In 2021, the value of digital payment transactions worldwide is expected to reach $6,685,102 million and by 2025 it is expected to reach $10,520,219 million. With so many online payments, businesses need to do everything possible to protect their customer details and payment card data. The Payment Card Industry Data Security Standard (PCI DSS) was developed to encourage businesses around the world to improve their security practices when handling, processing and storing cardholder data. As the global volume of digital payments increases, so does the risk of a serious data breach. While PCI DSS compliance helps your business avoid fines and lawsuits, more importantly, it helps you protect your customers' data. Note: CallRail does not provide legal advice, but we strive to assist our customers with all PCI compliant call tracking queries. The advice in this article does not replace the advice or services of a lawyer. If you have specific PCI DSS compliance questions for your business, we recommend that you contact the appropriate parties. What is PCI Compliance? PCI DSS (or PCI) is a set of guidelines for how companies can protect their customers' payment card information.
PCI compliance means that your business meets the Employee Email Database requirements set out in the PCI DSS standard. There are four levels of PCI compliance. Different brands of cardholders have their own requirements. If you accept payments from more than one card provider, you should check what level you stand with each of them. In the US, "Visa and Mastercard are the most frequently offered payment methods", so we've included their PCI compliance levels as a starting point: PCI Compliance Level 1: All merchants who process over 6 million transactions per year or that Visa/Mastercard identifies as meeting Level 1 requirements. Additionally, if your business has experienced a security breach that puts account or cardholder data at risk, you will move to Level 1. PCI compliance 2: All merchants who process between 1 million and 6 million transactions per year. PCI Compliance Level 3: Online merchants processing between 20,000 and 1 million transactions per year. Level 4 PCI Compliance: Online merchants processing less than 20,000 Visa/Mastercard transactions per year or other merchants processing less than 1 million Visa/Mastercard transactions per year. Does PCI DSS apply to my business?
The PCI DSS requirements state that "PCI DSS applies to all entities involved in the processing of payment cards, including merchants, processors, acquirers, issuers and service providers". So if your business accepts card payments — online or over the phone — then PCI DSS applies to you. “PCI DSS applies to all entities involved in payment card processing, including merchants, processors, acquirers, issuers and service providers. But businesses have different PCI requirements depending on how they handle payments, how many payments they handle or process, and what type of business they do. To understand the level of PCI compliance you need to meet your obligations, you should review the PCI Security Standards Council (PCI SSC) self-assessment questionnaires or seek expert advice. If your business accepts credit card payments, your customers need to trust that you will protect their information. Achieving PCI compliance shows your customers that you take their data security and privacy seriously, by doing everything possible to protect their payment details and other personal information. Your PCI Compliance Checklist There are 12 requirements businesses must meet to achieve PCI compliance. You can use this PCI DSS compliance checklist to understand the various requirements specified in the data security standard to help your business protect your customers' payment card data. PCI compliance checklist 1. Set up and maintain a firewall