To promote the security of the credit and debit card payment systems, the major card brands established the Payment Card Industry (PCI) Security Standards Council to oversee its Data Security Standard (DSS), which requires merchants of all sizes to ensure that their cardholder data is secure.
Fifty percent of cardholder data breaches occur in small businesses, however most business owners underestimate the reputational risk and financial impact of a data breach. A typical breach costs a small business merchant $25,000 – $50,000, but it can run much higher.
What is required to be PCI Compliant
Compliance is validated through the completion of a self assessment questionnaire (SAQ). Merchants are also required to scan their environments on a quarterly basis.
For organizations that do more than 1 million credit card transactions a year, a QSA audit is required.
Evolve IP Makes Compliance Easy
To protect cardholder data and mitigate financial exposure, it is imperative that all merchants validate and demonstrate PCI‐DSS compliance.
Outsourcing your technology to Evolve IP ensures that you are using the most up-to-date security mechanisms to protect your digital assets. By simplifying your technology, you’re actually supporting your compliance!