Accepting card payments can be a risky business, and fraudsters are always looking for ways to steal customer data. You may not know it, but it’s your responsibility to safeguard your customers’ financial information by becoming ‘PCI compliant’. If a data breach does happen, your customers can lose out and you could be fined up to £90 for every card that’s been compromised.
The Payment Card Industry Data Security Standard (PCI DSS) #
The Payment Card Industry Data Security Standard (PCI DSS) is the global standard for handling card data. All businesses accepting card payments are required to follow these standards to become officially ‘PCI compliant’.
Why is PCI compliance important? #
When you accept card payments, you and your customer are sharing sensitive financial information. By becoming PCI compliant, you can demonstrate that you’re handling and managing customer data securely. This means that in the event of a card security breach, you’ll prove you’re doing everything you can to prevent fraudulent use of information and ultimately reduce your risk of being fined.