PCI compliance, or Payment Card Industry Data Security Standard (PCI DSS) compliance, is a set of security standards and guidelines established to protect sensitive payment card data and ensure the security of transactions within the payment card industry. These standards are essential for any organisation that handles credit card information, including merchants, payment processors, and service providers.

PCI compliance requires organisations to implement various security measures, such as encryption, access controls, network segmentation, and regular security assessments, to safeguard cardholder data. Compliance is typically categorised into four levels, depending on the volume of transactions processed, and organisations must adhere to the corresponding requirements.

Failure to achieve and maintain PCI compliance can result in financial penalties, reputational damage, and increased risk of data breaches. Compliance efforts help maintain the trust of customers and partners by reducing the likelihood of credit card fraud and protecting sensitive financial information.

The risks are real, and the fines are not friendly. With our Banking and Payment Solution Providers we can introduce you to a new standard of PCI DSS, and externalising its scope by utilising compliance / tokenization platforms.