Payment Card Industry Data Security Standard (PCI DSS)
What is the Payment Card Industry Data Security Standard?
Payment Card Industry Data Security Standard (PCI DSS) is an international set of policies and processes. It allows improving the safety of both merchants and clients’ financial data. It also safeguards all the transactions against harm. PCI DSS decreases the credit card frauds.
How does the Payment Card Industry Data Security Standard work?
PCI DSS supports the client in finding out the exposure of the customer’s system and actions. That, in turn, enables the consumer to carry out efficient preventative actions. Therefore, PCI DSS prevents hacker’s, and fraudster’s attacks. Additionally, it exists in order to prevent the client’s business from any kind of data loss, theft or damage.
The status of PCI DSS bases on the number of transactions the client conducts per card scheme as well as the approach the client integrates. The standard clarifies three main purposes:
- Securing network
- Securing data
- Preventing malicious hackers.
- Decreasing fraud.
- Decreasing chargebacks.