Payment Cards(Credit, Debit, Prepaid) and PCI DSS

Payment Card Industry Data Security Standard(PCI DSS) is intended for all entities that store, process, or transmit cardholder data (CHD) and/or sensitive authentication data (SAD) or could impact the security of the cardholder data and/or sensitive authentication data. Organizations that fail to maintain PCI DSS compliance face significant financial and operational consequences.

PCI DSS compliance is required for any organization that:

• Accepts payment cards (credit, debit, or prepaid)

• Stores, processes, or transmits cardholder data

• Could potentially impact the security of cardholder data

This includes merchants of all sizes, from large enterprises to small businesses, as well as service providers, payment processors, and other entities in the payment ecosystem.

The primary purpose of PCI DSS is to safeguard sensitive cardholder data, including credit card numbers, expiration dates, and security codes, while minimizing the risk of data breaches, fraud, and identity theft. The standard helps businesses adhere to industry best practices when processing, storing, and transmitting credit card data, fostering trust among customers and stakeholders.