HOW DOES PCI COMPLIANCE WORK?
PCI DSS keeps itself updated with new norms to keep new threats at bay. Its guidelines are implemented in both, the administration and technological part of the merchant business. Hence, you will have to keep your website updated regularly and make sure the payment deals are in accordance with PCI compliance. This will prevent data theft and ensure the smooth running of your business. This is the major importance of PCI Compliance.
The companies or merchants are divided on the basis of a number of credit/debit card transactions, which they have to deal with periodically. On this basis, merchants are divided into 4 different levels. Level 1 is for the merchants who process the highest number of transactions every year. Whereas, Level 4 is for the merchants with the least number of credit/debit or bank transactions.
The eCommerce merchants who are accepting, processing, storing or transmitting credit card information have to be PCI compliant. This is for the safety and security of their customers and theirs’ too. Also, by becoming PCI compliant they undergo PCI audit procedures to meet the requirements of the latest PCI guidelines.
Now that you know the details of PCI Compliance let’s get to the Importance of PCI Compliance.
It Boosts Customer Confidence
In a survey, it was reported that two-thirds of the US adults would not return to a business if their personal data has been stolen through companies’ website. It infers that failing to meet security requirements discourages loyal customers from returning to you. Data breaches due to companies negligence spoil its reputation, which leads to the loss of productivity and a decrease in revenue. Being PCI Compliant shows your sincerity towards the clients and customers. This shows you are taking care of their security and ensuring the safety of payment data.
When your customers visit your site and they buy your products or services through credit/debit card, they have to be sure that they are not inviting some dire consequences because of you. You will have to make sure they feel safe. You will have to invest and make their financial data security your priority.
We provide various services for a merchant in need of expert guidance to manage his business more efficiently. Contact us now using our toll-free number+1 (888) 622 – 6875 or try 24/7 available email support - info@merchantstronghold.com
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