PCI Compliance: Introduction, 12 Requirements, and Certification
Adhering to PCI compliance brings a range of benefits to payment-related businesses, for example, customer trust, more business, and safety from cyber attacks, the non-compliance penalty, and reputation loss. According to a survey conducted by Deloitte, 87% of the subjects they surveyed reported the risk of reputation loss as much more significant than other strategic risks their business is facing. What is PCI Compliance? PCI compliance refers to adherence to the Payment Card Industry Data Security Standard (PCI DSS), a set of security standards established by major credit card companies to protect sensitive cardholder data during payment card transactions. PCI compliance is mandatory for any organization that processes, stores, or transmits credit card information. The PCI DSS is a comprehensive framework that outlines specific requirements and best practices for securing cardholder data. It covers various security aspects, including network security, data protection, acce...