If you are accepting payments on your website you need to be sure that you are in compliance with PCI security standards, regardless of the size of your business.
When you search payment gateway India, you might do so as a result of wanting to set your website up to process card payments from customers. In addition, you will also need to familiarize yourself with what PCI DSS compliance is all about.
It stands for Payment Card Industry Data Security Standard and it is a set of security standards and guidelines that cover the processing of debit and credit card transactions. It also covers protocols relating to protecting customer details and card data from potential fraud or theft.
Here is a look at what you need to know about PCI DSS compliance.
Providing a level of reassurance for customers
If you are taking online payments from customers you need to have a relationship with a payment solution provider. One of the key aspects to look for when choosing a payment gateway, for instance, is how robust their security features are.
Data security is of paramount importance for a number of valid reasons.
Online shoppers are always going to be cautious about handing over their card details. They will want to be reassured that your site can be trusted with that sensitive card and personal information.
That means you should be choosing a payment provider who offers the security features demanded by your customers and required by your business to create that level of trust needed.
As long as your website is PCI DSS compliant, you will be providing the sort of security features that will help to reassure your customers. It will also help your business from a regulatory perspective.
Four levels of compliance
Although every online business taking payments has to be PCI DSS compliant, it is the number of transactions you process that dictates what level of compliance you have to adhere to.
To be at level one you will need to be processing in excess of six million card transactions per year.
Level two is when you are handing between one million and six million card payments.
Level three is when you process more than 20K transactions and up to one million payments.
Level four covers any merchant who processes less than 20K card transactions annually.
The main aims and requirements of PCI DSS
You will be required to install and maintain a firewall that is designed to keep cardholder data as safe and secure as possible.
Another key requirement is the ability to protect any stored cardholder data and also to use encryption technology.
You will also be expected to demonstrate that you have strong access control measures in place together with regular monitoring and testing of your network for any weaknesses.
These are just a few aspects of compliance that you will need to think about and it makes sense to avoid achieving the bare minimum requirements when you consider the consequences of a data breach.
Find a payment gateway provider that offers PCI DSS compliance or can help you meet those requirements so that you enjoy peace of mind that you are helping to keep your customer details safe.
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