The first version of the Payment Card Industry Data Security Standard (PCI-DSS) compliance framework was released in 2004 by a group of major credit card companies from around the world, including Visa, Discover, MasterCard, JCB International, and American Express, in order to reassure credit card holders that their transactions are being completed end-to-end in a secure manner.
In 2006, the same businesses established the Payment Card Industry Security Standard Council (PCI SSC). Since then, the PCI-DSS architecture has been required for all credit card transactions made by cloud-hosted payment companies globally.
Now that, PCI-DSS has shaped up to be globally recognized as a well-known security standard that is regarded as the finest approach to safeguard sensitive information and build trustworthy customer relationships in the payments sector, it is imperative for personnels operating in the industry to comprehend the basics of this complicated compliance framework.
That is why, we, at Akitra, decided to curate a series to address the most frequently-asked questions about PCI-DSS. In this blog, we want to provide you with factual information, so you may better grasp this complex compliance framework.
If you want to take a glance at the first part of this guide, you can do so by clicking right here <insert link to first blog on topic>.
What is the PCI-DSS Certification?
The required minimum security practices described in PCI DSS, which was created to serve as a foundation for control, should be implemented by every cloud-hosted organization that accepts credit card payments.
If you’re interested in learning more, please check our blog right here, where we provide you with a concise rundown of the full structure and list its advantages.
5 Most Frequently-Asked Questions about PCI-DSS
- Does PCI-DSS apply to debit cards, debit systems, and the payments made with them?
The PCI compliance programs of a PCI SSC Participating Payment Brand may apply to any payment card (credit, debit, prepaid, stored value, gift, or chip) displaying that brand’s logo.
For information on the payment brands’ compliance programs, entities should get in touch with them directly.
Contact the relevant payment network or brand with any inquiries on compliance standards for payment card account data connected to other payment networks or brands.
2. How to define a “Participating Payment Brand” for the PCI-DSS standard?
A payment brand that, as of the relevant moment, has been formally admitted as (or an associate of) a member of PCI SSC in accordance with its bylaws is referred to as a PCI SSC Participating Payment Brand. Participating Payment Brands at the time of writing include Strategic Members and Founding Members of the PCI SSC.
3. If my company doesn’t store credit card data, does PCI-DSS apply to us?
As long as the organization accepts credit or debit cards as a form of payment, PCI-DSS applies to the company. It may be simpler to become secure and compliant if you don’t hold card data because doing so poses a risk.
4. Does an SSL certificate make my company PCI-DSS compliant?
No. A web server is not protected from malicious intrusions or attacks by SSL certificates. There are other measures to take in order to achieve PCI compliance, however high assurance SSL certificates offer the first tier of customer security and confidence, such as, achieving confirmation that the web server and the customer’s browser are connected securely and that the website owners are a reputable, legally responsible company.
5. How to define the term “Merchant” for the PCI-DSS standard?
A merchant is any organization that accepts payment via credit or debit cards bearing the logos of any of the five PCI SSC members — American Express, Discover, JCB, MasterCard, or Visa — in order to purchase goods and/or services. If the services sold result in the storage, processing, or transmission of cardholder data on behalf of other merchants or service providers, then a merchant that takes payment cards as payment for products and/or services can also be a service provider. For instance, an ISP is both a service provider and a merchant if it hosts other merchants as clients and accepts credit cards for monthly billing.
PCI DSS Compliance with Akitra!
Establishing trust is a crucial competitive differentiator when courting new SaaS businesses in today’s era of data breaches and compromised privacy. Customers and partners want assurances that the organizations with whom they do business are doing everything possible to prevent disclosing sensitive data and putting them at risk. Compliance certification fills that need.
Akitra offers an industry-leading, AI-powered Compliance Automation platform for SaaS companies. Using automated evidence collection and continuous monitoring, together with a full suite of customizable policies and controls as a compliance foundation, our service helps customers become certified for PCI DSS, along with other frameworks like SOC 1, SOC 2, ISO 27001, HIPPA, GDPR and NIST 800–53. Our compliance and security experts will also provide you with the customized guidance you need to confidently navigate the end-to-end compliance process.
The benefits of our solution include enormous savings in time, human resources, and money — including discounted audit fees with our audit firm partners. Customers achieve compliance certification fast and cost-effectively, stay continuously compliant as they grow, and can become certified under additional frameworks using a single compliance automation platform.
Build customer trust. Choose Akitra TODAY!
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