If you operate, own or hold a management role in an Australian business that stores, transmits and processes customer payment data, you may have recently been contacted by your bank regarding your PCI compliance status.
Like many other Australian entities, this may be the first time you've heard about the PCI standards — and you're probably looking for answers to some critical questions. Does this apply to me? How will my organisation benefit from this? What are our business responsibilities? Is there anyone that provides PCI compliance services in Australia?
Payment Card Industry (PCI) Data Security Standards (DSS) are a set of security standard that outline Australian business requirements for security management of card data — including procedures, policies, networks, software design, architecture, and other security protective measures.
This comprehensive set of standards is structured to help Australian organisations like yours protect customers’ card data and information. PCI compliance is now mandatory for all organisations that store, process or transmit cardholder information.
PCI accreditation helps with approval from Visa, MasterCard and other major payment brands. To ensure that you continue to be able to accept credit and debit card payments, you may seek the assistance and advice of an accredited provider of PCI compliance services in Australia.
Previously, large organisations processing more than 6 million credit card transactions annually were the only ones required to be compliant. However, it is now mandatory for all merchants, large and small, to become PCI compliant. With this shift making PCI compliance a requirement for all organisations, businesses are advised to begin working toward compliance early on.
Becoming PCI compliant and remaining compliant requires an ongoing commitment to implementing up to the minute procedures and policies for data security. Staff training, technology upgrades and the allocation of resources for both these things will be necessary for many small to medium businesses.
The following tasks are some of the essential things that need to be taken care of to achieve PCI compliance:
- Building and maintaining a secure network
- Protecting cardholder data
- Maintaining a vulnerability management program
- Implementing strong access control measures
- Regularly monitoring and testing networks
- Maintaining an information security policy
If the process of establishing compliance seems overwhelming, then you may find it best to get assistance from an organisation with expertise providing PCI compliance services in Australia.
A PCI compliance firm will manage the implementation of a comprehensive PCI compliance program. This will help reduce and stress associated with meeting the PCI compliance requirements in preparation for PCI auditing. By placing things in the hands of a professional, you'll be confident that the process you establish and the resources you allocate to improving PCI security will be the most suitable for ensuring you are PCI compliant when audited.
In order to operate your business, whether small or large, PCI compliance will be mandatory. If you're unsure how to meet the requirements for PCI compliance, then seeking support from a registered provider of PCI compliance services in Australia is a must. This will ensure that your business has covered all the essentials to pass a PCI compliance audit. It will also mean that you're able to fully protect customer data and card information, helping to reinforce customer confidence and trust.
Recommended reading:
PCI compliance checklist
PCI compliance requirements for Aussie businesses
Understanding PCI compliance auditing