What Is PCI Compliance?
PCI compliance is a set of standards and guidelines that all companies processing credit card information must adhere to. Being compliant is extremely important for both the business and customers involved in transactions. In this video, we discuss what PCI compliance is, what the standards for compliance are, and how your business can meet these standards to protect your customers and avoid penalties by credit card companies.
Before a company is allowed to process credit card information, it must first be PCI compliant. This means that most businesses throughout the US have to meet these standards to do transactions. The PCI compliance standards are set by credit card companies to ensure that all transactions completed with credit cards are safe and secure.
Having these guidelines in place helps protect credit card users so that they can feel safe knowing that their information will not get stolen. If a company were to not meet these standards, customers would be put at risk, and their data could be used by others through fraud.
For more background on PCI compliance, in 2006, the PCI Standards Council was created to manage the security of credit cards and the transitions done with them. The council put together the Payment Card Industry Data Security Standards, with six major objectives, twelve key requirements, 78 base requirements, and over 400 test procedures.
The six major objectives are as follows:
- Build and maintain a secure network and systems
- Protect cardholder data
- Maintain a vulnerability management program
- Implement strong access control measures
- Regularly monitor and test networks
- Maintain an information security policy
As per their card processing agreements, all businesses that process credit card information must meet these standards. If not, they are subject to fines, and they are also putting their customers at risk. If you have more questions about PCI compliance and how to meet these standards, contact us online or by phone. At Teamspring, we have a group of skilled IT experts who are able to help with all your PCI compliance needs.