Although the term PCI Compliance might be new to retailers, protecting sensitive data and preventing credit card fraud is a familiar challenge. PCI is a series of requirements that Visa and the other major credit card companies are now enforcing to secure customer information and identity. It requires that every entity involved in processing a transaction—including the card issuer, the processor, the software, and the retailer—must meet rigorous standards to protect that information.
Compliance with the PCI standards is required for any business that accepts payment cards. It is imperative to learn what this means and how to adhere to the standards. While requirements for compliance might seem daunting, PCI compliance is less an exercise in following rules and more about making sure credit card data is processed in a secure manner. There are several ways companies can diminish their risk and make it more difficult for anyone to breach their defenses.
Security breaches often occur when automated viruses that steal credit card numbers are inadvertently downloaded by visiting the wrong website, especially sites like Facebook or MySpace. Other attacks target the sensitive data stored in the database on point-of-sale workstations. Systems that handle credit card information are less likely to be attacked if they are secured against any internet access that could compromise the card numbers. Even more, software that does not store the credit card numbers at all further reduces the vulnerability.
Additionally, there are several hardware solutions to help retailers protect themselves. Using hardware created specifically to encrypt the credit card data and secure communications to the processor can all mitigate the risk to the retailer. This technology, including encrypted swipe card readers, will protect the information by encrypting the data as it is read, as it is being processed by the computer, and during the transmission out of the salon.
Because many of the requirements relate to technology and how data is processed and transmitted, it is vital for businesses to make sure the software technology providers they are working with are PA-DSS Validated. Software companies that process credit cards are required to undergo a rigorous certification to become validated. This audit process is called PA-DSS and only validated software solutions will be allowed to provide integrated credit card processing.
Every business that accepts payment cards will have to become compliant. Failing to protect your business by not becoming compliant can lead to costly fines and lawsuits. On the positive, protecting cardholder data is beneficial for businesses. Many customers are ensuring that the businesses they frequent are keeping their sensitive data safe. In the end, it is up to you to protect your customers from risk and maintain your reputation for trustworthy service.
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