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Payex360
Includes PCI ValidationWhat is PCI?
The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that ALL companies that process, store or transmit credit card information maintain a secure environment.
The Payment Card Industry Security Standards Council (PCI SSC) was launched on September 7, 2006 to manage the ongoing evolution of the Payment Card Industry (PCI) security standards with focus on improving payment account security throughout the transaction process.
The PCI DSS is administered and managed by the PCI SSC (www.pcisecuritystandards.org), an independent body that was created by the major payment card brands (Visa, MasterCard, American Express, Discover and JCB.).It is important to note, the payment brands and acquirers are responsible for enforcing compliance, not the PCI council.
It's Mandatory
Requiring a third party security vendor and questionnaire is a requirement for compliance.
Why should you, as a merchant, comply with the PCI Security Standards? At first glance, especially if you are a smaller organization, it may seem like a lot of effort, and confusing to boot. But not only is compliance becoming increasingly important, it may not be the headache you expected.
Compliance with data security standards can bring major benefits to businesses of all sizes, while failure to comply can have serious and long-term negative consequences including: lawsuits, insurance claims, cancelled accounts. payment card issuer fines, and government fines
Why now?
In an attempt to keep our client’s costs to a minimum we have avoided the use of a third party security vendor for some time by relying solely on the terminals having the latest security standards.
We can no longer avoid contracting a third party security vendor and need to implement these practices to eliminate your liability and protect the data of your customers.
