PCI Compliance for B2B and E-Commerce Payments
How Can Merchant Direct help E-commerce and B2B Companies Stay Compliant and Protected Against Breaches?
Merchant Direct implements a powerful, multi-level data security plan that includes point-to-point and standard data encryption, proactive analysis of data processing in real-time, software patching and data tokenization that is highly recommended by IT experts. Although tokenization by itself is not a foolproof method of stopping a breach, it can significantly minimize the impact of a data breach.
We provide continuous monitoring of your data security program and establishing an immediate response plan to potential breaches which is also essential for maintaining PCI compliance. Some businesses would benefit from hiring a PCI-certified provider to manage security of cardholder data and payment transactions.
Although it is possible for B2B and e-commerce business owners to operate while being non-compliant with PCI standards, the consequences of neglecting to meet basic standards could be devastating to the long-term viability of your company. In today’s increasingly cashless society, any business, whether online or brick-and-mortar cannot expect to continue without the ability to securely accept credit and debit cards.
Learn more about PCI-compliant B2B and E-commerce payment services by contacting us today.
What's the Big Deal About Compliance with the Payment Card Industry Data Security Standard?
If you operate an online or B2B business, you bet PCI compliance is a big deal. PCI DSS (or just PCI) is a rigorous security standard established by the PCI Security Standards Council to continuously improve the ability of businesses to protect consumer cardholder information.
E-commerce and B2B businesses that accept credit or debit cards are expected to prove PCI compliance by completing a questionnaire or by hiring a professional security assessor. However, compliance requirements deviate from standards depending on what kind of payment methods a business accepts.
When a business collects, transmits or stores customer cardholder information on a server, that business is subject to heeding compliance regulations set by the PCI SSC. Determining compliance level involves B2B and e-commerce companies to evaluate the volume of card transactions in one year. The fewer transactions processed in 12 months, the fewer compliance restrictions the business will have.
What are the Basic PCI Compliance Requirements for B2B and E-commerce Businesses?
Any size business must do the following or risk the consequences of noncompliance with the PCI DSS Standard:
- Use only continuously updated anti-virus software
- Ensure cardholder information and other sensitive data is encrypted when sent over a public network
- Protect data with firewalls
- Never use default system passwords supplied by a vendor
- Give unique identification numbers/codes to each individual with access to company servers
- Test security systems frequently
- Prevent anyone from gaining physical access to customer payment information
- Monitor access to customer data and network resources
What Happens When an E-commerce or B2B Business is Non-compliant with PCI?
In most cases, noncompliance is uncovered when hackers steal credit card information from a business. Breaches account for the majority of merchant account revocations when the breach is found to have occurred due to noncompliance. In addition, businesses found negligent of protecting cardholder data properly could be heavily fined and endure increased and costly compliance demands from the PCI Council.