Businesses that handle card payments, including over the phone payments, should have data security at the top of the priority list.
Businesses that handle card payments, including over the phone payments, should have data security at the top of the priority list.
In today’s digital-focused world, we’ve become reliant on technology, and this extends to card payments. As a convenient way for people to make purchases, and with the introduction of mobile payment services such as Apple Pay, now more than ever, businesses who process card payments must prioritise the security of sensitive customer data. This is increasingly important for card payments taken over the phone.
This is where PCI compliance comes in. We’re going to delve into the role of PCI DSS compliance, the importance for anyone processing card payments over the phone, and how it benefits both resellers and businesses.
What is PCI DSS Compliance?
It is the responsibility of all businesses to make sure that customer data is being handled correctly and safely. Payment Card Industry Data Security Standard (PCI DSS) is a set of industry regulatory standards that businesses must follow in order to keep customer card data safe and secure. PCI was first introduced in 2004, and updates have been issued for new versions as the landscape has evolved.
If a business processes or stores card information, they are required to follow PCI compliance to create a secure environment for customer data. As cybercrime continues to increase, credit card fraud remains a common threat. When cybercriminals get their hands on sensitive financial data, they’re able to rapidly cause financial damage to individuals, and also to businesses.
The PCI Checklist
PCI regulation covers areas such as network security, encryption, access control, and regular monitoring. The 12 key requirements are: