PCI Compliance

If you accept credit or debit cards as a form of payment, you need to comply with the Payment Card Industry Data Security Standard (PCI DSS). This is a set of requirements that ensure the security and protection of cardholder data. PCI compliance is not only a legal obligation, but also a competitive advantage for your business.

Benefits of PCI Compliance

By achieving PCI compliance, you can:

• Reduce the risk of data breaches and fraud. PCI compliance helps you prevent unauthorized access, use, or disclosure of cardholder data. This reduces the likelihood of costly and damaging data breaches that can harm your reputation and customer trust.
• Avoid fines and penalties. If you fail to comply with PCI DSS, you may face fines from the payment card brands, as well as legal action from regulators, customers, or other parties. These fines can range from $5,000 to $100,000 per month, depending on the severity and duration of the violation1.
• Increase customer confidence and loyalty. PCI compliance demonstrates your commitment to protecting your customers’ sensitive information. This can enhance your brand image and customer satisfaction, leading to increased sales and retention.

Requirements for PCI Compliance

PCI compliance is based on 12 operational and technical requirements that cover six key areas:

• Build and maintain a secure network and systems. This includes installing and maintaining a firewall, changing vendor-supplied default passwords, and encrypting cardholder data in transit and at rest.
• Protect cardholder data. This includes restricting access to cardholder data, masking the primary account number (PAN), and implementing a data retention and disposal policy.
• Maintain a vulnerability management program. This includes using and updating antivirus software, developing and maintaining secure applications, and identifying and fixing security vulnerabilities.
• Implement strong access control measures. This includes assigning a unique ID to each person with access to cardholder data, restricting physical access to cardholder data, and implementing a least privilege principle.
• Regularly monitor and test networks. This includes tracking and monitoring all access to cardholder data, testing security systems and processes, and conducting internal and external audits.
• Maintain an information security policy. This includes establishing a formal security policy, educating staff on security awareness, and addressing security incidents.

The level of PCI compliance you need to achieve depends on the volume and type of transactions you process, as well as the payment card brand you work with. There are four levels of PCI compliance, ranging from Level 1 (the highest) to Level 4 (the lowest). Each level has different validation requirements, such as self-assessment questionnaires, vulnerability scans, penetration tests, and onsite audits.

How to Achieve PCI Compliance

Achieving PCI compliance can be a complex and challenging process, especially for small businesses that lack the resources and expertise to do it on their own. That’s why you need a reliable partner that can help you navigate the PCI compliance journey and provide you with the tools and support you need.

At Precision Solution Group, LLC (PSG), we offer a comprehensive solution for PCI compliance that includes:

• PCI compliance assessment. We help you determine your current level of PCI compliance, identify any gaps or issues, and provide you with a roadmap to achieve and maintain compliance.
• PCI compliance software. We provide you with a cloud-based platform that simplifies and automates the PCI compliance process. You can easily complete the self-assessment questionnaires, perform the vulnerability scans, generate the reports, and submit the evidence to the payment card brands.
• PCI compliance support. We provide you with 24/7 access to our team of PCI experts, who can answer your questions, guide you through the compliance process, and assist you in case of a security incident.

With PSG, you can achieve PCI compliance with ease and confidence, while focusing on your core business.