If your business handles debit or credit card data, you’ve probably heard of the PCI DSS (Payment Card Industry Data Security Standard).
It’s an information security framework designed to reduce payment card fraud by requiring organisations to implement technical and organisational defence measures.
We explain everything you need to know about the PCI DSS in this blog, including who it applies to, the benefits of compliance and what happens if you fail to meet its requirements.
Who needs PCI DSS compliance?
Any merchant or service provider that processes, transmits or stores cardholder state is subject to the PCI DSS.
Some organisations can be both a merchant and a service provider. For instance, an organisation that provides data processing services for other merchants will also be a merchant itself if it accepts card payments from them.
Benefits of PCI DSS compliance
The most obvious benefit of PCI DSS compliance is to reduce the risk of security incidents. When organisations implement its requirements, they shore up the most common weaknesses that attackers exploit.
According to the 2020 Trustwave Global Security Report, the majority of data breaches involving cardholder data were CNP (card-not-present) attacks. This indicates that e-commerce platforms are the most vulnerable, but this is only half the pictur ..
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