This Business News Story Was Uncovered By Us From: http://www.youngupstarts.com/2019/07/27/what-startups-need-to-know-about-pci-compliance/
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60% of businesses that undergo data loss due to a breach never survive for more than six months after the event. While some will close shop due to their loss of customers, others find it hard to handle the costs of trying to survive the breach. Sadly, it can be even tougher for a startup to survive such disasters, especially if it hasn’t yet attracted a good market share.
Among the best ways to steer away from data breaches would be to comply with industry-wide regulations, and the PCI DSS tends to be among the most important ones. Compliance with it ensures that your business can handle the payment data of customers with care. The question is, what should you know about the regulation to be compliant?
Here is a brief introduction into all you need to know about PCI DSS compliance:
What Is PCI Compliance?
PCI DSS is a set of payment data security rules that were created by the top credit card brands to protect the interests of all stakeholders. It aims to not only protect businesses from the losses that can stem from a data breach, but also protect customers from having their data compromised. It also helps such credit card brands keep their businesses afloat by keeping cyber-criminals away from payment data.
Ideally, any business that stores, processes, or even distributes credit card payment data is required to be compliant with the regulation. This will also include your vendors as long as they have access to your payment data. The regulation comes with 281 requirement and 12 objectives that businesses need to achieve.
The Levels of PCI Compliance.
Merchants who are looking to be PCI compliant will belong to four PCI DSS levels of compliance. All levels come with their compliance requirements, and the lower levels are less stric… Read More
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