It’s very convenient to use payment cards. Money is on a bank account, a plastic card is in a wallet. A payment card is securely protected: personal number, chip, CVV, expiration date. Any bank card contains a lot of details, and all of them are responsible for security.
The payment card is a great alternative to banknotes.
Is it convenient? Yes, it is! But, it is not always safe!
The more actively banknotes turn into electronic money, the more intruders start hunting for the latest. And how can you get access to the electronic money? The easiest way is to use the payment card.
You also pay by the bank card. But, what is the guarantee that, during the usual payment for the morning coffee and croissant, your personal data will not be stolen?
What is the guarantee that in a few days you will not receive a text message stating that your money was spent in another city or country?
There is no such guarantee!
It means that your e-money is at threat. It doesn’t matter how much money you have on your account $ 1 or $ 10,000.
Using a payment card, any person has a strong chance to become a victim of intruders.
Naturally, such international payment systems as VISA, MasterCard, American Express, etc. want to protect their customers and their money from fraud.
How to ensure safety and security of the customer funds?
VISA and MasterCard companies require from the trading enterprises and various service providers, who accept payments from the customers through these payment systems, to comply with the PCI DSS standard. It applies not only to the large-scale corporations. The small companies should also comply with this standard.
What is this PCI DSS standard all about?
Payment Card Industry Data Security Standard (PCI DSS) is an information security standard for organizations that handle branded credit cards from the major card schemes. It was developed by the Payment Card Industry Security Standards Council (PCI SSC) which was established by such international payment systems as Visa, MasterCard, American Express, JCB and Discover.
The PCI DSS standard is a set of security requirements for the cardholder data that are stored, transmitted and processed in the information infrastructures of organizations.
It contains 12 clear and detailed requirements.
We will not enumerate all of these requirements here. You can find all of them more detailed in our blog or in a short article About the PCI DSS certificate.
The primary objectives of the PCI DSS standard are to ensure the network infrastructure security and protect the cardholder data, as these are the most soft spots that directly threaten with the confidentiality and money loss.
Nowadays almost any service or good can be paid by a payment card. That’s why the PCI DSS standard requirements apply to the banks, service providers of all kinds, retail stores, trading companies, call centers, payment gateways and other enterprises and organizations that deal with the processing, transmitting and storing of cardholder data.
Any enterprise, that accepts card payments for its services, needs to undergo the PCI DSS standard certification.
It’s essential to complete certification, and there are three strong reasons for that.
The first reason:
Do your customers pay by the bank cards?!
VISA and MasterCard payment systems require that the companies, which card payments go through, adhere to a general level of security. It means that these companies, including yours, must undergo certification and meet all the PCI DSS requirements.
It applies to all companies that work with the payment cards or are just about to start accepting card payments.
The majority of small local business owners think that VISA and MasterCard requirement doesn’t apply to them, since their money turnover is small.
It’s important to be aware of the following: if your organization stores, processes or transmits the information about at least one card transaction or cardholder during the year, then you must comply with all of the PCI DSS standard requirements.
The second reason:
Increasing your customer’s trust.
When you say that you have the PCI DSS certificate, it means that it’s safe to work with you. You show your customers this certificate and thereby confirm that you care about their money safety.
With the PCI DSS certificate, you form a public opinion about your company as a company with the fair name and stable position in the market.
Consequently, your credibility level increases. And, as a result, your sales level grows.
The third reason:
With the PCI DSS certificate, you are getting confident that your business security level is high enough. There is no need to worry that you will become the target of hackers.
If you follow all the processes, your vulnerability is minimal. No one will give you a 100% guarantee, but the fact that you will be protected to the full is true. And it’s all just because you will undergo the PCI DSS standard certification.
These are three strong reasons. They are already saying that completing the PCI DSS certificate is not only necessary but also very beneficial for your company!
This is a story from our practical experience. We were contacted by the small online store representatives.
The store owners have decided to accept online payments from their customers. In order to get that done, it was necessary to connect the store’s website to the payment system of a large Ukrainian bank.
The first thing this bank has done was laying down a mandatory condition: the online store must undergo the PCI DSS standard certification.
And that makes sense, because the bank concerns about its clients’ money and its own reputation. Therefore, it requires the store to be certified in accordance with the PCI DSS standard.
Security at all monetary movement stages is extremely important for the bank. And only the PCI DSS certificate availability can guarantee this security.
Our specialists have helped this online store to fulfill all the requirements. The satisfied client received his PCI DSS certificate within two weeks. The bank connected it to its system and the business has started working.
There is another story but not from our experience. It’s a negative example, but we think you should know about it.
A large American supermarket chain Target was not concerned about its own safety and its customer safety.
As a result of the hacker infiltration into the company’s computer network, there was a data leakage of 40 million payment cards. Eventually, it led to the fact that the owners have lost $ 250 million.
This story was told not in order to intimidate you, but to show how vulnerable even a very large business can be.
Only the PCI DSS certificate minimizes a chance that hackers will be able to break into your network.
Once again, we draw your attention to the most important thing: the PCI DSS certificate is beneficial and necessary for your business!
You can draw such an analogy: the PCI DSS certificate is like a driving license and compulsory insurance. You can drive without documents until you are fined.
But try to walk in your clients’ shoes. Would you like to take a cab whose driver does not have a driving license or insurance?
Similarly, customers do not want to buy products from companies that do not have the PCI DSS certificate.
IT-specialist will help your company to undergo successful and fast certification for compliance with the PCI DSS standard.
Read more in the blog