PCI DSS applies to all the businesses that store, process, or transmit cardholder data and/or sensitive authentication data. It helps in securing cardholder’s sensitive information by ensuring the processes, people and systems that access the data have adequate controls around their usage.
At IRCLASS, we assist merchants and financial institutions understand and implement standards for PCI DSS, that helps them protect systems from breaches and theft of cardholder data. IRCLASS with multiple project experiences, our consultants are well qualified to successfully deliver services PCI DSS along with other ISO Services. To meet the certification requirements of different clients, IRCLASS has a large pool of certified auditors in various locations across India. Apart from this, we also have branch offices in South East Asia, America and Europe.
The PCI DSS was created jointly by major credit-card brands Visa, Master Card, Discover and American Express. The Payment Card Industry Data Security Standard (PCI DSS) is a widely accepted set of policies and procedures intended to optimize the security of sensitive card holder data.
More than 898 million records with sensitive information have been breached from 4,823 data breaches made public between January 2005 and April 2016, according to PrivacyRights.org. As you are a key participant in payment card transactions, it is imperative that you use standard security procedures and technologies to prevent theft of cardholder data.
Data Breach – If you suffer a data breach and you are not PCI DSS compliant you could incur Card Scheme fines for the loss of this data and may be liable for the fraud losses incurred against these cards and the operational costs associated with replacing the accounts.
Reputational damage – It may lead to loss of customer confidence which could impact their willingness to continue to do business with you. Being compliant with PCI DSS means that you are doing your very best to protect your customers valuable information.
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