What is the Payment Card Industry (PCI) Data Security Standard?

The Payment Card Industry (PCI) Data Security Standard is a set of requirements and guidelines designed to ensure that businesses that handle and process credit card and debit card transactions keep customer financial data secure. This standard applies to any business that handles payment transactions, either through electronic or traditional means. In North Carolina, businesses must comply with the PCI Data Security Standard in order to be able to process payments. To do this, businesses must adopt a set of strategies and protocols to keep customer information secure. These security measures include: encryption of cardholder data, computer firewalls, secure passwords, and the monitoring of networks. Businesses that are found to be non-compliant with the PCI Data Security Standard may face fines and other penalties, including the suspension of payment processing privileges. Not only that, but any business found to be in violation of the PCI Data Security Standard could be held liable for any financial losses that result from a data breach. The PCI Data Security Standard is a necessary step for businesses to take in order to protect customer data and provide a secure experience for their customers. It helps establish industry standards and protocols that protect customer financial information, while also helping businesses remain compliant with the law.

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What is the Payment Card Industry (PCI) Data Security Standard?

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