Banks and financial service providers are constantly facing challenges to safeguard customer data including Credit / Debit card details and other personal information. Payment Cardholder Information Data Security Standard (PCI-DSS) is promoted by Visa, MasterCard, AMEX and others to establish a consistent and secure process across all entities who handle cardholder data.
All merchant banks and businesses that are accepting, processing, storing and transmitting customer card data are required to comply with the PCI-DSS standard. Different compliance deadlines are mandated by the credit card companies depending on the merchant & service provider’s level and region of operations.
Most of the PCI-DSS standard requirements are highly technical in nature. The quickest solution proposed by auditors/consultants to meet the PCI-DSS requirements is procurement of new infrastructure, tools, and products. However, procurement and installation of new products & tools is an expensive option, and, in most cases, the PCI-DSS compliance projects take several years to complete. In reality, the PCI-DSS standard offers flexibility to implement compensating controls that would meet the standard requirements and would be efficient, economical and easy to implement.
We at Netfence Technologies help organisations in conducting the Scope/GAP Assessments and implementing the controls required as per the PCI DSS Regulation.