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What do I need to do to be PCI compliant?
How to Become PCI Compliant: The 12 Requirements of PCI security standards
- Maintain a firewall—protects cardholder data inside the corporate network.
- Passwords need to be unique—change passwords periodically, do not use defaults.
- Protect stored data—implement physical and virtual measures to avoid data breaches.
Is PCI compliance a legal requirement?
PCI DSS is a security standard, not a law. Compliance with it is mandated by the contracts that merchants sign with the card brands (Visa, MasterCard, etc.) and with the banks that actually handle their payment processing.
Do small businesses have to be PCI compliant?
PCI compliance is required for organizations of all sizes, including small businesses. A small business needs to be PCI compliant if it plans to collect, transmit, or store PCI data (A.K.A. credit card and cardholder data) – no exceptions.
When do I need to be PCI compliant?
To reach PCI DSS compliance, you must meet each of the requirement’s objectives that apply to your scope of compliance, which I will cover later in this post. PCI DSS is an annual reporting process. Even though you only have to report on your compliance annually, you’re expected to stay compliant throughout the year.
What happens if you sell online without being PCI compliant?
Strictly speaking, if you’re into selling online without being PCI compliant, you need to prepare not only for the potential security risks, but also for penalties, such as monthly fines that could even reach $100,000. The fine amount depends on a company’s transaction volume, the number of PCI DSS requirements violated, etc.
Why is it important for small business to comply with PCI?
These standards are designed to protect merchants and their customers from breaches that could negatively affect their business, finances, and reputation. Meeting PCI compliance requirements is a critical part of running a successful business, though often overlooked by small to medium sized businesses.
Where can I get the correct PCI form?
You can obtain the correct form from the PCI website here. Most low-volume merchants (also called “Level 4” merchants), will use the short Self Assessment Questionnaire A (also known as, “SAQ-A”). You are SAQ-A qualified if your business processes transactions by phone, mail, or via the web.