What is the Payment Card Industry Data Security Standard?

The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard and set of guidelines that require businesses that accept, process, store, or transmit payment card data to ensure the security of their systems. This standard is applicable to all businesses, regardless of size, that accept, process, store, or transmit payment card information. PCI DSS applies to all payment card brands, including Visa, MasterCard, American Express, Discover, Diners Club, and JCB. PCI DSS was created by the Payment Card Industry Security Standards Council, which is made up of representatives from the major payment card brands. This standard applies to any business that stores, processes, or transmits credit card information. It outlines the controls businesses and merchants need to implement in order to protect against fraud. The standard requires businesses to develop secure network environments, create strong access control measures, implement strong encryption and security technology, regularly test their networks, and maintain an information security policy. Furthermore, businesses are required to periodically assess their compliance with the standard and provide evidence of compliance to payment card companies. In Nebraska, any businesses that accept credit cards must comply with PCI DSS or they face penalties from the payment card companies. If a business in Nebraska fails to comply with PCI DSS, they could be fined or banned from the payment card networks, resulting in the loss of all revenue from credit card transactions. Therefore, compliance with the PCI DSS is an essential part of doing business in Nebraska.

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What is the Payment Card Industry Data Security Standard?

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