Blog

01Apr, 2017

PCI DSS/ Security Compliance

Achieve and maintain security (PCI DSS) compliance in the most cost effective manner

Firstly, its important to note that any organisation that stores, processes or transmits credit card data must be compliant with the Payment Card Industry Data Security Standards (PCI DSS), as such the security standards are mandatory for card handling organisations in Australia.

Businesses dealing with cardholders data need to be aware of their obligations regarding PCI DSS compliance. However, that doesn’t necessarily mean they know the best ways of achieving and maintaining PCI DSS compliance, and how to do so in the most efficient manner.

Bottom line

A business could initially hesitate over the cost involved in achieving and maintaining compliance. but what’s seldom understood is that Its more cost effective to keep on top of PCI DSS compliance than letting it slip. In addition to which many companies in Australia underestimate the financial exposure associated with non-compliance.

Business partnership

A great way to do that is to have the right business partnership we provide a range of products and services such as Level 1 PCI DSS certified cloud based services, credit card scanning & storage, tokenization and payment services, and contact centre solutions to name a few.

Piratical steps

You’ll probably be aware that there are numerous controls and stages involved, Including determining which merchant level you are followed by an answering a self-assessment questionnaire (SAD) or the engagement of a qualified security assessor (QSA) If you businesses is classified as a Level 1 merchant.

Here’s a brief overview of what you reed to do to achieve and maintain PCI DSS compliance in the most efficient manner. They are three stages:

The first is assess- identifying cardholders data, taking an Inventory of your IT assets and business processes for payment card processing, and analyzing them for vulnerabilities that could expose cardholders data. Any historical credit card data which is no longer required should be eliminated to reduce the company’s financial exposure should a data breach occur.

The second is re-mediate – fixing vulnerabilities and not storing or processing cardholders data unless you absolutely need it

The third is report-compiling required remediation validation records and submitting compliance reports to interested parties, such as your financial institution.
IPSI has helped many of Australia’s largest credit card processors to secure their credit card data and become compliant. We provide review, analysis and design consultancy services to fully managed remediation solutions.

 

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