Credit Card Processing Compliance
Concord Compliance has the experience and expertise to help organizations in the Credit Card Processing industry.
Compliance management for the Credit Card Processing industry
The credit card processing industry is subject to the Payment Card Industry Data Security Standard (PCI DSS). Enacted by the major credit card brands, this standard is designed to promote credit card transaction practices for merchants, financial services, and any business that collects, stores, and/or transmits credit card information. Failure to comply with PCI DSS can result in fines of up to $500,000 per incident for security breaches that expose credit card data.
Crucial requirements that apply to the Credit Card Processing industry
Maintain a Secure
Network
PCI standards require that merchants and businesses install and maintain a firewall and refrain from using default system passwords in order to protect cardholder data.
Protect Cardholder
Data
Entities that fall under the PCI DSS standards have the responsibility of protecting stored cardholder data and encrypting the transmission of cardholder data across unsecured networks.
Vulnerability
Management Program
To develop an adequate vulnerability management program, PCI DSS standards require restricted access to both digital and physical cardholder data and each network user must be assigned a unique ID for future identification.
Regularly Monitor
Network
Merchants and businesses are required to track and monitor all access to network resources/cardholder data and regularly test security systems and processes.
Maintain a Cybersecurity
Policy
To remain in compliance with PCI DSS standards, merchants and businesses must maintain a policy that addresses information security for employees and third parties.
How Concord Compliance helps You maintain PCI DSS compliance
Here at Concord Compliance, we understand that compliance with PCI DSS standards is vital to the success of your business, which is why our compliance management approach uses industry-leading professional services and expertise to automate, manage, and track all the necessary PCI DSS compliance requirements. Acting as your trusted compliance partner, our team works with your business through every step of PCI DSS compliance and beyond.
Comprehensive
Compliance
At Concord Compliance, we ensure that our clients maintain PCI DSS compliance in a complete, concise and straightforward manner. Our approach is designed to be thorough and complete allowing you to rest easy knowing that your business, your clients, and their credit card data are all well protected.
Cybersecurity
Training
Because cybersecurity and data protection are key components of the PCI DSS standards, our Concord Compliance program is guaranteed to provide the right amount of practical staff training and assurance activities in order to meet PCI regulatory requirements without creating undue burdens on your staff.
Practical
Programs
Finally, our compliance programs are tailored to your business to ensure that you meet and maintain PCI compliance. Here at Concord Compliance, we emphasize compliance initiatives that are straightforward, practical, and comprehensive as this allows our clients to prioritize day-to-day business operations while simultaneously maintaining PCI DSS compliance.