Payment Card Industry (PCI) compliance is a set of technical and operational regulations that credit card companies and merchants must follow in order to protect credit card data. Basically, every time you make a payment using a credit card, you’re trusting the retailer and card company to secure that credit card transaction. PCI standards are what ensure that every transaction stays safe.
Unlike compliances such as CMMC and HIPAA, which are mandated by the U.S. government, PCI is normally mandated by credit card companies themselves. In order for businesses to accept certain credit cards, they must agree to the PCI compliance standards set forth by the credit card companies.
Who does PCI Compliance apply to?
Every credit card company, merchant, and business that manages credit card information and processes credit card payments must be PCI compliant. If companies fail to comply with PCI, they could face large fines from credit card companies for agreement violations and negligence. PCI compliance not only protects individual users who are making credit card purchases, but also protects companies from theft, fraud, and data breaches—all extremely costly consequences of non-compliance.
Which companies need to be PCI compliant?
Credit Card Companies
Companies such as VISA, MasterCard, American Express, and Discover
Consultants, maintenance professionals, stylists, and other contractors who accept credit card payments
Retail Shops and Restaurants
Businesses that allow consumers to pay for their food, drinks, or merchandise with credit cards
Digitally native companies, apps, and online retailers that process credit card payments
Electric, gas, internet, and cable companies that permit one-time and auto-payments via credit cards
How does my business prepare for PCI Compliance?
The first step in complying with PCI is knowing how your organization currently stands with compliance. At Hyper Vigilance, we offer a readiness inspection and comprehensive audit assessment that gives you a complete picture of where you are and what you need to do next. During the inspection, we’ll walk through every procedure, practice, and article of PCI and compare it against your current operations to give you clear next steps towards compliance.
If your company needs to be PCI compliant, we’ll get you there. Our full-service compliance management services help prepare you for an official audit, ensuring you have the right procedures in place, the best software configured, vigilant security guards, and the proper documentation to prove it all. With our straightforward pricing model and our emphasis on making compliance accessible and easy to understand, you can trust Hyper Vigilance with your compliance management needs.
Get in touch with us to take charge of your business’ cybersecurity foundation.