Though we may have come across the need to be PCI DSS compliant, from the layman’s perspective, we may not exactly be aware as to what it is all about. We need to understand that serving our customers is much more than just offering great services and products. It is also not only about being proactive in our after-sales services. It also is about protecting the data and other sensitive personal information of the customers. It is about ensuring that payment data is protected at all points of time. This is where the role of PCI DSS compliance standards come into being and they certainly have a big and important role to play. Only those who have the right experience and expertise would be able to handle the complexities surrounding PCI DSS compliance. Merchants, in particular, should be compliant on this requirement so that they are always on the right side of the law and also they take care of the debit and credit card token information of their customers.
Some Basics About PCI Compliance
It comes with 12 security requirements that are mandated by credit card networks. This is a standard that applies to any business where there is a need for processing, transmitting and credit card information. The size of such transaction could be huge in many big organizations and therefore one needs to understand how important and how vital is the need to have such systems, practices and mandatory requirements in place. We are sharing below a few of the requirements that these 12 security requirements talk about.
- Each and every merchant must be PCI compliant at any given point in time.
- There are some specific types of information pertaining to credit and debit cards that should not be stored. These include CVC2 and CVV2 codes.
- There are some laid down security standards for storing information about debit and credit card details of customers. This is with regard to the expiration date, name, and credit card number and so on.
- There is an annual SAQ or Self Assessment Questionnaire which should be gone through so that the establishment can be reasonably sure that it is fully PCI compliant. Any establishment that fails to meet such standards would be liable for penalties. In spite of penalties, if they do not fall in line, then their compliance certificates could be canceled or suspended.
Advantages Of Hiring Professionals
When you hire the right professional you can be sure that you will be able to get the best of services. They will be able to come out with solutions that could seamlessly fit into the checkout and also ensure that the entire organization and its employees and other stakeholders are in line with the required compliance mandated obligations. It also will ensure that the vault securely stores customer payment information whether it is a one-time payment or recurring payment.
In fine, there is no doubt that having the right service provider is extremely important. You must, therefore, keep this compliant requirement in mind before starting your online business. This is as important as having the right products and services for your online business if not more.
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