6 reasons to comply with the PCI DSS Standard.

4th May 2016
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6 Reasons PCI DSS Compliance

The Payment Card Industry (PCI) has developed a Data Security Standard (DSS), which is a set of requirements that are designed to ensure that all organisations that process, store or transmit credit card information maintain a secure environment, thereby improving payment account security throughout their entire transaction process.

As a merchant, there are a number of reasons why obtaining PCI DSS compliance is vital to your business.

More often than not, you first find out about PCI compliance when you receive a letter saying that you have changed ‘level’ and that you have additional PCI obligations that you need to satisfy. The next question is to determine who is responsible for PCI compliance.

The answer to that question is that everyone in your organisations is responsible for your PCI compliance!  You need to be in a position to ensure that your entire team handles your customer’s credit/debit card data carefully. This is done by ensuring that you have the tested systems and processes in place to handle all data sensitively, and that often comes down to working closely with your IT team or trusted IT Services provider.

6 Reasons to comply with the PCI DSS standard:

  1. Should fraud take place and should it be proven that you are not PCI compliant, you will be responsible for compensation for any fraudulent activity caused by your lack of suitable security measures.
  2. Additionally, you may be subject to expensive legal action based on your non compliance and lack of due care.
  3. You will have to temporarily cease trading and face potentially extensive remediation costs as you investigate any fraudulent activity and while you get your systems and organisational culture up to the required PCI DSS standard.
  4. Once trading again, and depending on the public exposure that you have been exposed to, you will then have to take measures to rebuild trust in your brand and your approach to your customer’s security and data.
  5. Any failure to comply with PCI standards will undoubtedly lead to a fine.
  6. Obtaining PCI Compliance is also good practice. Becoming PCI compliant should be seen as more than just an IT burden. It should be seen as an opportunity for you to review your IT infrastructure and processes and, by engaging with an experienced IT Service provider with a proven team, you can be sure that you are implementing PCI standards as best practice as you go.

Having discovered the reasons why you should comply with PCI DSS standards, even if you have not received a letter regarding your PCI compliance, it is incredibly wise to engage with an IT Services provider that has proven IT infrastructure solutions and extensive experience working closely with experienced Qualified Security Assessors (QSA) in order to ensure that you meet the agreed PCI DSS standards at all times.

Contact us on 0333 123 0360 or contact us online to start your PCI compliance journey. 

Learn more about our PCI DSS Compliance solutions and how we can help you with your Retail PCI DSS Compliance and your Restaurant PCI DSS Compliance.

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  1. Pingback: 8 steps to obtain PCI DSS compliance

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