What is PCI and why does my business need PCI Compliance?
Ever see a monthly or big annual "PCI" fee show up on your merchant statement? Ever wonder: What is PCI Compliance? How do I become Compliant and what are the benefits? How much should it cost? Why am I paying for this added fee? Is this a scam? Is this just another way for my credit card processing company to make more profit? Read on to find answers to these questions.
1. What is this PCI Compliance I see everywhere?
First off, PCI stands for P
ndustry, and is often followed by DSS - D
tandards. In a nutshell, Card Brands such as Visa and Mastercard have mandated that ALL MERCHANTS must comply with a standardized set of rules and standards (PCI DSS www.pcisecuritystandards.com) in order to protect cardholder data from breach, fraud, and theft. It is NOT A SCAM. EVERY BUSINESS must be PCI Compliant. That being said, some businesses do take advantage of merchants in order to make additional money off of them. This is where they idea that PCI is a scam comes from. To learn more about the REAL PCI COMPLIANCE, read on... Read more