If you are running an enterprise in which you use a PCI PIN Entry Device, you have to ensure that the device is PCI PTS compliant. There are a number of compliance programs that can work on the PCI PIN Entry Device to help you keep up with Payment Card Industry Data Security Standard (PCI DSS). The standards set with regard to PCI compliance are however the same throughout, and they apply to all establishments which use card systems in processing of cardholder accounts as well as data transmission and storage.
PCI DSS enables businesses which work with credit card payments to obtain the technical assistance they need in order to maximize on data security. With respect to this, software developers have played a huge role towards ensuring that PCI DSS software and the existing payment solutions are integrated efficiently. Even though there are some organizations that continue to carry out credit card transactions without being compliant with PCI, when detected, the card payments can be disallowed and in some instances, the particular companies may have to deal with hefty fines in addition to a financial audit.
Why PCI Compliance is important?
PCI requirements are put in place to ensure that the best practices are followed with regard to storage of electronic records, and both small and large businesses have to comply with PCI and authenticate their compliance each year. Through PCI PIN Entry Device and PIN change terminals, card holder information can be safely controlled or destructed when need be to ensure that the information within is protected.
When a business is compliant, customers can feel secure in dealing with the company, and they can also become more confident in the services they receive. This will subsequently impact the bottom line of the enterprise. The system is basically all about protecting the integrity of the data on the credit cards and using a PCI PIN Entry device is just the first step toward achieving this.
All business including gateway providers and processors who deal with storage or transmission of cardholder information have to be compliant with PCI .Such compliance is not only important to merchants, but it is also essential for acquiring banks, merchant service providers and card holders. To know if the software you are using in your business is PCI compliant, you have to check beforehand to ensure that it is on the list of the validated payment applications.