PCI DSS (Payment Card Industry Data Security Standard) is a globally recognized standard that ensures security when storing and processing personal information from customers’ bank cards.
The security standard is used to protect credit and debit card transactions from data theft and fraud.
PCI DSS Certification
PCI DSS covers financial organizations that process and store information about customers’ payment cards. To obtain the status of a certified organization, you must pass a QSA audit or fill out the SAQ self-assessment sheet yourself.
Certification takes place in 12 groups, each of which includes different items. There are 288 requirements in total. To obtain PCI DSS status, you must complete all the points specified in the requirements.
Certification is considered the best way to protect confidential data and information, thereby helping companies build long-term and trusting relationships with their customers. Violation of PCI DSS requirements can lead to various negative consequences for a financial institution. These include fines from payment card issuers, litigation, and reputational risks.