The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that all companies that deal with credit card information maintain a secure environment. The PCI DSS is the global data security standard administered and managed by the major payment card brands (Visa, MasterCard, American Express, Discover and JCB).
According to Complyify, “over 30 million companies are subject to PCI compliance through their contracts with payment card brands, banks, and payment service providers” making it “by far the world’s furthest reaching cybersecurity obligation“. [1]
While you may think companies would put alot of emphasis and work to ensure their compliance, according to Brian Pick at goanywhere.com [2], in 2017 “only 29% of companies were still compliant a year after validation” and pcidssguide.com tells us that the fines for non-compliance range from $5,000 to $100,000 a month! [3]
Continue reading “What is the PCI DSS (Payment Card Industry Data Security Standard) – a beginner-friendly guide of the 12 requirements”