IN THIS ARTICLE:
Learn about PCI compliance, why it is important, and what steps you need to take to ensure that your facility keeps credit card information secure.
- What is PCI Compliance?
- Why is PCI Compliance Important?
- Is iClassPro PCI Compliant?
- What does this mean for you?
What is PCI Compliance?
The Payment Card Industry (PCI) is a set of industry-mandated requirements applicable to any business that handles, processes, or stores credit cards, regardless of the business size of processing volume. The PCI council was founded by major card brands like Visa, MasterCard, Discover, and American Express to create a set of technical requirements pertaining to data security.
- Build and Maintain a Secure Network
- Protect Cardholder Data
- Maintain a Vulnerability Management Program
- Implement Strong Access Control Measures
- Regularly Monitor and Test Networks
- Maintain an Information Security Policy
Why is PCI Compliance Important?
Recent analysis of compromises has shown that common security weaknesses, which are addressed by PCI DSS controls, are often exploited because the PCI DSS controls either were not in place or were poorly implemented when the compromise occurred. A security breach and subsequent compromise of payment card data has far-reaching consequences for affected organizations, including:
- Regulatory notification requirements
- Loss of reputation
- Loss of customers
- Potential financial liabilities (for example, regulatory and other fees and fines), and
Is iClassPro PCI Compliant?
iClassPro recognizes the importance of data security to protect our merchants and their customers. In accordance with the PCI DSS (payment card industry data security standards), iClassPro Merchant Services is a Level 1 PCI Compliant Service Provider.
What does this mean for you?
Although iClassPro securely processes and stores card data for you, as a merchant, you are also required to be compliant with PCI DSS. It is each merchant's responsibility to complete the correct PCI annual Self-Assessment Questionnaire (SAQ) which can be found on the PCI website at www.pcisecuritystandards.org.
For more information on the SAQ forms visit the PCI Instructions and Guidelines at https://www.pcisecuritystandards.org/pci_security/completing_self_assessment
Please feel free to contact our payments team at Payments@iClassPro.com if you have additional questions about PCI Compliance.