Payment Card Industry
Data Security Standards (PCI DSS)
Payment card industry (PCI) compliance is mandated by credit card companies to help ensure the security of credit card transactions in the payments industry.
Payment card industry compliance refers to the technical and operational standards that businesses follow to secure and protect credit card data provided by cardholders and transmitted through card processing transactions. PCI standards for compliance are developed and managed by the PCI Security Standards Council.
Security Standards Council
The PCI Security Standards Council‘s mission is to enhance global payment account data security by developing standards and supporting services that drive education, awareness, and effective implementation by stakeholders.
They are constantly working to monitor threats and improve the industry’s means of dealing with them, through enhancements to Security Standards and by the training of security professionals.
All companies that process credit card information are required to maintain compliance as directed by their card processing agreements.
PCI compliance is the industry standard and business without it can result in substantial fines for agreement violations and negligence. Without payment card industry compliance, companies are also highly vulnerable to theft, fraud, and data breaches.