Saturday, May 12, 2012
Comply with PCI DSS to ensure security of e commerce transactions
E-commerce has completely revolutionized the way we make payments. Now it is no longer necessary for us to actually visit a store to effect transactions. Even if we go down to a store it is not necessary for us to carry money with us. Simply stated, plastic money has made our life way easier and all we need to do is provide our credit card details online or just swipe our cards at the store to effect transaction.
There are a total of 12 requirements that you need to comply with to secure your online deals with customers. These rules are as follows: first you will have to install and maintain a firewall configuration to protect card holder data; it is advisable not to use vendor-supplied defaults for passwords and other security parameters; you must take adequate steps to protect the stored cardholder data.
5 major credit card companies- MasterCard worldwide, Visa International, American Express, Discover Financial Services and JCB developed this system. The PCI DSS standard was developed to bring about uniformity and consistency in data security measures. The PCI DSS works towards building and maintaining a secure network, protecting card holder data, maintain a vulnerability management program, implementation of strong access control measures, regular monitoring and testing of networks and maintaining an information security policy. If you handle, store and process credit or debit card data then it is essential that you take immediate steps to comply wit these guidelines.
PCI DSS is a very important piece of guideline. It helps to manage risk, protect customer data, and avoid punitive measures and to stay competitive in the market. If you fail to comply with PCI DSS then you stand to lose good will among your customers and thereby gain negative publicity which can seriously affect your business.
Compliance with PCI DSS is a strict essential if you process, store or transmit credit card information on a regular basis. If you do not comply wit these guidelines then you face the possibility of having to cough up a hefty fine. However, while complying with these norms if you still experience a security breach then you can expect exemption form being fined. Compliance with PCI DSS will ensure that your customer credit information is secure.
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Posted by Staff at 7:44:00 AM