5 reasons why online businesses can’t afford NOT TO BE PCI compliant

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Comply with the PCI standards and stay clear of troubles

PCI Compliance

The Payment Card Industry Data Security Standard (PCI DSS), is a set of security guidelines applicable to all organizations which accept, store and process credit card information. To make online transactions more secure than ever before, the Payment Card Industry Security Standards Council (PCI SSC) was created by the leading credit card brands as an independent body back in 2006. The Payment Card Industry Security Standards Council governs (PCI SSC) and monitors PCI DSS. Click here for the official set of standards on the PCI SSC website.

In an era when incidents of data breaches and cyber fraud continuing to reach new heights, the implementation of these guidelines is an absolute must. It is almost impossible for an independent body to manage and secure confidential data of millions of users. This is why these guidelines were created. It is the responsibility of the merchants dealing with credit cards/debit cards to protect and implement the proper security measures.

Visa, an American financial services company has classified the merchants into four categories based on the aggregate number of transactions. Under the PCI DSS, the merchants/companies handling payment cards must satisfy the 12 primary requirements.

12 Primary PCI DSS Requirements

The PCI SSC has defined 12 primary requirements that all the parties dealing with payment cards must meet. When it comes to implementing these requirements, the council is very stringent and offers little room for error. In the case of failure to meet any of these requirements, the Council may give hefty penalties or it might even discontinue providing its services.

  • Install and maintain a firewall and router configuration to protect cardholder data
  • Do not use vendor-supplied defaults for system passwords and other security parameters
  • Protect stored cardholder data
  • Encrypt transmission of cardholder data across open, public networks
  • Use and regularly update anti-virus software or programs
  • Develop and maintain secure systems and applications
  • Restrict access to cardholder data by business need to know
  • Assign a unique ID to each person with computer access
  • Restrict physical access to cardholder data
  • Track and monitor all access to network resources and cardholder data
  • Regularly test security systems and processes
  • Maintain a policy that addresses information security for all personnel

Click here to learn about these requirements in depth.

Easily satisfy the PCI council’s strict requirements using our PCI scanning products

To avoid unfortunate incidents and to keep the businesses away from the cloud of suspicion, fulfilling the aforementioned requirements of PCI industry has become an inescapable route to safety these days. At first, satisfying these stringent requirements may seem to be a daunting task, not anymore. Fortunately, the PCI scanning products have got your back.

pci compliance scan

These products make this seemingly perplexing task easy and affordable than ever before. These tools not only help you detect any susceptibility present in the system, but they also fix them on their own—saving yourself from exhausting procedures. PCI scanning products such as Comodo HackerGuardian and Comodo PCI Scanning Enterprise Edition can be of immense help for the enterprises. Let’s understand the functionalities of both these products in detail.

 

Comodo HackerGuardian

HackerGuardian PCI Scanning tool is a very useful product when it comes to meeting the conditions of PCI council. This is an excellent product by Comodo which saves your precious time and money. It continuously keeps track of any vulnerability present in the system and fixes it automatically. This is done by keeping track of all the external-facing IPs. At the end of the scan, you can see all the details in the automatically generated report. It also delivers all the necessary documents which are needed to satisfy the PCI requirements.

One thing for sure is that not a single penny spent on the Comodo HackerGuardian is going to be wasted.

Comodo PCI Scanning Enterprise Edition

Comodo PCI Scanning Enterprise Edition is another effective solution as far as PCI standards are concerned. It helps you safeguard online transactions by protecting external as well as internal IP addresses. The Comodo PCI Scanning Enterprise Edition can scan multiple servers as well as multiple server types. It proves to be a great option for large-scale enterprises as it fortifies the payment getaways by implementing latest security measures and delivering timely reports.

Again, an exceptional product by Comodo!

5 undeniable advantages to being PCI compliant

In today’s age when hackers and fraudsters are always on the prowl and customers are used to smell the rat, there is no reason NOT TO take your website security seriously. For online businesses, embracing the standards set by the PCI SSC is as important as installing an SSL certificate. You don’t want to pay a heavy fine, do you? These guidelines may seem like a burden but trust us, it’s not. From time to time, it has been proven that enterprises being PCI compliant hold the upper hand over the non-compliant ones.

Here are five reasons why you should DEFINITELY consider being PCI compliant:

 

1. Lesser Risk

Starting from using & maintaining a firewall to maintaining a policy for all personnel, it does one job—protect your website. It’s no secret that hackers and cyber criminals will have a tough time breaching your web security if you have proper tools and policies in place. A survey conducted by Verizon in 2015 indicate that PCI compliant companies have 50% less chance of suffering a data breach incident.

 

2. Improved Customer Trust

It’s an indisputable fact that today’s tech-savvy customers are much more concerned and aware when it comes to their online security. One of the most important requirements that enterprises must fulfill is: “Encrypt transmission of cardholder data across open, public networks.” How do you employ encryption? An SSL certificate does the job. After installing an SSL certificate on your website, your site will also be equipped with trust signs and site-seals. These signs instill an element of trust in the minds of the customers and they feel safer giving you their banking details.

 

3. More Trust = More Business

Trust-signs, such as a green padlock and the green address bar, indicate commitment from the merchant’s side to the customers. This results in fewer carts getting abandoned and consequently, increases your order conversion ratio.

 

4. Enhance Reputation

You don’t want your business to shut down if some bored college kid decides to hack your website, do you? The thing about online businesses is that it gives very little room for error. One incident and bam!! The news of smallest of data breaches could crater your online reputation—and you could be ruing your ignorance. So, it’s better to play by the rules and comply with PCI.

 

5. Steer Clear of Massive Penalties

In the case of account data compromises or data breaches, there are colossal expenses waiting for you. Starting from the inspection of the breach to providing new credit cards—everything must come from your pocket. You can be fined up to $5,000,000 per incident. Following the guidelines of PCI helps you avoid these kinds of expenses.

 

You’ve heard of always staying one step ahead, but when it comes to cyber security, you should always try to stay two steps ahead by complying with PCI standards.

Is your business PCI DSS compliant? You’re digging your own grave if not
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This entry was posted in PCI Compliance by Mit Gajjar. Bookmark the permalink.

About Mit Gajjar

I have been working as SSL security expert for 6 years and i have assisted to plenty of users to solve their technical issues while installation of SSL certificates on their web servers. It’s really great experience working with Platinum Partner Company CheapSSLSecurity to offer the most reliable SSL certificate security solution on the internet. Being Platinum Partner Company of Symantec, GeoTrust Thawte, Comodo, and RapidSSL, CheapSSLSecurity offers the cheapest SSL certificates security on the internet which starts at just only $3.20/yr.