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PCI stands for Payment Card Industry, and DSS stands for Data Security Standard. Why does it make sense to follow PCI Security Standards Council for PCI compliance? Many small and medium size business owners have complained about the complicated nature of the PCI data security standard, and stated that it adds to the administrative burden, regardless of whether they already have excellent security procedures in place in their enterprise. Regardless of such complaints, there are reasons of import as for why it makes sense to comply with the PCI DSS standards. The three main reasons are: Payment Card Industry has years of experience, Compliance with PCI security standard will give you ideas on how to protect your own data, and last but not least, You may not have a choice. Let's see all these reasons in detail.
They have years of experience with online transactions by the PCI industry. PCI industry is comprised of top five payment card processors, Visa, Mastercard, American Express, JBC, and Discover. Combined, they have seen every, and any type of malicious threat to their processing systems that ever existed. The old joke quotes a bank robber who they asked why he robs banks, he responded, "that is where the money is". Well, in today's language, people with malicious intent focus on payment processor sites, because "that is where the money is".
By securing PCI security compliance you are taking advantage of years of experience in defending online assets from intruders. Ideas to protect your own intellectual property online are another benefit of PCI. Following the PCI DSS standard to the T will give you ideas for how to protect your own business data. Your business data may not be as desirable by most criminals as the "money" is, but, nevertheless, your data is valuable and you would not want to be a victim of modern, online industrial espionage.
This might include a deadline in which certain things might have to be completed in a specific time frame. The things that they PCI compliance is asking for are not anything that should not already be done anyways. They maintain that you have to have a secure connection and that there are appropriate firewalls preventing someone from being able to hack into the system by the compliance deadline.
They may also charge you higher fees. On the other hand, if you continue to process transactions through Visa and Mastercard when non PCI compliant, and avoiding a PCI audit, you may face steep fees and penalties, especially in the case of the breach and compromise of cardholder information. Don't take PCI compliance lightly, it is really important.
They have years of experience with online transactions by the PCI industry. PCI industry is comprised of top five payment card processors, Visa, Mastercard, American Express, JBC, and Discover. Combined, they have seen every, and any type of malicious threat to their processing systems that ever existed. The old joke quotes a bank robber who they asked why he robs banks, he responded, "that is where the money is". Well, in today's language, people with malicious intent focus on payment processor sites, because "that is where the money is".
By securing PCI security compliance you are taking advantage of years of experience in defending online assets from intruders. Ideas to protect your own intellectual property online are another benefit of PCI. Following the PCI DSS standard to the T will give you ideas for how to protect your own business data. Your business data may not be as desirable by most criminals as the "money" is, but, nevertheless, your data is valuable and you would not want to be a victim of modern, online industrial espionage.
This might include a deadline in which certain things might have to be completed in a specific time frame. The things that they PCI compliance is asking for are not anything that should not already be done anyways. They maintain that you have to have a secure connection and that there are appropriate firewalls preventing someone from being able to hack into the system by the compliance deadline.
They may also charge you higher fees. On the other hand, if you continue to process transactions through Visa and Mastercard when non PCI compliant, and avoiding a PCI audit, you may face steep fees and penalties, especially in the case of the breach and compromise of cardholder information. Don't take PCI compliance lightly, it is really important.
About the Author:
Learn more about PCI Compliance. Stop by Karen Carter's site where you can find out all about the PCI Compliance Standards and what it can do for you.
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