PCI Compliance- What You Must Know To Protect Your Business and Your Customers

July 25, 2018

 

 The world of tomorrow is finally here! Our customers can shop at their convenience. The rise of online businesses in the late 90’s and early 2000’s many stores started to make credit card transactions online. Customers were ecstatic with a new platform they wouldn’t have to leave their home to order a product. However online businesses were vulnerable to cyber criminals that started to exploit customer information and profit from breached accounts.

Due to the increase of credit card schemes Visa, Master Card, American Express, Discover and JCB joined forces to create the a council called the Payment Card Industry Security Standards Council.

In 2006 the Payment Card Industry Security Standards Council created rules that businesses should and must abide by to increase the safety & security of card holder information. These rules are known as PCI DSS (The Payment Card Industry Data Security Standard).  

 

WHY SHOULD MY BUSINESS BE PCI COMPLIANT?

 

If you have an e-commerce business that accepts payments from Visa, MasterCard, American Express or Discover Credit Cards it is imperative that your software and where you are hosting is PCI compliant. PCI Compliance implies that your business cannot store any of the following data:

 

  1. Unencrypted credit card number

  2. CVV or CVV2

  3. Pin blocks

  4. PIN numbers

  5. Track 1 or 2 data (The magnetic Stripes on Credit Cards)

If any of the aforementioned is found in databases, backups etc. this may impose heavy fines on the business owner.

 

DO I HAVE TO BE PCI COMPLIANT IF I AM A SMALL BUSINESS?

 

Every business whether big or small should be PCI Compliant. However a small business has more to lose if it is not PCI compliant. If stored customer data is compromised and the small business is not PCI compliant there are fines imposed and compensation requirements that could costs between $50.00 and $90.00 to replace one card. The risk of not being PCI compliant is too high.

WHO IS MORE AT RISK?

Point of Sale devices store track data. As mentioned prior it is imperative that your business does not store Track data. Because this POS are more at risk than e-commerce solutions

 

WHAT IS THE BEST E-COMMERCE SOLUTION?

 

Shopify is rated certified Level 1 PCI DSS compliant. This means they make over 6 million transactions per year. Shopify states that they allocate significant time and funds to certify their solution is PCI compliant. All online stores powered by Shopify are also PCI compliant which is a major benefit for businesses operating on the Shopify platform.When your business operates under Shopify's platform your store will meet all 6 categories of PCI standards:

  1. Maintain a Secure Network

  2. Maintain a Vulnerability Management Program

  3. Regularly Monitor and Test Networks

  4. Protect Cardholder Data

  5. Implement Strong Access Control Measures

  6. Maintain information Security Policy

C2 Development has partnered with Shopify to ensure that businesses that perform credit card transactions have one less headache to worry about. When your business is not PCI Compliant it can be costly and destructive to your business. 

 

GET READY TO BUILD:
Through our Shopify Refresh program we're offering clients the free design and assemblage of a Shopify “template” website after a billable discovery meeting and strategy planning session. To Learn More Visit Our Shopify Refresh Page: https://www.c2devgroup.com/shopify-refresh-promotion

 

Contact us today to learn more about our services and how we can help your next great idea become successful!

 

Josh Cassell is a project manager and account executive with C2 Development Group. 

EMail: sales@c2devgroup.com // Facebook: facebook.com/c2devgroup
Phone: 856-221-2164

 

 

 

 

 

 

 

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Phone: 856-221-2164