Is your merchant PCI Compliant?

June 29, 2012 | By | Reply More

Reading time: 2 – 2 minutes

Did you know that online merchants who accept credit card payments must be PCI DSS compliant? Card transactions online is govern by a set of requirements set by the Payment Card Industry Data Security Standard (PCI DSS) which is designed to ensure that ALL companies that process, store or transmit credit card information maintain a secure environment. Essentially any merchant that has a Merchant ID (MID).

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.).

PCI compliantIt is important to note, the payment brands and acquirers are responsible for enforcing compliance, not the PCI council.

Having read all this, it’s important to understand that whenever you hand your credit card information online, you are putting yourself at risk, meaning you are vulnerable to security breaches however, you must also be aware that certain measures are being taken to fully safeguard your data online so you can sleep safe and sound and that is what the PCI SSC is working for alongside payment brands to ensure that your information cannot be compromised.

For new startup businesses however, they basically need to acquire a PCI compliant hosting environment in order to solidify their intention of good business and for the security of their customers. Merchants must adapt PCI compliance in order to project an image of trustworthiness and dedication to safeguard their customer’s valuable information and data.

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