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How PCI DSS Compliance Can Help Your Online Business

Jumat, 06 September 2013 | di 23.18

The concept of shopping online has been embraced by more and more consumers nowadays. And why won't they? They can easily and quickly buy all the latest gadgets, clothes as well as accessories right within the comfort of their own homes with just a few clicks of the mouse. They don't have to worry about bad weather or going through heavy traffic. Moreover, they don't have to waste their time and effort in going to a store that they are not 100% sure that the product they're looking for is actually available or not.

The idea of online retailing had also been embraced even by start-up businesses as well as small and medium enterprises as the concept enables them to compete with much bigger business enterprises. They are allowed to offer competitive rates for products that are similarly offered in brick-and-mortar establishments with less overhead costs.
If you happen to be selling products or services online, you might have applied a number of things to increase your competitiveness with other enterprises. Things like social media and optimisation of your online site's interface for optimum user experience as well as SEO campaigns. However, have you actually given enough thought to PCI DSS compliance or Payment Card Industry Data Security Standards?
PCI Compliance, Australia owners of business enterprises should know, was established in the year 2006 by the PCI Security Standards Council, which is also made up of the five global payment brands: Visa Inc., MasterCard Worldwide, American Express, Discover Financial Services and JCB International.
For businesses that handle, store and process credit card data, PCI DSS Compliance is compulsory. Compliance must not be ignored by owners of small businesses as the PCI Security Standards Council states that 80% of security breaches occur in small businesses in the United States alone. This figure might even go up worldwide with the growing trend of shopping online if security protocols are not established and enforced well. An online retailer's merchant bank can be slapped with a hefty fine, if he fails to comply with the standards set by the PCI Security Standards Council, which will then be passed on the online retailer. Furthermore, card acceptance privileges may be lost by retailers that fail to comply.
There are fundamentally six requirements for total PCI DSS Compliance. These include protecting the cardholder data; the building and maintenance of a secure network, implementation of strong access control protocols; vulnerability management program maintenance; routine monitoring and testing of networks, penetration testing and maintenance of information security policy.
If you are an online merchant, you might have implemented a few measures to raise your competitiveness. These might include social media and SEO campaigns and optimisation of your website's interface for optimal user experience. But have you given thought to Payment Card Industry Data Security Standards or PCI DSS compliance?

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