The Payment Card Industry Data Security Standard is an information security standard for organizations that handle branded credit cards from the major card schemes. The PCI Standard is mandated by the card brands but administered by the Payment Card Industry Security Standards Council.
Benefits Of PCI Compliance
Complying with PCI Security Standards seems like a daunting task, at the very least. The maze of standards and issues seems like a lot to handle for large organizations, let alone smaller companies. Yet, compliance is becoming more important and may not be as troublesome as you assume, especially if you have the right tools.
According to PCI SSC, there are major benefits of compliance, especially considering that failure to comply may result in serious and long-term consequences. For example:
PCI Compliance means that your systems are secure, and your customers can trust you with their sensitive payment card information; trust leads to customer confidence and repeat customers.
PCI Compliance improves your reputation with acquirers and payment brands – just the partners your business needs.
PCI Compliance is an ongoing process that aids in preventing security breaches and payment card data theft in the present and in the future; PCI compliance means you are contributing to a global payment card data security solution.
As you try to meet PCI Compliance, you’re better prepared to comply with additional regulations, such as HIPAA, SOX, and others.
PCI Compliance contributes to corporate security strategies (even if only a starting point).
PCI Compliance likely leads to improving IT infrastructure efficiency
For more info on PCI DSS, please visit https://www.pcisecuritystandards.org/pci_security/