Payment Card Industry Data Security Standard (PCI DSS)

Payment Card Industry Data Security Standard (PCI DSS)

The Payment Card Industry Data Security Standard (PCI DSS) is a global security standard developed to ensure and enhance the security of payment card data. It is established by the Payment Card Industry Security Standards Council (PCI SSC), an organization founded by major credit card companies such as Visa, MasterCard, American Express, Discover, and JCB.

PCI DSS aims to reduce data theft, fraud and other security risks related to credit and debit card information. The standard imposes security requirements and best practices on organizations that process, store or transmit payment card data, including merchants, banks, payment processors and other parties in the payment chain.

The PCI DSS standard includes six core goals, divided into twelve requirements:

1. Security Requirements for Cardholder Information
- Protect saved cardholder data.
- Encrypt the transfer of cardholder data over public networks.

2. System configuration security requirements:
- Manage system configuration defaults and other security parameters.
- Secure vulnerabilities and regular security updates.

3. Access control security requirements:
- Restrict access to cardholder data based on need to know.
- Assign unique identifiers to users and administrators.
- Restrict physical access to cardholder data.

4. Security requirements for network security:
- Install and maintain a firewall to protect cardholder data.
- Use encryption to protect sensitive data during transfer.

5. Security requirements for security management:
- Implement strong security policies and procedures.
- Regular testing and monitoring of security systems and processes.

6. Security Requirements for Security Awareness:
- Create and maintain awareness of information security for all staff.

Organizations involved in the processing of payment card data must comply with PCI DSS requirements and conduct regular audits and checks to ensure compliance. Failure to comply with the PCI DSS can lead to fines, liability and reputational damage for companies involved in payment processing.

Updated on 07 Aug, 2023