What is PCI DSS? The Payment Card Security Standard You Need to Know
PCI DSS refers to the security requirements for managing credit and debit card data, which helps businesses and merchants stay secure while increasing convenience for customers.
PCI DSS is a crucial element driving society towards a cashless world. By enhancing security and protecting sensitive user data for payment cards like credit and debit cards, it has become a standard that helps businesses and merchants embrace new, more convenient, and secure payment methods. We will now explore PCI DSS and its benefits for the business sector.
Article Table of Contents
• What is PCI DSS and why is it important?
• What are the PCI DSS standards?
• What are the benefits of PCI DSS?
• Which businesses are affected by PCI DSS?
• How many levels of PCI DSS are there, and what are they?
• Steps to obtain PCI DSS certification
• KGP Credit Card Installment Service: Secure and Worry-Free with PCI DSS Standards
• What is PCI DSS? Conclusion for businesses that accept credit card payments and interesting service providers.
What is PCI DSS and why is it important?
PCI DSS stands for Payment Card Industry Data Security Standard. It is a set of security requirements for managing credit and debit card data, developed by the PCI Security Standards Council, which includes major credit card providers like Visa, MasterCard, American Express, Discover, UPI, and JCB. Its aim is to enable businesses handling card data to protect cardholders' personal information from theft or unauthorized access.
PCI DSS encompasses guidelines for securing card data, from general payments to online transactions, such as data encryption, access control, network security, and regular system monitoring to prevent data breaches and external attacks. It is therefore a critically important standard in the financial industry and online payment acceptance services. Payment Gateway providers, in particular, play a key role in ensuring that the payment process strictly adheres to this standard.
What are the PCI DSS standards?
Adhering to PCI DSS standards is a crucial approach that helps businesses involved in managing credit card data to protect customer information more effectively. The main requirements of PCI DSS can be summarized as follows:
1. Install and Maintain Firewalls: To prevent unauthorized access to credit card data, especially from internet attacks.
2. Avoid Storing Unnecessary Credit Card Data: Such as CVV codes, which are sensitive information that can be used for fraud.
3. Encrypt Credit Card Data: Especially when transmitting data over risky channels, such as wireless networks on various platforms.
4. Restrict Access to Credit Card Data: Grant access only to individuals who absolutely need it to perform their duties, preventing unauthorized access.
5. Use Antivirus Software: To protect the system from potential threats from viruses or malicious software that could damage the system.
6. Develop Data Backup and Recovery Testing Processes: To ensure quick data recovery in case of issues.
7. Continuously Monitor Data Access and Use: To detect abnormal behavior and reduce the risk of data breaches.
8. Implement Event Logging System: Log access and data changes to allow for auditing and tracking of actions taken retrospectively.
9. Control Data Access: By using complex passwords and regularly changing them to prevent hacking.
10. Regularly Test Security: To regularly check and review security measures to keep up with new threats.
11. Implement Access Control and Monitoring Systems: Configure access so that only authorized individuals can access critical data.
12. Create Data Security Policies: To ensure that employees and relevant parties understand and comply with credit card data security standards as mandated by PCI DSS.
What are the benefits of PCI DSS?
PCI DSS is a standard that plays a crucial role in managing payment card data securely. The main benefits businesses gain from PCI DSS can be categorized as follows:
• Increased Security in Credit Card Data Management: Adhering to PCI DSS standards helps businesses effectively protect critical customer information, such as credit card numbers and personal data.
• Reduced Risk of Data Breaches: PCI DSS standards help prevent unauthorized access, reducing the chance of data theft or hacking.
• Built Customer Trust: Being certified under this standard reflects a commitment to protecting customer data, building strong trust in the system and services of businesses that accept credit cards.
• Compliance with Legal and Industry Requirements: Adhering to PCI DSS helps businesses reduce the risk of fines or lawsuits from violating data protection laws.
• Increased Overall Operational Efficiency: Operating under this standard promotes efficient and transparent security system management within businesses, reducing costs associated with security risks.
Which businesses are affected by PCI DSS?
PCI DSS standards directly impact all businesses involved in handling, processing, or transmitting payment card data. This includes businesses that accept credit or debit card payments, banks providing online payment services via Mobile Banking, payment system providers, and companies that store payment card data for various business purposes.
How many levels of PCI DSS are there, and what are they?
Businesses or merchants that accept credit and debit card payments are categorized into 3 levels under the PCI DSS standard, based on the number of card transactions per year, as follows:
• Level 1: For businesses or merchants with more than 6 million credit or debit card transactions per year, including businesses that have experienced severe data breaches.
• Level 2: For businesses with between 1 and 6 million credit or debit card transactions per year.
• Level 3: For businesses with fewer than 1 million credit or debit card transactions per year, typically small businesses or merchants with relatively low credit card usage.
Steps to obtain PCI DSS certification
If your business or organization is involved in managing credit card data, following the steps to obtain PCI DSS certification is essential. These steps can be summarized as follows:
1. Assess Business Status: Start by evaluating whether your business handles credit card data and at what PCI DSS level it operates, to determine the requirements for compliance (e.g., Level 1, 2, 3, or 4).
2. Verify PCI DSS Compliance: Ensure that your business fully complies with PCI DSS requirements, such as data encryption, access control, and proper credit card data protection.
3. Prepare Relevant Data and Documents: Prepare necessary documents for verification, such as SSL certificates (for secure connections), security measures, and evidence of compliance with various PCI DSS requirements.
4. External Assessment by a Qualified Security Assessor (QSA): For businesses at Level 1 or 2, the services of an authorized QSA (Qualified Security Assessor) are required to conduct an official assessment.
5. Submit PCI DSS Certification Application: Once confident of full compliance, you can submit the application to the authorized certification body.
6. Audit and Certification Issuance: After the assessment, the QSA will verify if your business has complied with all standards. If approved, you will receive official PCI DSS certification.
7. Continuous Monitoring and Security Maintenance: After certification, continuous monitoring and security maintenance must be performed to ensure the certification remains valid and the business continues to comply with the standard.
KGP: Credit and Debit Card Payment Services You Can Trust with PCI DSS Standards
KGP offers credit and debit card payment acceptance services to facilitate closing sales for products and services. Customers can choose to pay in installments according to their preferred cycles, providing more payment options and helping businesses better meet customer needs. At the same time, every transaction ensures security through a security system compliant with PCI DSS standards. This allows both merchants and customers to conduct transactions confidently, with financial data protected from various risks, including data theft and security breaches.
What is PCI DSS? Conclusion for businesses that accept credit card payments
Based on all the information we've presented, we believe you now understand that PCI DSS is a crucial security standard that businesses should know, including what PCI DSS means, what it stands for, and its benefits for businesses. It's essential to study and implement this standard to ensure your business complies correctly.
Currently, KGP fully supports leading global cards such as Visa, Mastercard, JCB, American Express (AMEX), UnionPay, and TPN to elevate the online payment acceptance experience, making it convenient, secure, and increasing sales opportunities for your business. So, whether you sell products through your Facebook Page or other online platforms, you can apply for credit and debit card payment acceptance services that guarantee the security of every transaction under the PCI DSS standard, instilling confidence in both buyers and sellers throughout the payment process.
KGP, Payment. Make It Smooth.
LinkedIn : Kasikorn Global Payment
References
Account Information Security (AIS) Program and PCI | Visa. (n.d.). VISA. https://corporate.visa.com/en/resources/security-compliance.html
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