What Is Payment Card Industry Data Security Standard?
The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards and requirements established by the Payment Card Industry Security Standards Council (PCI SSC) to protect payment card data and secure payment transactions against fraud, data breaches, and unauthorized access in e-commerce and payment processing environments.
How is the Payment Card Industry Data Security Standard helpful?
PCI DSS compliance involves various measures and best practices, such as network segmentation, vulnerability scanning, and security awareness training, to ensure the confidentiality, integrity, and availability of payment card data throughout its lifecycle. By achieving PCI DSS compliance, organizations can demonstrate their commitment to data security and regulatory compliance, protect their customers’ sensitive information from data breaches and cyberattacks, and mitigate financial and reputational risks associated with non-compliance and security incidents.
Payment Card Industry Data Security Standard In Academia
In academia, PCI DSS compliance is studied within the fields of cybersecurity, risk management, and regulatory compliance. Researchers investigate PCI DSS requirements, including data encryption, access controls, and security monitoring, to understand their role in safeguarding sensitive cardholder information and maintaining trust and confidence in the integrity and security of electronic payment systems. Academic studies on PCI DSS compliance also explore its implementation challenges, such as scope reduction, compliance fatigue, and evolving threat landscape, as well as industry-specific considerations and emerging technologies, such as tokenization, end-to-end encryption, and cloud security, to address compliance gaps and enhance the resilience and effectiveness of payment security measures in a rapidly evolving digital payments ecosystem.
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Frequently Asked Questions Payment Card Industry Data Security Standard
Which security standard relates to payment cardholder information?
PCI DSS is the global data security standard adopted by payment card brands for all entities that process, store, or transmit cardholder data or sensitive authentication data. It consists of steps that mirror security best practices.
Who is responsible for PCI compliance?
PCI DSS and related security standards are administered by the PCI Security Standards Council, which was founded by American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc.
Who performs PCI audits?
Due to the sensitive nature of cardholder data, only Qualified Security Assessors (QSA) approved by the PCI Security Standards Council can conduct PCI audits.