PCI stands for Payment Card Industry, and DSS stands for Data Security Standard. Why does it make sense to follow PCI Security Standards Council for PCI compliance? Many small and medium size business owners have complained about the complicated nature of the PCI data security standard, and stated that it adds to the administrative burden, regardless of whether they already have excellent security procedures in place in their enterprise. Regardless of such complaints, there are reasons of import as for why it makes sense to comply with the PCI DSS standards. The three main reasons are: Payment Card Industry has years of experience, Compliance with PCI security standard will give you ideas on how to protect your own data, and last but not least, You may not have a choice. Let's see all these reasons in detail.
The cards can actually be issued by one of these companies or by a bank that has a contract with one of these companies. Now the companies will also make deals with some merchants and even some online merchants in order to make sure that they accept their card and their logo. Keep in mind that there is always going to be a PCI compliance deadline to consider. As a merchant when you accept credit cards then you are required to operate under certain PCI compliance requirements. All of these will be outlines in your merchant agreement that you signed when you started accepting credit cards.
Level 3: Your company has 20,000 to 1 million Visa and/or Mastercard e-commerce transactions processed per year. You must complete a Self-Assessment Questionnaire (SAQ) annually, and this level also requires a network scan with an approved scanning vendor. Level 4: You have less than 20,000 Visa and/or Mastercard e-commerce transactions processed per year. Must complete a Self-Assessment Questionnaire (SAQ) annually, and requires a network scan with an approved scanning vendor.
This might include a deadline in which certain things might have to be completed in a specific time frame. The things that they PCI compliance is asking for are not anything that should not already be done anyways. They maintain that you have to have a secure connection and that there are appropriate firewalls preventing someone from being able to hack into the system by the compliance deadline.
They may also charge you higher fees. On the other hand, if you continue to process transactions through Visa and Mastercard when non PCI compliant, and avoiding a PCI audit, you may face steep fees and penalties, especially in the case of the breach and compromise of cardholder information. Don't take PCI compliance lightly, it is really important.
The cards can actually be issued by one of these companies or by a bank that has a contract with one of these companies. Now the companies will also make deals with some merchants and even some online merchants in order to make sure that they accept their card and their logo. Keep in mind that there is always going to be a PCI compliance deadline to consider. As a merchant when you accept credit cards then you are required to operate under certain PCI compliance requirements. All of these will be outlines in your merchant agreement that you signed when you started accepting credit cards.
Level 3: Your company has 20,000 to 1 million Visa and/or Mastercard e-commerce transactions processed per year. You must complete a Self-Assessment Questionnaire (SAQ) annually, and this level also requires a network scan with an approved scanning vendor. Level 4: You have less than 20,000 Visa and/or Mastercard e-commerce transactions processed per year. Must complete a Self-Assessment Questionnaire (SAQ) annually, and requires a network scan with an approved scanning vendor.
This might include a deadline in which certain things might have to be completed in a specific time frame. The things that they PCI compliance is asking for are not anything that should not already be done anyways. They maintain that you have to have a secure connection and that there are appropriate firewalls preventing someone from being able to hack into the system by the compliance deadline.
They may also charge you higher fees. On the other hand, if you continue to process transactions through Visa and Mastercard when non PCI compliant, and avoiding a PCI audit, you may face steep fees and penalties, especially in the case of the breach and compromise of cardholder information. Don't take PCI compliance lightly, it is really important.
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