Over the last few years, 'data breach' has been one of the most fearful phrases in the payment industry. We have seen the effect of data breaches time and again over the years, and how it can bring a company down to its knees. In fact, Target's 2013 data breach is still whispered with fear thanks to contact details of over 70 million customers being hacked. As it was back then and now, the simple question remains – why did it happen and what can be done to ensure it does not happen again?
In the simplest sense, the lack of security or compliance of required security says it all. Over time, experts too have pointed out that a stringent compliance has to be in place when it comes to data security. The answer is PCI DSS. These security standards helps facilitate consistent and remarkable security.
How does PCI DSS compliance help?
Quite simply, having a compliance like payment card industry data security standard will ensure that you have improved controls to reduce payment method frauds. The compliance levels stems right from the storage and the encryption of the credit cardholder, irrespective of the transaction size. How does this help? Well, it protects your company from a breach of data. A PCI DSS Compliance India would help your company rise up to the next level because -
A confident customer is a customer forever : Giving your customer the confidence that their data is completely safe on your platform is going to be the foundation for years to come. It is essential to keep your business running and to keep the transactional model flowing.
Keeping your data secure : Information of your company employees, clients and business payment methods, is undoubtedly the most important asset to any organisation. The risk of malpractice can be devastating – so can unauthorised access or hacking. When you have a PCI DSS consultant in your team, you can protect this data from any form of access. Not only does that become the strength of your business, but it also protects the value of transaction.
Keeping ahead of the game : Having a standard of this kind implemented in your business keeps you way ahead of the possible threats ahead. It is not only the payment methods or data that you are keeping safe, but you are looking ahead of further possible threats that may be in the way for your business. It gives you that additional push to focus on everything else your business needs to thrive on and will be the driving force to your higher growth. Plus, such a compliance is tailor made for your business as it cannot be implemented with one business model in mind – the specific rules that apply to your industry and business model are unique; a massive advantage in today's game.