What Does PCI Compliance Mean for Your Business?
All merchants who are using a non-PCI certified and authorized provider can face serious consequences and troubles. If a merchant is found to be adamant, their ability to store, process, and transmit transactions can be removed. Also, the merchants can face these possible troubles – class action lawsuits can be filled, and monthly fines or fixed fines can be imposed. Any of these consequences can affect your business negatively.
So, if you want to be a successful merchant online, you have to ensure your provider is not going to endanger your e-commerce business. If you want, you can check the status of the provider and see whether or not it is PCI compliant. You can check Visa’s list of certified providers from all over the world.
The Importance of Being PCI Compliant
A lot of people are asking the same question – what does it mean to be PCI compliant or why it is so important to be PCI compliant?
PCI DSS or The Payment Card Industry Data Security Standard contains a set of requirements (the 12 requirements we mentioned above) that are specially designed to make sure that all organizations that process credit card data maintain a safe and secure environment. The cardholder information is any personal information related to the cardholder such as the account number, name, address, expiration date, social security number and etc. All these personal information related to the cardholder are of a great importance and they should be protected and kept safe.
In order to become PCI compliant, you need to reach Level 1 PCI Compliance, which is the highest level an organization can be. Once you will reach Level 1 PCI compliance, you can ensure your customers that their payment information, as well as personal credit card data, is safe and that all of their information is stored in PCI compliant location. This will give your customers a peace of mind!