Payment Card Industry (PCI) compliance is a technical and operational standard protecting consumer credit card information from theft and disclosure.
Payment Card Industry (PCI) compliance is a technical and operational standard that applies to any business that stores, processes or transmits credit card information. This protects consumer credit card information from theft and disclosure.
Businesses that store, process or transmit major credit card information are required to be Payment Card Industry Data Security Standard (PCI DSS) complaint, regardless of the business size, amounts being transmitted, or number of transactions placed. This standard ensures that credit card data is protected from theft in the event of a breach. Violation can result in monthly penalties up to $100,000. Although compliance does not guarantee security, it helps card issuers and banks to limit their liability should a cyber-attack occur.
Who Needs PCI Compliance?
Businesses that process e-commerce or merchant credit card payments from major credit cards (Visa, MasterCard, etc.).
Why is PCI Compliance Important?
Without compliance, credit card information is vulnerable to cyber-attacks, resulting in credit card fraud and hefty fines.