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Payment Gateway Compliance

Payment Gateways have become one of the most important means used by customers to buy products through the Internet or to eliminate any of the services so they are spread in many countries of the world. so PCI DSS and GDPR certificates that are used to make online payment gateways mare safe and secure. Let us through this article show them and payment gateway compliance.

Firstly, you should that payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. 

PCI-DSS Compliance

Short for The Payment Card Industry Data Security Standard, It is an information security standard for organizations that handle branded credit cards from the major card schemes. The PCI Standard is mandated by the card brands and administered by the Payment Card Industry Security Standards Council.

It holds your CPU and chipset and provides a common interface for other components of the computer. A PCI slot is just an extension of this purpose. PCI stands for Peripheral Component Interface (or interconnect, depending on who you talk to). This means that it allows you to insert expansion cards into your computer. It has the main goals:

  • Building and maintaining a secure network.
  • Protect Cardholder Data.
  • Maintain a Vulnerability Management Program.
  • Implement Strong Access Control Measures.
  • Maintain an Information Security Policy.

The following are the 4 levels of PCI compliance:

Level 1: Merchants processing over 6 million card transactions per year.
Level 2: Merchants processing 1 to 6 million transactions per year.
Level 3: Merchants handling 20,000 to 1 million transactions per year.
Level 4: Merchants handling fewer than 20,000 transactions per year.

According to the PCI Security Standards Council, PCI DSS is a set of universally accepted standards that help protect the safety of customer data. PCI DSS sets the operational and technical requirements for organizations accepting or processing payment transactions, as well as for software developers and manufacturers of the applications and devices used in those transactions.

Two myths persistently follow PCI Compliance:

  • First, it’s a headache to meet the requirements. In actuality, the requirements are beneficial and make good business sense.
  • The Second, that small business that handles just a couple credit card transactions a year don’ have to comply with PCI-DSS.

It’s important for customers to know your website is secure. They use their debit or credit cards to purchase products or services and risk financial losses. There is also an identity theft problem. The number of frauds in recent years has grown, so you have to make sure that sensitive data on your website is protected.

GDPR

Short for  The General Data Protection Regulation, It is a regulation in EU law on data protection and privacy for all individuals within the European Union and the European Economic Area. It also addresses the export of personal data outside the EU and EEA areas.

The GDPR allows for steep penalties of up to €20 million or 4 per cent of global annual turnover, whichever is higher, for non-compliance. According to a report from Ovum, 52 per cent of companies believes they will be fined for non-compliance. Management consulting firm Oliver Wyman predicts that the EU could collect as much as $6 billion in fines and penalties in the first year.

The GDPR places equal liability on data controllers of the organization that owns the data and data processors that outside organizations that help manage that data. A third-party processor not in compliance means your organization is not in compliance.

Types of privacy data do the GDPR protect:

  • Basic identity information such as name, address and ID numbers.
  • Web data such as location, IP address, cookie data and RFID tags.
  • Health and genetic data.
  • Biometric data.
  • Racial or ethnic data.
  • Political opinions.
  • Sexual orientation.

ADP’s global focus and scale in some ways have been an advantage. It already adheres to existing privacy and security regulations, so the leap to GDPR compliance is not as high as it might have been. Despite ADP being better prepared than many other companies, Georges says its GDPR project is large and global. It began about a year ago, but the project builds on earlier work. Because ADP is a data processor for other companies, ADP has taken the optional step of defining Binding Corporate Rules around protecting PII.

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