PCI Compliance is a short cut for The Payment Card Industry Data Security Standard. It is some sort of certification to garniture the privacy of your payment cards and also it is a security standard formed in 2004, and payment gateway must have it. The PCI DSS applies to any organization, regardless of size or number of transactions, that accepts, transmits or stores any cardholder data, also it has four levels.
Levels Of PCI Compliance
PCI compliance certification has four levels, based on the number of transactions business processes, and here are in details the four levels so that the enterprise remains compliant.
Provides Merchants processing over 6 million card transactions per year through world credit or debit card transactions annually. Over 6 million Visa and/or Mastercard transactions processed per year. once a quarter they must submit to a PCI scan by an Approved Scanning Vendor (ASV).
Provides from one to six million real-world credit or debit card transactions annually per year. They’re required to complete an assessment once a year using a Self-Assessment Questionnaire (SAQ). 1 million to 6 million Visa and/or Mastercard transactions processed per year. a quarterly PCI scan may be required.
Provides 20,000 to 1 million transactions per year to merchants. 20,000 to 1 million Visa and/or Mastercard e-commerce transactions processed per year. They must complete a yearly assessment using the relevant SAQ. A quarterly PCI scan may also be required.
Provides fewer than 20,000 transactions per year to merchants. Less than 20,000 Visa and/or Mastercard e-commerce transactions processed per year all other companies that process up to 1 million Visa transactions per year. A yearly assessment using the relevant SAQ must be completed and a quarterly PCI scan may be required.
You may also Know about PCI
To make sure you are doing everything you can to meet all the compliance requirements, you need to verify your transaction volume from the past 52 weeks with the help of your acquiring bank. Once you know what level you are then you need to make sure you are following all the PCI requirements for that particular level. You may need to seek the assistance of an approved vendor or payment processing partner to conduct the validation. Once the validation is complete and sent to the acquiring bank, that bank will then pass on your compliance status to the various card brands you work with.
From level 2 to level 4, they all got the same requirements – yearly self-assessment using the PCI SSC self-assessment questionnaire, a quarterly network scan by an approved scanning vendor.
Level one has higher requirements are a bit more stringent. For PCI level 1 compliance, the merchant is required to have yearly assessments of compliance by.
If you think to have a PCI is a hard thing so you are wrong, because the risks of remaining noncompliant are astronomical. Not only would a customer card data breach tarnish the reputation of your business, but you could also expect to be sued by master card, visa, and a big number of banks.
If you are a start go to the PCI Security Standards Council website. There you’ll find tons of resources and PCI SSC-approved vendors.