PCI – The Key Facts
The on-going security of cardholder data is important to both customers and retailers. Unfortunately, criminals are finding new ways to obtain this data, targeting compromised card readers, online payment databases and networks that support card processing. In order prevent such data breaches, the PCI DSS was introduced.
What is PCI DSS?
PCI DSS (Payment Card Industry Data Security Standard) refers to a set of requirements that were designed to increase security of credit card transactions by attempting to prevent misuse of cardholder data and reduce fraud.
It is administered and managed by an independent body, the Security Standards Council (founded by the major payment card brands including Visa, MasterCard, American Express, Discover and JCB). It is achieved via a number of controls involving how businesses handle cardholder data, including the storage, transmission and processing of these sensitive details.
Why do I need to comply?
Payment security is highly important not only to customers, but to retailers, merchants and all those that store and use cardholder data.
It is crucial for any company (regardless of size or transaction volume) processing credit card information to adhere to the standards outlined in the PCI DSS and formally declare this by validating their compliance, annually. Ensuring compliance is not a one-off process, and must be continually assessed.
For more information regarding PCI and how to become compliant, please refer to the Barclays website here.
If you are a Suresite Card Services customer, you will receive documentation for Barclays Web Portal service which will help you to reach, record and maintain your compliance. If you have any questions, please do not hesitate to contact us on 01772 790901.
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