PCI DSS Compliance for Safe Credit Card Transactions
PCI DSS compliance is a mandatory qualification for business organizations that deal with credit card payments on any of these four levels as part of their business operations: accepting payments, processing payments, storing card holder information, and transmitting card credentials. PCI DSS, which stands for the Payment Card Industry Data Security Standard, is the primary regulatory standard devised to protect credit card users – who are now in hundreds of millions in number in the global market – from any adverse use of their information. The Payment Card Industry Security Standards Council (PCI SSC) devised this standard in 2006 to ensure credit card security by building it into the organizational structure of service providers in the industry.
Merchants Considered in PCI SSC Regulations
PCI DSS is a multi-tiered regulation and categorizes credit card merchants (businesses processing credit card payments, etc.) into four levels. It should also be understood that, while the term credit card payments is widely used in the circles, PCI DSS compliance also covers other types of cards, including prepaid and debit cards.
This division of merchants into varying levels is fundamentally done based on the volume of transactions the organization oversees and is described below:
- Level 1: This level covers all merchants who process more than 6 million Visa transactions during a year.
- Level 2: This level includes all business organizations that process between 1 million and 6 million Visa payment transactions.
- Level 3: This level is for merchants processing between 20,000 and 1 million Visa e-commerce transactions in a single year.
- Level 4: This level covers businesses that process less than 20,000 Visa e-commerce transactions in a year as well as merchants using all other acceptance channels to process less than 1 million Visa transactions for the same period.
Guiding New Businesses towards PCI DSS Compliance
As a leading business advisory firm focused on IT regulatory compliance (among other areas), Infratech can help your business in markets across the Middle East acquire PCI DSS compliance certification with ease. Our IT services compliance team will guide you through the whole process and stand by you while you file the application for your accreditation. At the same time, our advisors will provide your teams the knowledge to transform your practices in alignment with industry best practices that suit your applicable merchant level.
With us by your side, you will never have a need to get help from any other team regarding PCI SSC regulations.