When you accept a credit card from your customer, you receive a great deal of sensitive data. With it comes the responsibility to keep their credit cards and personal data safe. To ensure that both the businesses and consumers are protected, the major credit card companies, namely American Express, Discover, MasterCard, and Visa, established a set of standards known as the Payment Card Industry (PCI) Data Security Standards (DSS).
All businesses, regardless of size or number of transactions that accepts, transmits, or stores any cardholder data are mandated to maintain PCI compliance. If you’re not in compliance with PCI DSS, you’re putting your entire business at risk. In case of a security breach, if it’s found that you are not PCI compliant, you’ll be paying hefty fines to your bank for failing to protect your customers adequately; and possibly even lawsuits.
Despite the large companies being in news over the credit card breach over the last few years, small businesses are prime targets for hackers.
70% of all reported data breaches occur in small businesses.
Ensure your own business is PCI compliant to avoid any potential repercussions later, and take solace in the fact that your customers’ credit card data is safe.
Commerce Pundit team of experts can help you become compliant with PCI DSS.
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