The number of data breaches reported in 2021 jumped by 68%, reinforcing the critical need for businesses to protect themselves and their customers by meeting PCI standards.
Payment Card Industry (PCI) compliance is a critical responsibility for businesses that store, transmit, or process cardholder data, designed to protect them and their customers from major card schemes, identity fraud, and more.
Many business owners are unsure of how to become PCI-compliant. Becoming PCI compliant doesn’t need to be painful, just follow these four steps to get started:
To figure out which level of PCI compliance your business falls under, collect data on how many transactions are done through your organization with each major credit card brand.
The PCI DSS Self-Assessment Questionnaire (SAQ) is a set of documents containing questions based on the requirements of PCI that you’ll answer “yes” or “no” to. This step can help identify gaps in your payment security.
After bridging the gaps in your payment security, the next step is to fill out a formal attestation of compliance, or (AOC).
This claims your business is compliant with all relevant PCI standards. Once you complete the AOC, you can have a qualified security assessor review your findings and create a report on your compliance.
The final step in your PCI compliance journey is submitting your completed SAQ and AOC documents to your bank, as well as the major card companies.
While an increasing number of business leaders are taking PCI compliance seriously, 80 percent of organizations are still not entirely compliant.
Join the growing number of responsible businesses that are fully protecting their clients and their bottom line by contacting Sourcepass and asking about PCI compliance solutions.
Michael Ducsak is the Sourcepass Chief Information Security Officer. Reach out to Michael at (877) 678-8080.