PCI Compliance: Keep Your Customers And Business Secure

The threat of a data breach is a reality for all retailers, and as a result, safeguarding customer data should be a top priority. To make sure it stays a priority, the PCI Security Standards Council – an independent organization formed by Visa, MasterCard, American Express, Discover Financial Services, and JCB International – developed the PCI Data Security Standard (PCI DSS), a set of guidelines to help retailers minimize fraud and make sure their credit and debit card processing is secure.

The PCI DSS provides steps to protect organizations, customers, and the card processing system from fraud. The steps include requirements for security management, payment policies, data storage procedures, network architecture, software design, and other payment system measures.

These guidelines are not merely suggested reading for retailers. While the council develops and maintains the standards, each card company independently implements and enforces those standards. In 2006, they leveled fines totaling some $4.6 million to card processors of non-compliant retailers around the country, and these fines were passed directly to the retailers.