Fintech
What is a PCI DSS certificate?
We wish you an inspiring day with the OctoStrategy team. It's time to provide you with useful information on how to take your business to the next level with modern payment solutions.
Buyers of goods and services make electronic payments almost every day. The popularity of this method is due to its convenience, because it is a great alternative to paper money.
Really, there is no need to use cash: take a wallet, change large denominations, count change, etc. Paying by card has a lot of advantages, but there are also a lot of cybersecurity risks.
Clients want to keep their money safe and be sure that it is protected. To do this, many payment systems, including Visa and MasterCard, have even made it a mandatory requirement for merchants and service providers.
PCI DSS certification is required for companies to meet established security requirements when dealing with online payments.
Not everyone understands how important it is to have such a certificate. The simplest example is regular stores with POS-terminals (special machines for accepting payments from bank cards) installed in their cash desks.
Some supermarket chain owners are still sure that the bank installing payment terminals is responsible for payment security. But in fact it is the merchant network that is responsible for the security of transactions and customer card data.
If intruders manage to steal personal data from a payment card of a client, the whole responsibility lies on the store where the transaction took place.
To minimize the risk of such incidents, trustworthy payment systems cooperate only with those banks, call centers, sellers of goods and services, and payment gateways that have received a PCI DSS certificate.