What is PCI Compliance?
Posted on July 20, 2015
PCI stands for the Payment Card Industry. It is a proprietary information security standard for organizations. This includes the handling of branded credit cards. It entails a set of requirements to ensure that companies can process, store, and transmit credit card information in a way that maintains security. It applies to all organizations that pay merchants directly with a credit or debit card. There are four different levels of PCI Compliance. Level one is for any merchant processing over 6M Visa transactions per year. Level two is for any merchant processing 1M to 6M Visa transactions per year. Level three is for any merchant processing 20,000 to 1M Visa e-commerce transactions per year. Finally, level four is for any merchant processing less than 20,000 Visa e-commerce transactions per year. Businesses must self-assess which level of PCI compliance they fall under. The compliance of merchants is managed by the individual payment brands. The PCI Standard is administered by the Payment Card Industry Security Standards Council. Overall, the standard was created to increase controls on cardholder data for security purposes. Knowing about your company's role in PCI Compliance in protecting payment card information.