About PCI DSS Compliance for Small Businesses

Many companies new to online selling make the mistake of believing that once they have a merchant account they are free to receive online payments without worry. This notion has been disproved time and time again as hackers have stolen valuable credit card information from supposedly secure sites. That is why many small businesses have decided to become PCI DSS compliant.

If you have never heard of it, PCI DSS compliance is a security standard that can help companies process and store credit card information. Though the service is not required, if your business is not compliant and there is a security breach that results in stolen credit card information, you will be held financially responsible. Additionally, PCI related fines can be as much as 300 thousand pounds. In extreme cases, a business may be forbidden from ever accepting online credit card payments again.

Since larger companies can afford the best in internet security protection, most thieves only target small businesses. When there is a security breach from a non compliant site, loss of clients as well as subsequent fines are often enough to ruin a business. That is why PCI DSS compliance for small businesses is essential.

How does it work? Without getting too technical, compliance gives websites the ability to encrypt all stored credit card data including CVV2, CVC2, and CID security codes. And while it is still possible to breach a site when it is protected by PCI, the credit card companies will not hold your business financially responsible for any charges.

For small businesses, becoming compliant is fast, affordable and often quite profitable, since you can advertise your website as PCI protected. It will also give you peace of mind and free you from the worry of excessive penalties and fines.

Home