Payment Card Industry Data Security Standard (PCI DSS) is a set of security requirements for enterprises that process payment and credit card data. The standard was developed by the Payment Card Industry Security Standards Council (PCI SSC) – an organization founded by major card networks: Visa, Mastercard, American Express, Discover, and JCB. To ensure a high level of card transaction security worldwide, this unified, global standard was created.
Entrepreneurs who accept card payments or operate e-commerce businesses are required to undergo annual audits confirming compliance with PCI DSS. PCI DSS requirements cover payment processing, infrastructure, and consumer payment information. The standard encompasses 12 main requirements grouped into 6 control objectives – from building and maintaining a secure network to regularly testing security systems.
The PCI DSS standard applies to payment service providers, retail and service establishments, and banks – all entities storing, processing, or transmitting cardholder data. The scope of requirements depends on the organization’s level (Level 1-4), determined by annual card transaction volume.
Consequences of non-compliance with PCI DSS requirements include:
- Inability to process payment cards – card networks may revoke authorization to process transactions
- Business and financial complications – financial penalties reaching thousands of dollars monthly, increased transaction rates, and in case of data breach – liability for cardholder losses
nFlo offers PCI DSS compliance audits, conducting infrastructure and application security tests, identifying risks, and providing reports with recommendations leading to PCI DSS compliance. Our specialists also help with remediation of detected non-conformities and preparation for certification by a QSA (Qualified Security Assessor).
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