The Payment Card Industry Data Security Standard (PCI DSS) was designed to provide a baseline of operational and technical requirements for companies accepting or processing payment transactions. PCI compliance is the adherence to this set of 12 requirements and mandated for any company that stores, processes and/or transmits cardholder data. Companies that fail to comply with PCI DSS can incur severe financial penalties, risk data breaches, risk reputational damage, and in the worst-case scenario, lose their right to accept payments from major card schemes.
How Organizations Can Achieve PCI Compliance
The 12 PCI DSS standards are as follows:
Install and maintain a firewall configuration
Do not use vendor-supplied defaults for passwords and other security features
Protect stored cardholder data
Protect data in transit by encrypting transmissions across open, public networks
Protect against malicious software and viruses
Develop and maintain secure systems
Restrict access to cardholder data
Authenticate access by giving each person a unique ID
Control physical access to cardholder data
Track and monitor access to cardholder data and network resources
Test security systems and processes
Maintain a security management policy for employees and contractors
With DSSv4.0 introducing additional controls on top of these standards, achieving and maintaining compliance can seem like a daunting task. ACI’s PCI compliance software suite helps make securing cardholder data simple and prevents potential financial penalties for failure to comply.
Introducing ACI’s PCI Compliance Solutions
ACI Speedpay
Powerful suite of digital billing, payment, disbursement, and communication services that lowers the cost of presenting and accepting bill payments while delivering industry-leading security
ACI provides P2PE and PCI-certified validated point-to-point encryption (V2PE) capabilities that prevent payment data from being exposed, even when the data is intercepted, or your system has been compromised.
Securely encrypt payment card data at the point of interaction
Safeguard card data throughout the transaction process
Reduce the scope of PCI compliance
Reduce the risk of usable cardholder data being stolen during transmission
Protect against the reputational damage of a breach
Omni-tokens
Conceal cardholders’ personal information, payment details and more by leveraging tokenization technology. This enables a frictionless customer experience, giving both you and them peace of mind.
Use omni-tokens across online, mobile, in-store and MOTO payments
Offer secure “buy online, pick up in-store” and subscription services
Simplify and speed up the returns process
Power the seamless omnichannel experience your customers demand
Combine with P2PE capabilities to enhance data security and PCI compliance
Bill payments engine API
ACI’s proven APIs enable billers to outsource bill payment processing, accept payments, manage user enrollment, send reimbursements and search for data — all while retaining complete control over the customer experience.
Provide pre-configured integrations including mobile app, text message, website, interactive voice response and call center
Enable flexible payment options with payment scheduling and configurable cut-off dates
Maintain control with date restrictions, cancellations, modifications and future-dated payments
Provide a stronger, repeatable consumer touchpoint
Implement tokenization, removing that data from PCI compliance considerations
Frequently asked questions
What is PCI DSS?
The Payment Card Industry Data Security Standard (PCI DSS) is a set of standards designed to establish operational and technical requirements for companies accepting or processing payment transactions in the interest of enhancing payments security.
How can organizations ensure PCI compliance?
To establish and maintain PCI compliance, organizations that accept credit card bill payments must meet 12 operational and technical requirements set out by the Payment Card Industry Security Standards Council. These organizations can meet these requirements and support PCI compliance by outsourcing their payments processing to an industry expert with a long track record of maintaining compliance, such as ACI Worldwide.
What are the benefits of achieving PCI compliance?
PCI-compliant organizations experience reduced risk of data breach and greater operational efficiency; they are better able to protect their customers and adapt to changing data security standards and regulations and enjoy stronger reputational standing and longer-term customer loyalty.
What are the risks associated with PCI non-compliance?
Failure to comply with PCI DSS can result in fines to the acquiring bank, which are usually passed on to the billing organization or merchant. For repeated violations, the card brands may revoke the biller or merchant’s ability to accept cards entirely. Any breach of consumer payment card data could result in a negative impact to your brand reputation, lost customers and financial consequences.
INDUSTRY INSIGHTS
Secure bill payments solidify consumer trust
Discover essential actions and uncover expert insights to deliver world-class security in the ACI Speedpay Pulse 2021 Trend Report.
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