PCI stands for Payment Card Industry. PCI Compliance is a set of standards and guidelines that ensure the secure handling of credit card information by merchants and other organizations that process credit card transactions. It is required to protect sensitive cardholder data from theft and fraud.
The Payment Card Industry Data Security Standards (PCI DSS) outline specific requirements for collecting, processing, and storing credit card information. These standards are designed to protect against data breaches, which can result in the theft of credit card numbers, expiration dates, and other sensitive information.
It is required for any organization that handles credit card data, including merchants, service providers, and financial institutions. This includes businesses of all sizes, from small mom-and-pop shops to large corporations. These organizations must comply with the Payment Card Industry Data Security Standard (PCI DSS) to accept credit card payments.
It helps ensure that businesses take the necessary steps to protect their customer's sensitive information and reduce the risk of data breaches.
Overall, PCI Compliance is necessary to protect customers and merchants from the risks associated with credit card fraud and data breaches.
