The failure to properly handle sensitive data has the potential to lead to a potentially devastating breach and spur penalties and fees. In the worst-case scenario, a misstep in the handling of information can lead to the closure of a credit card processing account that compromises your ability to do business. In this article, our IT consulting team on Long Island explains everything about payment card industry (PCI) and what is required to ensure compliance.
PCI Compliance Basics
PCI compliance is centered on a series of industry standards referred to as PCI DSS. DSS is short for data security standards. Such standards are meant to guarantee those handling credit card data do so in a completely secure manner. The top credit cards created a PCI security standards council a dozen years ago to enhance credit card transaction security through tech innovations. Businesses and organizations that deal with credit card information must adhere to PCI security standards. Even if you outsource your credit card transaction processing to an outside party, you still must meet PCI security standards. Do not be intimidated by these standards— our managed services experts on Long Island are here to help keep your system secure.
The Levels of PCI Compliance
Every business owner and manager should be aware of its compliance level for each credit card brand accepted for purchases. Each credit card has its own unique compliance program with varying activity levels. As an example, a couple million transactions processed in a single year will put a merchant at a fairly high level with Visa. The actions required to meet PCI requirements hinge on the compliance level for each credit card brand.
The Importance of PCI for SMBs
The vast majority of card data breaches are applicable to small businesses. If the business is determined to be non-compliant, major credit issuers will likely suspend the account. Every eCommerce site is required to perform application code analyses and implement firewalls. Our IT consulting team on Long Island can help you add these safeguards in a seamless manner.
Most small business owners and managers are interested to learn Visa merchants are required to conduct yearly self-assessments. These merchants are also required to perform network security scans on a quarterly basis. Invest the little bit of time necessary to understand the compliance requirements of each credit card you have to ensure you are doing your part to maintain a secure environment.
Do you need assistance with IT? Our IT consulting team on Long Island is here to help with the cloud, cybersecurity, business continuity and disaster recovery, managed services, and more. Contact us at Total Technology Solutions to learn more.