PCI Compliance
PCI security standards must be followed by companies that accept, process, store, or transmit credit card information. By adhering to PCI standards, businesses of all sizes can safeguard their customers’ credit card information.

Debit and credit card numbers are protected by the PCI DSS. This standard is overseen by the PCI Security Standards Council, a joint venture between American Express and the other major credit card companies (Discover, JCB, MasterCard and Visa). Efforts to “enhance global payment account data security” have been underway since 2006 by the PCI Security Standards Council.

Both are subject to the PCI DSS. A service provider is any business that handles customer data on behalf of another business. Online purchases can be made using a credit card. PCI DSS compliance is required if your business accepts or processes credit or debit cards.

Generally Accepted Accounting Principles
There are 12 goals in the PCI Data Security Standard (PCI DSS). Here’s a quick rundown of what they do.

1. First, make sure your network is safe.
Provide security for cardholder data by installing and maintaining a firewall. Having a firewall in place will ensure the safety of your network and protect your customers’ credit card information. It monitors network traffic and blocks transmissions that don’t meet your security needs.

2. System passwords and other security parameters are not set to vendor defaults.
The password you received from your software vendor cannot be used by your company. Make strong passwords for your computers. Maintain the confidentiality of cardholder information.

3. Secure cardholder information
You run the risk of a data breach if you store credit card information. Multiple levels of data security can be achieved by working with a hosting company that complies with PCI DSS. Restricted access and cabinet locks are both physical methods of restricting access.

4. Encrypt cardholder data during transmission
Data should be encrypted before being sent from A to B. Encryption protocols and network configuration must be robust enough to keep cardholder data safe.

5. Keep anti-virus software up to date
Protect your business from the latest malware threats with antivirus software. Make sure your managed service provider is secure if your data is hosted on external servers.

6. Build and maintain secure systems and applications.
Vulnerabilities will be addressed by a hosting company that complies with PCI DSS by conducting regular system audits and updates.

7. Limit cardholder data access to necessary personnel only.
Allow only a small number of employees access to cardholder information. A security breach can be minimised by restricting user access to a small number of individuals.

8. Assign a unique ID to each person with computer access.
Using a digital ID, you can track all of your employees’ network activity.

9. Restrict physical access to cardholder data.
Data pertaining to your cardholders should be stored in secure on-premise or hosted infrastructure.

10. Track and monitor all access to network resources and cardholder data.
Logs help trace breaches or suspicious activity.

11. Regularly test security systems and processes.
Frequent testing helps catch vulnerabilities early.

12. Maintain a security policy.
A clear policy ensures employees understand expectations and security responsibilities.

The Importance of PCI Compliance
Businesses that accept debit or credit cards must be PCI-compliant to ensure the safety of their customers’ information. The consequences of inaction can be dire:

Penalties
Credit card companies may impose a financial penalty ranging from $5,000 to $100,000 per month.

Data breaches
PCI compliance reduces the severity of breach-related fines and risk of litigation.

Loss of revenue
High fees, security failures, and negative reputation may significantly impact business profitability.

How to Ensure PCI Compliance
PCI DSS compliance is divided into four levels depending on annual transaction volume and breach history.

Requirements may include:

• Self-Assessment Questionnaires (SAQs)
• Quarterly vulnerability scans
• Attestation of Compliance
• Compliance reporting

To be PCI compliant, Extreme Compute suggests:

• Regular employee training
• Reducing systems that process cardholder data
• Enforcing secure password and access rules

Full compliance takes time — focus step by step and progress consistently toward full adherence.