Payment Card Industry Data Security Standard
Payment Card Industry Data Security Standard
As a Qualified Security Assessor (QSA) company registered with PCI DSS Standards Security Council (SSC) and empaneled by CERT-In, we facilitate end to end PCI audits, certification and training for organisation to become PCI DSS compliant.
To ensure payment card information is not compromised and provide all parties involved with the best possible protection against data misuse, credit card schemes have introduced a safety standard for the handling of payment card and transaction information. This standard, known as Payment Card Industry Data Security Standard or PCI DSS, applies equally to banks (issuers and acquirers), payment service providers, hosting providers, merchants, and payment application providers. Compliance with these PCI DSS standards is verified at regular intervals. Parties who cannot furnish proof of PCI DSS certification are not permitted to process payment card information.
We offer comprehensive advice, preparation, auditing, and verification of your security measures, thereby supporting you in all requirements for PCI DSS certification. If you meet the PCI DSS standards, as an accredited certification body we can supply you with the TÜV SÜD certification mark and all evidence required by the credit-card schemes.
The Payment Card Industry Data Security Standard (PCI DSS) is a collection of security guidelines meant to ensure that ALL businesses that accept, process, store, or transmit any type of payment card data (credit, debit, prepaid, gift cards – which are sponsored by one of the card brands, namely VISA, MasterCard, Rupay, Amex, JCB, Discover, etc), do so securely.
These card brands such as Visa, MasterCard, Discover Financial Services, JCB International, and American Express formed the Payments Card Industry Data Security Standard (PCI DSS) in 2004. PCI compliance framework secures all card transactions from data theft and fraud.
PCI compliance is required for all businesses that are exposed to payment card information for securing the entire payment eco-system. Safeguarding the payment data, helps these companies build long-lasting relations with customers.
The PCI standards define technical and organizational requirements for the storage, processing, and transfer of cardholder information. These standards apply to all parties involved in payment-card processing. The PCI standard also applies to organizations involved in the operation or provision of infrastructure, data centers, and other security-relevant components. For PCI conformity, organizations must fulfill certain criteria and thus provide appropriate evidence.
Today, massive data breaches take place daily, deeming no company or individual safe. Any business that accepts card payments must comply with the PCI DSS. The standard frameworks works on several trading levels, which vary in transactions processed per year and have diverse reporting requirements. The benefits of PCI DSS Compliance are:
1. Mitigate or eliminate data security related risks and threats and protect customers from credit card frauds and financial losses
2. Achieve higher customer confidence, better brand value, and competitive advantage
3. Avoid the high costs associated with data breaches and financial frauds
4. Avoid any penalties levied by banks and other legal bodies for not having PCI DSS compliance
5. Create a baseline for compliance with other regulations
PCI certification requirements are laid down in a standard comprising 12 clauses. To establish a relationship of mutual trust with customers and merchants, all these requirements must be observed and verified at regular intervals. The individual PCI requirements are:
To ensure that you conform to the PCI standard and benefit from the highest security measures, we offer the necessary PCI DSS compliance certification and several additional benefits. The services include:
The PCI compliance process at TÜV SÜD involves the following steps –
1. Feasibility study at your organisation.
2. Policy and governance assessment.
3. Segmentation of pain points.
4. Establishing the scope of assessment.
5. Support for Implementation of controls.
6. Pre-assessment of the processes and technologies.
7. Completing the PCI DSS certification process.
8. Technical Testing – VAPT
In an effort to improve payment card data security, the PCI Security Standards Council (SSC) delivers wide-ranging standards and support resources to aid organisations to guarantee the security of cardholder data at all times.
The PCI DSS compliance service is the basis. It provides the required framework for developing a comprehensive ecosystem of payment card data security process that incorporates the prevention, detection, and response to security incidents.
TÜV SÜD offers PCI QSA services that cover all PCI DSS mandatory requirements . We support you on your way to PCI DSS certification. With our expertise in auditing information security and our experience in the payment card industry, we guarantee security in card-based payments. Our PCI DSS compliance services help you implement effective security systems.
Our references in the finance and payment industry, among banks, commerce, and e-commerce, showcase our extensive experience in payment security.
The PCI DSS standard supports all organisations that process payment cards, helping them to comply with the relevant PCI DSS requirements.
Our accreditations with the PCI Security Standards Council and the payment card schemes authorize us to assist you with all aspects of reaching PCI certification and to issue the PCI certificate.
If your payment system does not have PCI DSS compliance, your business could become vulnerable to data breaches and frauds.
The penalty from payment processors for PCI DSS non-compliance could be between $10 and $1000 per month. This shows as a ‘PCI non-compliance fee’ in the statement.
The term violation applies to state laws. PCI DSS certification is not mandated by law but is a set of standards agreed upon by payment card brands with banks and payment processors. This makes it an issue of non-compliance rather than a violation.
Here are some of the scenarios that indicate non-compliance –
The PCI DSS compliance includes all the data of your customer Payment cards including debit cards, credit cards & prepaid cards. It ensures that the customers get adequate data protection by securely processing, storing, and transmitting the card data.
PCI DSS certification is mandatory for merchants, service providers, financial institutions & banks etc. who are in the business of storing, processing or transmitting card data of their customers. It provides your organisation with the trust to securely execute online card transactions and build trust among your customers.
The process of becoming PCI DSS compliant takes anywhere between 2-weeks to 8 weeks depending upon the size and nature of the organization.
For all businesses which require to comply with PCI DSS, it is mandatory to undergo a PCI DSS compliance audit at least once a year.