PCI compliance is mandatory for any eCommerce site that accepts credit or debit card payments on the website. All information entered by customers is sensitive data, so they need to be well protected.
PCI DSS includes steps that all merchants who process card payments, store or transmit credit, debit or prepaid card information must follow to ensure secure transactions. The main purpose of PCI DSS is to reduce the risk of bank and credit card data loss. It suggests how this can be prevented, detected, and how to react if potential data breaches occur. It provides protection for both merchants and cardholders.
It is important for customers to know that your website is secure. The number of scams has increased in recent years, so you should make sure that sensitive data on your website is protected.
Secure Data with PCI Compliance
Merchants store cardholder and sensitive authentication data on their websites, so they need to be secure and kept private. Technology is evolving so fast that there is an increasing number of fraudulent activities and businesses are facing many challenges. Therefore, every merchant or payment service provider with card payment solutions must be PCI compliant. Doing business is largely based on trust (between vendors and customers) and PCI compliance helps improve security.
Becoming PCI compliant is possible by passing a PCI audit procedure to meet the requirements of the PCI Data Security Standard. It depends on the amount of transactions processed annually and is divided into 4 different levels. Level 1 is for merchants processing the largest amount per year, and level 4 is for merchants processing the smallest amount.
PCI compliance applies to both the administrative and technological side of running a business and is updated regularly. PCI is an ongoing process and responsibility, so you need to incorporate a security strategy into your business. Analyze and regularly update your website to ensure that any vulnerabilities that could expose cardholder data are fixed.
PCI DSS guidelines contain 12 requirements for vendors and payment processors, grouped in six areas.
Businesses of all types, large and small, suffer from data breaches. Attackers focus on any vulnerability. Hackers know that most small businesses do not have adequate protection and often do not even implement basic security solutions.
Eliminate The Risk
When you run an online business, security is a very important issue. You must do everything you can to reduce the risk of payment and data fraud that can damage your brand’s reputation. A data breach is a serious problem and can result in lost sales and customers that will never return to your site. It also comes with potential financial liabilities such as fines, penalties, fees or higher compliance costs in the future.
As you can see, there are many benefits to being PCI compliant. It is crucial to the safety of your customers and affects the reputation of your business.
You can make your business PCI DSS compliant by contacting SecroMix.