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In the world of digital transactions, businesses handling payment cards must demonstrate their data security measures through the Payment Card Industry Self-Assessment Questionnaire (PCI SAQ). Completing the SAQ is a key step in the PCIDSS assessment process, followed by an Attestation of Compliance (AoC) to confirm accuracy.
Today, the framework introduced in the early 2000s outlines 12 PCI requirements that merchants must satisfy to process credit card transactions on the card networks. Failure to meet these standards could result in fines or bans as a merchant or service, rendering you unable to process payments or send payment data with the major networks.
But cloud migrations are often complex, particularly when it comes to remaining compliant with the mounting regulatory initiatives designed to address growing security risks in the financial services arena. Other regulations adding weight to financial serviceproviders’ compliance burden include Europe’s PSD2 and the U.K.’s
If your business does not fall into the categories listed above, be sure to check the PCIDSS website for the full list of SAQ types. If youre still unsure which one applies to your business, be sure to check with your credit card processor or review the PCI websites longer explanation of SAQ types.
The requirements also mandate that organizations include these enhanced standards in their contracts with third-partyserviceproviders. The NYDFS requires data encryption not just for data in-transit but also for data at-rest. Annual certification.
This article will explore five reasons why using PDF forms for payment collection doesn’t meet PCIDSS requirements, highlighting the risks and security gaps inherent in this method. What is PCI compliance? Can outsourcing help with PCI compliance? Can outsourcing help with PCI compliance?
Payment Gateway A service that enables merchants to accept electronic payments from customers through a website or mobile application. Payment Processor A third-partyserviceprovider that facilitates electronic payments and transfers funds between the merchant’s bank account and the card issuer.
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