Pin It

PCI Compliance: Why Is It Important?

digital lock1

At Payza, we cannot emphasize enough the importance of keeping yourself safe online, especially when it comes to making purchases or other financial transactions. We want you to have the ability to browse and shop online with confidence, so keeping your personal information secure is one of our top concerns. We are always trying to provide you with the best information to help keep your details safe, even when you are not using Payza to shop or enable your customers to safely checkout.

What is PCI Compliance?

We have written a lot about online security, and you may have heard us mention PCI Compliance and wondered what that means. PCI stands for Payment Card Industry. However, when we say “PCI Compliance” we’re actually referring to compliance with PCI DSS, which stands for the Payment Card Industry Data Security Standard. PCI DSS is an information security standard that any organization which processes credit card payments is required to meet.

So why is it important?

PCI DSS is designed to prevent credit card fraud through a set of data controls and security measures.

To be compliant with PCI DSS, companies in the payment card industry must prove that they fulfill all of the following requirements:

  • Build and Maintain a Secure Network: A firewall must be established and maintained in order to protect cardholder information. This can help prevent a leak of information even if a network is compromised.
  • Protect Cardholder Data: Data must be stored in a secure and protected manner. Any data that is transmitted over an open or public network must be encrypted.
  • Maintain a Vulnerability Management Program: In-house systems and applications must be securely built and maintained. Anti-virus software must be regularly updated to ensure all the most recently discovered threats are taken into account.
  • Implement Strong Access Control Measures: Only people with a legitimate business reason to view cardholder information can be granted access. Each person with access must be assigned a unique ID and login credentials. Physical access to cardholder data must be restricted as well.
  • Regularly Monitor and Test Networks: All access to cardholder data through the secure network must be tracked and monitored. Security systems and processes must be subject to regular tests to ensure that they are secure.
  • Maintain an Information Security Policy: Maintain a policy that addresses information security for all personnel within the organization, including those with access to cardholder data.

Whenever you see the PCI seal of approval, you know that the company you are dealing with can be trusted with you and your customers’ payment card data.

What does this mean for consumers and merchants?

Online Shoppers: before entering your credit card information to pay online, it is in your best interest as a consumer to ensure that the company is PCI Compliant. One way to do so is to click on the various security seals on their homepage.

For example, if you go to Payza.com and scroll to the bottom of the page you will see 3 security seals. PCI certification is performed by licensed agents such as (in Payza’s case) Trustwave. Clicking on the Trustwave security seal will open a pop-up which confirms Payza’s security certifications. Keep in mind that you will never see certification given directly from the PCI Security Standards Council. Certification will always be supplied by licensed agents.

PCI is there to help ensure your safety. If you’re ever uncertain whether a website is secure, do not enter your credit card information. Instead, use Payza to ensure that all of your financial transactions are processed securely. Payza is PCI DSS Level 1 Compliant, which is the certification of security for the world’s largest merchants and payment processors. Rest assured, your personal information is safe with us!

Online Merchants: Displaying the security seals on your homepage is a good way to showcase your commitment to keeping data secure and establish trust with your potential customers. Better yet, you can use a trusted third-party payment processor like Payza to handle your checkouts.