PCI DSS Meaning, requirements, and steps to compliance

1. PCI DSS: Meaning, requirements, and steps to compliance PCI DSS meaning PCI DSS is a part of a cyber security standard made to protect the credit and debit card details of the users. It is a protective approach backed by all the credit/debit card and payment processing companies to keep the debit and credit card numbers of the user safe. PCI DSS stands for Payment Card Industry Data Security Standard. PCI DSS is a standard administered by Payment Card Industry Security Standards Council to establishes business practices and cybersecurity controls that must be implemented by companies or businesses that accepts card payments. Companies can implement this protective standard by meeting all the requirements that were laid by the standard. Organizations that do not meet the requirements of PCI DSS standards, may be fined.

2. What is the use of PCI DSS? Credit and debit card numbers are the most valuable digits of anyone. If someone gets access to those sequence of numbers, they can make fraudulent transactions and withdrew money from the account of users. Banks and other card issuers refund their customers in many situations, so they have to ensure that credit and debit card numbers are secure as they are transmitted across the economic system. The PCI DSS Security Standards Council was created to make sure that transactions that involve debit and credit card numbers should be as secure as possible. The council laid some security standards that businesses and organizations in different industries must implement. Who should apply for the PCI DSS standard? PCI DSS is one of the most wide-ranging Council’s standards which applies to any business or organization that stores, and transmits the data of cardholders. It means that any business that accepts transactions through credit and debit cards must implement this standard. When did PCI DSS become mandatory? PCI DSS standard becomes mandatory on December 15, 2004, with the launch of version 1.0. One should know that PCI DSS is not a law, but a security standard. Compliance which is mandated by the contracts that merchants sign with the brands of card like master card, Visa, etc and with the banks that handle their process of payment. What are the benefits of PCI DSS? PCI DSS Certification has a lot of benefits for both the consumers and the businesses. Have a look at some of the benefits of PCI DSS:

3. PCI DSS is a certificate that ensures that your company or business is highly assured. It helps to increase the trust of customers to share the card information for transactions. After the PCI DSS certification, your company becomes eligible to work with all the banks and payment brands like Master Card and American Express. PCI DSS is a process that helps to secure your payment gateway. Level 2, Augusta Point, Parsvnath Exotica, Sector 53 Golf Course, Gurgaon- 122002 Tel: 1800 212 676767 info@gisconsulting.in https://www.gisconsulting.in/ **Thank-you**