Prevent Data Fraud and Protect Your Reputation with PCI Standards
One of the most valuable merchant account services that
credit card processing companies
can offer merchants is security: a secure connection and information about how
to keep data secure and following established security standards can go a long
way to instilling confidence on the part of merchants and their customers, while
actually protecting them from fraud and theft that can hamper business efforts.
Payment Card Industry (PCI) Data Security Standards (DSS) were established by a
global council comprised of five international credit card providers and
industry security experts. The PCI Council set up these standards to ensure that
consumers are protected in a uniformly efficient way. Small and medium sized
business owners that lack a close relationship with the credit card industry may
lack essential information about these standards, a shortcoming that can put
them at risk of fines, assessment fees, or credit card processing service
termination at the hands of credit card companies. Worse yet, it could leave
merchants vulnerable to easily preventable security breaches.
The PCI DSS can be boiled down to these simple principles:
-Build and Maintain a Secure Network
-Install and maintain a firewall configuration to protect cardholder data
-Do not use vendor-supplied defaults for system passwords and other security
parameters
-Protect Cardholder Data
-Protect stored cardholder data
-Encrypt transmission of cardholder data across open, public networks
-Maintain a Vulnerability Management Program
-Use and regularly update anti-virus software
-Develop and maintain secure systems and applications
-Implement Strong Access Control Measures
-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
-Regularly Monitor and Test Networks
-Track and monitor all access to network resources and cardholder data
-Regularly test security systems and processes
-Maintain an Information Security Policy
-Maintain a policy that addresses information security
These all seem like basic common sense security practices, yet are
representative of the kinds of mistakes consumers and merchants frequently make
regarding the security of sensitive information.
Fortunately, the PCI Council has published several in-depth guides to conducting a
self-assessment of compliance and a correlated implementation guide, which can
be accessed from the council’s website,
www.pcisecuritystandards.org.
However, for many small and medium sized business owners, this will prove a
confusing endeavor without expert support. That’s where a
merchant account services provider can help. A merchant’s payment processor has a clear incentive to
keep its customers happy, secure, and in compliance so that they money continues
to flow. So regardless of any other circumstances, there is no reason for any
merchant to neglect implementing PCI Data Security Standards.