Whenever any new standard is introduced, there is often much confusion. This is especially so in the financial sector, and when the PCI DSS standards were introduced, they were certainly no exception.
So what is PCI DSS? Put simply, it is a set of standards arrived at by the credit card companies in order to ensure payment security online. This was done in order to shore up some gaps in security which a growth in cyber crime was revealing.
The standards apply to any company or website which accepts payments online, and adherence to them is essential. It gives both the consumer and the websites peace of mind and coverage in the event of something untoward happening.
The standards can at first seem rather complicated, with a series of questionnaires to be filled out depending on the amount of trade that is carried out through a website. These questionnaires may or then may not lead on to an inspection of procedures and servers to ensure that information is kept secure.
Whilst given some time, an owner or financial director can work their way through the paperwork and interpret it; there are specialist companies who deal specifically with PCI DSS adherence and compliance. This may be the best option to take, as it frees up man hours to concentrate on the main purpose of the business or website, which is to make money.