{"id":59212,"date":"2024-05-21T17:21:55","date_gmt":"2024-05-21T16:21:55","guid":{"rendered":"https:\/\/softco.com\/?post_type=glossary&p=59212"},"modified":"2024-05-21T17:21:59","modified_gmt":"2024-05-21T16:21:59","slug":"pci-compliance","status":"publish","type":"glossary","link":"https:\/\/softco.com\/uk\/glossary\/pci-compliance\/","title":{"rendered":"PCI Compliance"},"content":{"rendered":"\n
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PCI Compliance<\/h1>\n<\/div><\/div>\n\n\n\n
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What is PCI Compliance?<\/h2>\n\n\n\n

Payment Card Industry (PCI) compliance refers to the adherence of an outlined set of procedures and policies set by the PCI Data Security Standard. These standards were developed for all organizations that process, store, and transmit information related to debit, credit, and cash card transactions.<\/strong><\/p>\n\n\n\n

Created by the world\u2019s largest card associations, American Express, MasterCard, and Visa, PCI DSS outlines comprehensive data security measures and rules to prevent data leaks and subsequent misuse of cardholder information.<\/p>\n\n\n\n

Since 2004, organizations involved in handling cardholder data have had to follow these standards to prevent data misuse and protect cardholder information.<\/p>\n\n\n\n

Over the years, the standard has evolved to keep up with evolving threats. PCI DSS v4.0 came into effect on March 31, 2024, and full enforcement will happen a year later. Compliance with updated standards is mandatory for all card brands. However, some parts of the standard may only be applicable to certain organizations as requirements vary depending on how your business processes card transactions.<\/p>\n\n\n\n

Is PCI Compliance Mandatory?<\/h2>\n\n\n\n

Credit card companies generally mandate PCI compliance. Legally, some US states (Minnesota, Washington, and Nevada) have incorporated PCI compliance into state laws, making PCI compliance mandatory for these states. However, compliance with PCI standards is not always mandatory by law.  Although compliance is legally optional in other states and jurisdictions, failure to comply with PCI standards could result in fines, penalties, and stricter regulation by card providers and acquiring banks.<\/p>\n\n\n\n

Importance of Maintaining PCI Compliant<\/h2>\n\n\n\n

Any organization involved in processing card transactions and providing payment services should comply with PCI standards. Compliance is necessary if you are:<\/p>\n\n\n\n