriously

Criminals main target is Cardholder Data. As data in a magnetic stripe or chip on the credit or debit card hold the primary account number (PAN) that contain sensitive authentication details


How PCI DSS can help you avoid problems:

  • Reduce the risk of liabilities such as the cost of any fraud on compromised card accounts. Less sales due to fear of breaches and general brand degradation. You can be blacklisted to never be able to accept payments
  • If your security is breached, legal and investigation costs can be substantial. Fines and penalties for non-compliance with PCI and other regulations such as the data protection act.
  • Loss of customer confidence. Protect your reputation and build trust with your customers
  • Prevent disruption to your business by having protection and processes already in place

PCI DSS limits the range of responsibility to protecting customer cardholder data with IT security technologies and processes that specifically cover the payment area, such as:

  1. Payment card readers used to swipe and collect data.
  2. Point of sale systems - including digital devices.
  3. In-store and across-store networks and devices -servers,wireless routers etc
  4. Payment card data storage and online transmission to the merchant service provider.
  5. Ensure that third-party service providers are also PCI Compliant.
  6. Access control to the credit card processing systems.
  7. Network monitoring, scanning and vulnerability management.
  8. Company security policy

PanoSec assists businesses with PCI DCC Compliance in order to protect cardholder data.