In current times, it is extremely important to ensure that our credit card transactions are completed securely, and this is why the Payment Card Industry Data Security Standards are crucial to protect both the consumers and the retailers from fraud and other illegal activities.
Any organisation which bears the logo of the PCI on its credit cards, it bound to uphold this standard with strict controls and checks. Larger organisations are assessed by an external assessor, called a Qualified Security Assessor. However smaller companies are allowed to carry out their own compliance checks, by completing a PCI complaince SAQ (self assessment questionnaire) .
The main areas which are protected by PCI compliance are: Network Security, which includes firewalls and passwords; Cardholder data security to ensure confidentiality; Vulnerability Management Programme for system security; Access Measure controls to protect the cardholder's data; Network testing to rigorously and regularly test procedures and access; and the strict adherence to an Information and Security Policy.
By having a set of common standards that all cardholders can adhere to and measure themselves against, the cardholders and retailers can be assured of a strict level of protection whichever card is used.
Although we ourselves are having to pass an increasing number of security checks when we use our credit cards, this can only be a good thing, as it is protecting our interests and our wallets.