PCIDSS (Payment Card Industry Data Security Standards):
PCIDSS as per the expansion denotes the in-and-out processes happening in payment card sectors and requirements they’ve got meet in order to be compliant with the respective standards. The PCI standard is mandated by the card brands but administered by the Payment Card Industry Security Standards Council. This standard was introduced to minimize the credit card frauds that are predominantly occurring almost everywhere.
Why PCIDSS Assessment?
Imagine storing all your money and jewels in a locker but that locker isn’t secured? Does all your earnings then make sense? Absolutely No!
Similarly, doing financial transactions using cards but being unaware of the threats around it and due to it is harmful as insanity is the biggest curse and crime in this information era. Thus, the requirement of PCIDSS audit arises with three major processes involved namely:
- Assess – Identifying cardholder data, taking an inventory of IT assets and business processes for payment card processing and analyzing them for vulnerabilities.
- Remediate – Fixing vulnerabilities and eliminating the storage of cardholder data unless absolutely necessary.
- Report – Compiling and submitting required reports to the appropriate acquiring bank and card brands.
Boons of Cycatz:
Every company that’s subjected to PCIDSS standard must be PCI compliant and hence proper PCIDSS audit is mandatory. On that note, Cycatz has a well experienced and an able minded team in performing successful PCIDSS audits. During audit,
- Our auditors first identify under which compliance level, the company comes under (out of 4 levels).
- Next, our auditors check if all the 12 requirements of PCIDSS have been met.
- If not, the unfulfilled ones will be looked after and dealt with the focus and assistance to get it done.
- Then, the process of compliance validation will be done and the process goes on until there’s nothing to worry and complain about.
- Our auditors ensure the requirements are met and are compliant with the PCIDSS standards.
Wake Up words:
Being complaint with PCI DSS standards is mandatory; if not, the company will be subjected to hefty PCI DSS fines!
To know further, feel free to reach us out at [email protected] anytime.