Point of Sales has become much common component of businesses these days. It has made mode of payment much easier for the customers to pay their bills through credit cards. However it also stands a medium for the cyber frauds to target small businesses that accept credit or debit card payments from customers. It has been found that about 60% of the small businesses have been compromised by security breaches within a span of 6 months. Protecting your customers’ payment is essential and is much of a critical aspect for a good business closure. With cyber crime happening every hour, there is a higher probability of data breach that rips down the confidential information of the company.
The Payment Card Industry Data Security Standard (PCI DSS) was launched by major card brands on September 2006. PCI is controlled by PCI SSC that comprises of major card brands like MasterCard, Discover, Visa and AMEX as representatives. PCI compliance is good to protect your customers and hence your business. It is mandatory for every business that accepts credit cards to strictly adhere to the Payment Card Industry Data Security Standard (PCI DSS). This encompasses a set of essential requirements that assures to provide a secure space for all the businesses that functions, save or transfer the customers’ credit card information.
How can a business be PCI Compliant to be protected from Cyber Threats
While running a business it is important to be PCI Compliant. You should first know the requirements for your business to be compliant. Both the business environment or the network and the transactions that are done should be compliant. PCI Compliance can be applied to any business that possess a Merchant ID to nourish account security for every single step of the transaction process.
Some PCI Compliance Guidelines
- It is advisable to use approved Point of Sale devices
- Refrain from saving card holder’s information on your computers
- Protect your PC and network with a Firewall
- Secure your wireless router effectively with a password
- A strong password is much recommended with a combination of lower and uppercase letters, numbers and special characters
- Do not use the default passwords
- Educate your employees on how to protect the card holder data and let them know the importance of it.
Simple steps to follow the PCI standard.
1. It is advised to note down the list of your business processes and IT assets for payment card processing and also analyze the same if they are prone to any vulnerabilities.
2. Immediately react in taking necessary action against the vulnerabilities if found.
3. Avoid saving card holder data.
4. It is important to submit reports that are required to the card brands with which you perform business.
Cyber security and PCI compliance goes well hand in hand as far as a business security is concerned. You are through to secure your business when you follow the necessary guidelines.