The PCI Data Security Standard establishes a global set of security measures to ensure safe handling of cardholder information. To protect your business, your customers (cardholders), and the integrity of the payment system, each of the card companies has in place a set of requirements governing the safekeeping of account information.
Merchants and service providers must demonstrate compliance to their respective acquirer(s) by adhering to quarterly and annual audits by independent third-party providers.
The Payment Card Industry (PCI) Data Security Standard is a set of security requirements for merchants and service providers that store, process or transmit cardholder data.
Backed by Visa, MasterCard, American Express, Discover Card, Diners Club and JCB, the standard requires retailers to carry out a 12-step security audit and validate compliance. Merchant or service providers that do not comply with the mandated security requirements face stiff fines and may be prohibited from participating in the programs of the various payment card brands.
Having a thorough security assessment conducted by an unbiased consulting firm, such as NCX Group, will identify where vulnerabilities are within your processes, help prioritize security risks, and specify steps to mitigate deficiencies. An information security review will not only lay the groundwork for PCI compliancy, but also establish a clear-cut path to reduce unnecessary costs while implementing the correct technology to adhere to PCI security regulations.