Follow PCI Security Standards Council For PCI DSS Compliance – Three Reasons Why It Makes Sense
Posted on August 21, 2010 | No Comments
Ven North asked:
PCI stands for Payment Card Industry, and DSS stands for Data Security Standard. Why does it make sense to follow PCI Security Standards Council for data security compliance? Many small and medium size business owners have complained about the complicated nature of the PCI data security standard, and stated that it adds to the administrative burden, regardless of whether they already have excellent security procedures in place in their enterprise.
Regardless of such complaints, there are reasons of import as for why it makes sense to comply with the PCI DSS standards. The three main reasons are: Payment Card Industry has years of experience, Compliance with PCI security standard will give you ideas on how to protect your own data, and last but not least, You may not have a choice. Let’s see all these reasons in detail.
Years of experience with online transactions by the PCI industry
PCI industry is comprised of top five payment card processors, Visa, Mastercard, American Express, JBC, and Discover. Combined, they have seen every, and any type of malicious threat to their processing systems that ever existed. The old joke quotes a bank robber who they asked why he robs banks, he responded, “that is where the money is”. Well, in today’s language, people with malicious intent focus on payment processor sites, because “that is where the money is”.
By securing PCI security compliance you are taking advantage of years of experience in defending online assets from intruders.
Ideas to protect your own intellectual property online
Following the PCI DSS standard to the T will give you ideas for how to protect your own business data. Your business data may not be as desirable by most criminals as the “money” is, but, nevertheless, your data is valuable and you would not want to be a victim of modern, online industrial espionage.
Following PCI DSS will give you guidelines to protect your own data. Moreover, by merging your own security measures with the measures to satisfy PCI data security standards compliance, the PCI DSS fulfillment will become just an incremental burden, much easier to implement.
You may not have a choice
No matter how you slice it, PCI is a monopoly of sorts. If you are found non-compliant, and unable to process credit card, debit cards with one of the five logos, you may not be able to process many online transactions at all. Yes, there is PayPal, eJunkie, and other online processors, but they usually operate in very specialized markets, and do not have as broad a reach as Visa and Mastercard. They may also charge you higher fees.
On the other hand, if you continue to process transactions through Visa and Mastercard when non PCI compliant, and avoiding a PCI audit, you may face steep fees and penalties, especially in the case of the breach and compromise of cardholder information.
Caffeinated Content
PCI stands for Payment Card Industry, and DSS stands for Data Security Standard. Why does it make sense to follow PCI Security Standards Council for data security compliance? Many small and medium size business owners have complained about the complicated nature of the PCI data security standard, and stated that it adds to the administrative burden, regardless of whether they already have excellent security procedures in place in their enterprise.
Regardless of such complaints, there are reasons of import as for why it makes sense to comply with the PCI DSS standards. The three main reasons are: Payment Card Industry has years of experience, Compliance with PCI security standard will give you ideas on how to protect your own data, and last but not least, You may not have a choice. Let’s see all these reasons in detail.
Years of experience with online transactions by the PCI industry
PCI industry is comprised of top five payment card processors, Visa, Mastercard, American Express, JBC, and Discover. Combined, they have seen every, and any type of malicious threat to their processing systems that ever existed. The old joke quotes a bank robber who they asked why he robs banks, he responded, “that is where the money is”. Well, in today’s language, people with malicious intent focus on payment processor sites, because “that is where the money is”.
By securing PCI security compliance you are taking advantage of years of experience in defending online assets from intruders.
Ideas to protect your own intellectual property online
Following the PCI DSS standard to the T will give you ideas for how to protect your own business data. Your business data may not be as desirable by most criminals as the “money” is, but, nevertheless, your data is valuable and you would not want to be a victim of modern, online industrial espionage.
Following PCI DSS will give you guidelines to protect your own data. Moreover, by merging your own security measures with the measures to satisfy PCI data security standards compliance, the PCI DSS fulfillment will become just an incremental burden, much easier to implement.
You may not have a choice
No matter how you slice it, PCI is a monopoly of sorts. If you are found non-compliant, and unable to process credit card, debit cards with one of the five logos, you may not be able to process many online transactions at all. Yes, there is PayPal, eJunkie, and other online processors, but they usually operate in very specialized markets, and do not have as broad a reach as Visa and Mastercard. They may also charge you higher fees.
On the other hand, if you continue to process transactions through Visa and Mastercard when non PCI compliant, and avoiding a PCI audit, you may face steep fees and penalties, especially in the case of the breach and compromise of cardholder information.
Caffeinated Content