Understanding PCI DSS and its Importance
The Payment Card Industry Data Security Standard (PCI DSS) is crucial for ensuring the security of cardholder data and promoting consistent data security measures globally. With 12 technical and operational requirements and over 200 controls, PCI DSS aims to protect credit card data and is mandated by card brands and overseen by the Payment Card Industry Security Standards Council. Compliance is obligatory for entities involved in payment card processing, including merchants, processors, acquirers, issuers, service providers, and any organization handling account data. Non-compliance can lead to severe consequences such as fines, reputational damage, and the inability to accept major credit cards.