What Is Pci Compliance And How Does It Affect Your Business?

If you find yourself in new territory and wondering, what is PCI compliance? – You’ve come to the right place! Giving yourself a basic understanding of PCI can help you navigate more than you might think when choosing which payment processor, merchant account, or outside payment security specialist you may need. Take it easy, merchants. This article is designed to shed light on the basics of PCI compliance and put you on the right track to protect your business – for peace of mind. content What does PCI stand for? Do I have to comply with PCI? Five major credit card brands jointly established the PCI Security Standards Council in 2006. Founding members of the committee include: American Express

What Does Pci Stand for?

Discover Financial Services JCB International MasterCard Visa Representatives of the five major payment brands make up the executive committee, and as you can imagine, the policies set by these individuals form the rules we must follow when accepting credit cards from their respective brands. Other big brands also contribute to Spain Phone Number List the council in advisory roles. Square (see our review) is one of the largest Payment Service Providers (PSPs) and sits on the Board of Directors to help shape policies related to new technologies and updated best practices. This is by no means a one-time event in terms of policymaking in the payment security space. Policies are always evolving.

Understand Your Pci Compliance Obligations

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Now let’s move on to explore what PCI compliance means to you! What is PCI compliance? Simply put, PCI compliance focuses on ensuring payment data remains secure throughout the payment lifecycle. Whenever you use a credit card, store, process, or transmit credit card data to make a payment, there is a PCI guideline for doing so securely. Remember, the more places payment information is passed or recorded, the greater the merchant’s PCI scope.

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