PCI DSS
A short for Payment Card Industry Data Security Standard .It is a mandatory set of rules and regulations created to reduce Credit Card fraud.
How Does the Payment Card Industry Data Security Standard (PCI) Work?
The
Payment Card Industry Data Security Standard is maintained by the
Payment Card industry Security Standards Council, a group created in
2004 after MasterCard, Visa, Discover, JCB, and American Express
collaborated to create a universal platform to prevent fraud for
whenever Credit Card information is being transmitted.
PCI
Compliance currently has six objectives: to build and maintain a secure
network, to protect cardholder data, to maintain a vulnerability
management program, implement strong access control measures, regularly
monitor and test networks, and to maintain an information security
policy. These objectives are maintained through a set of strict
regulations Merchants and Payment Service Providers must follow to
collect and transfer Credit Card information.