PCI compliance refers to the Payment Card Industry Data Security Standard (PCI DSS), a set of security standards designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment. The PCI DSS was developed by the Payment Card Industry Security Standards Council (PCI SSC), a group of major payment card brands (Visa, Mastercard, American Express, etc.) to protect against data breaches and protect the sensitive financial information of consumers.
Complying with the PCI DSS is mandatory for any organisation that accepts credit card payments. Non-compliance can result in fines, legal action, and damage to the organisation’s reputation.
To achieve PCI compliance, organisations must meet a set of requirements that fall into six categories:
By following these requirements, organisations can ensure that they are in compliance with the PCI DSS and protect the sensitive financial information of their customers. Regularly reviewing and updating their security measures can also help organisations stay ahead of emerging threats and maintain compliance over time.