subject: An Ideal Security To Credit Card Transactions Pci Compliance Industry [print this page] In order to find out if a business is PCI compliant, the decisive footstep is to complete a PCI Self-Assessment Questionnaire. By following this it can be determined whether the business is PCI compliant or not. If the business is not PCI compliant, there are established steps to be taken to achieve regulatory compliance.
Being PCI compliant simply means that the business meets the requirements established by the Payment Card Industry (PCI) Security Standards Council. In order to be PCI compliant, these standards ought to be met.
If the credit card payments are processed, the business needs to meet the values in order to be PCI compliant. If the business is not PCI compliant, it is at risk.
If a PCI compliance industry falls out of compliance, it is at risk of losing its merchant account, which means it wont be able to accept credit cards. The result can be devastating, insuppressibly annihilating credibility & customer loyalty and, ultimately, dissolution of business.
To find out where the business is PCI compliant or not depends on four levels of judgment, framed by the Security Standards Council which are: level 4, which is for small businesses processing less than 20,000 eCommerce transactions and less than 1 million other transactions every year. level 3, which is for the mid-sized companies at this level range between 20,000 and 1 million transactions annually, level 2, which is for companies between 1 million and 6 million transactions annually and level 1, which is for major corporations and big box stores having a minimum of 6 million transactions per year.
In response to the staggering increase in cyber crime, the PCI compliance industry has been set up. Its the mission of PCI compliance industry to create a set of security requirements for businessmen. This set of continually evolving requirements has to be followed by all companies that accept credit card payments on the internet. When a company makes the decision to sell online, a merchant service account must be obtained. These accounts are issued through banks and other financial institutions. But before any bank will issue a company an account, that company must prove that their website is PCI compliant.
