It stands for payment card industry and is defined as a set of requirements

1. PCI Compliance
It stands for payment card industry and is defined as a set of requirements designed to ensure that all
companies pci compliancewho process, store, or transmit credit card information maintain a secure
environment. The PCI Security Standards was established in 2006 by the five major issuers (Visa,
MasterCard, American Express, Discover and JCB). Prior to the establishment of this council each
issuer followed their own practices.
If you are a merchant with a merchant ID and you accept credit cards as a form of payment- these pci
dss compliance compliance standards are meant for YOU. As I am sure you are aware, we have seen
many incidences of data breaches publicized by the media. Currently, PCI compliance is not mandated
by the federal government. Many states already require notifications to the consumer in the event of a
data breach. It is very likely as time progresses that the definition of what is considered personal
information will change.
What is the real cost of a data breach? The fines associated with non-compliance pci dss or breach of
data can be $10,000 - $500,000 per incident. PCI compliance will cost up to an average of 2.7 million
among Level 1 merchants and $267,000 among Level 2 merchants. Merchants may fall into one of four
PCI compliance levels depending upon their transaction volume. The US National Archives and Records
Administration reports 50% of businesses that loose their critical data for 10 days or more have to file
for bankruptcy immediately. These fees can instantly become catastrophic to any company.
What are the first steps towards compliance? On a quarterly basis, all merchants are application pen
test required to scan (PCI Scanning) all external-facing IP addresses by an Approved Scanning Vendor
(ASV). Secondly, they must complete an annual Self-Assessment Questionnaire (SAQ). And finally,
they must provide a yearly Report on Compliance. This report is submitted to the company you signed
an agreement with for your credit card machine. Depending upon your merchant level will depend
upon the amount of detail required in this report.
The concept of PCI compliance is still in its evolving stages and I know this can web application pen
test be overwhelming and confusing. However, this is a necessary step to ensure the protection of
consumers everywhere. Let me help you streamline and simplify the process for your company. Being
part of a waste management company does not preclude you from ensuring PCI compliance for your
customers