Understanding PCI compliance and basic requirements is essential for any business who wants to accept credit cards or debit cards as a form of payment, especially those with high risk merchant accounts.
What Does PCI Stand For?
PCI stands for Payment Card Industry, it’s the first part of the full acronym PCI DSS. The DSS portion stands for Data Security Standard . Altogether, this is the set of rules that keep card data secure so consumers can feel confident making transactions with credit and debit cards.
What Is The Meaning of PCI Compliance?
PCI compliance means your company follows the standards in place to protect cardholder data. These standards are set by the . This group was created in 2006 when card brands combined to refine the systems in place for security and protection.
