PCI DSS Compliance Services, the Requirement and Challenges Faced
Who needs to comply?
All the banks, merchants, and the service providers that process card data, store credit or debit card data and transmit information need to get themselves certified under PCI-DSS. This ensures the customers that all the information and payment details are secured, and they do not run into the risk of having their privacy at stake.
Challenges faced in while complying with PCI DSS
Companies face great scrutiny and enquiry while they are complying with PCI DSS compliance services and norms. Penalties and investigations are charged against those organisations that do not comply with the PCI DSS.
Compliance Levels
All companies that are involved in credit card transactions must be PCI DSS compliant.
There are four levels of PCI-DSS compliance services, and this is basis the amount of revenue generated by the company per year.
The levels are as follows:
The companies having more than six million transactions happening annually fall under Level 1.
The companies having between one to six million transactions happening annually fall under Level 2.
The companies having between twenty thousand to one million transactions happening annually fall under Level 3.
The companies having less than twenty thousand transactions happening annually fall under Level 4.
The Steps involved in PCI DSS Compliance Services:
The first phase involved in the services provided in PCI DSS compliance is assessing the assets and the various processes for payment. The processes involve analysing card transactions and analysis of the loopholes and vulnerable exploitation points in the system that run into the risk of hacking and loss of customer data.
The next phase involves remediation, this is the process of fixing and managing the vulnerabilities that have the potential of exposing confidential data and cardholder information.
The last step is reporting the records accumulated that will be required by the PCI DSS to authenticate the remediation and submission of the accounts to the concerned banks and brands.