Over 10 years of helping organizations comply with PCI Standards.
What is PCI compliance?
Today, the vast majority of retail purchases are being made with credit and debit cards. And, the trend toward a cashless society has been accelerating not just in the US, but globally as well, in the wake of the Covid 19 pandemic.
Payment Card Industry Data Security Standard (PCI DSS) is a set of industry regulations designed to help keep payment data safe. If your business handles credit or debit card payments, it is required to comply with the standards. PCI compliance standards are comprehensive and cover 12 areas that range from firewall use to enacting and maintaining an information-security policy.
Compliance with the (PCI DSS) is often thought of as little more than an obligation, and businesses just as often have little incentive to do more than meet the bare minimum. Once they understand the goals of PCI DSS, however, the value of the regulatory standards becomes more apparent.
The risks of non-compliance.
News headlines may lead you to believe that hackers only target large corporations with massive amounts of costumer data. In reality, an incredible 70% of all reported data breaches happen to small businesses. Hackers are getting increasingly more sophisticated, and aware that smaller businesses are less likely to have adequate security on their systems.
Successful hacks of SMBs may be too small for the headlines, but to the business owner, the impact can be huge. Studies have shown that if a small business suffers a data breach, it has a 60% chance of going out of business within six months.
Don’t let it happen to you.
As a business owner, you have plenty of other things to worry about than getting shut down due to a preventable data breach. If you use a credit card processing solution on your own server that stores full credit card numbers without encryption built in, it is not PCI compliant and your business is at risk.
Fortunately, getting in compliance these days has gotten easier. For example, cloud-based systems remove all customer data from your own server so, encrypted or not, you cannot be held liable for a credit card information breach.
Our compliance experts can work with you to review your current level of compliance and determine the appropriate solutions for your business. Ensuring your business is PCI compliant will give you the peace of mind knowing that your customers’ credit card data is safe, and your business is protected from the potential repercussions of a data breach.
PCI compliance today and in the future.