Is My Business PCI Compliant?

Is my business PCI compliant? This is a question that all businesses should ask themselves. PCI DSS (Payment Card Industry Data Security Standard) compliance should be a main priority for all companies, irrespective of their size or industry. These are a set of requirements that all merchants are required to follow in regards to the way in which they process, store and transmit credit card data within a secure environment. If you are wondering whether your business has managed to achieve PCI compliance, read on for the answers you are seeking.

Questions To Ask Yourself To Determine If You’ve Achieved PCI Compliance

No matter how big or small your business is, what industry you operate in or how many transactions you process, you need to be PCI DSS compliant. This is especially important when you consider the fact that 60 per cent of small businesses that suffer data breaches are out of business six months later. Could you afford a non-compliance fine on top of fraud losses? PCI compliance is all about ensuring your business is secure and protected. There are many requirements that are put in place, which can often cause a little bit of confusion for companies, as they don’t truly know if they are complying with the law. Ask yourself the following questions…

  • Have you developed and maintained an information security policy?
  • Do you regularly monitor and test your networks?
  • Do you implement strong access control measures?
  • Do you maintain a vulnerability management program?
  • Are you confident that you protect cardholder data?
  • Do you maintain a secure network?
  • Have you segregated your card payments?
If you cannot answer ‘yes’ confidently to all of these questions, then your business could be at risk of breaching the regulations that are put in place by the PCI DSS. This is a risk that no company can afford to take.

Take A PCI Compliance For Retailers Quiz

Aside from asking yourself the questions that have been mentioned above, there are other ways you can determine whether your business is PCI compliant. One of the more obvious options would be to look at the PCI DSS requirements in their entirety. Go through them, and check that your business adheres to each and every one. This can be a time consuming process and a confusing one for those who do not have much experience in network security. Instead, you could take a PCI compliance quiz. There are quizzes that are available to help ascertain PCI compliance for retailers. You will be asked a series of questions. Answer them honestly, and at the end of the quiz you will find out whether you are compliant or not. The best quizzes will tell you where you have gone wrong and what needs to be done to fix it. After all, there is no point taking the quiz and finding out you are not compliant if you are unable to discover what questions your business failed on.

Align With A Top Quality Cyber Security Company

If you are still wondering is my business PCI compliant, you should consider getting in touch with a leading cyber security company. They will know exactly what to look for to determine whether your business has achieved PCI compliance or not. It will give you peace of mind knowing that an expert in the field is handling this side of your business. Nevertheless, when it comes to matters as important as network security and protecting your business from the ever growing threat of data breaches, you do need to choose a company with a considerable amount of care. Take your time and do your research. Look for a business that has a significant amount of experience in the industry, and make sure PCI compliance for merchants is at the core of what they do, as opposed to merely selecting a general cyber security firm. It is also a good idea to take the time to read reviews that have been left by previous customers. This will give you a good insight into the reputation of the company. If you come across negative comment after negative comment, you know to look elsewhere.

Why You Cannot Ignore PCI Compliance

A lot of business owners discover that their business is not PCI complaint, and they don’t do anything about. After all, it seems a lot more hassle than it is worth, and PCI DSS is not law, so they don’t need to adhere to it, right? Wrong! Failure to achieve PCI compliance could spell huge damage for your business. We all know that data breaches are on the rise in the current day and age. If your business suffered a breach and you were shown to have not made an effort to achieve compliance, you could find yourself in huge trouble, especially if you have lied on the PCI Self Assessment Questionnaire to make it appear as if your business is compliant. In such instances, your bank will pass on a fine to you; this will be something between £3,000 and £65,000. You will then have to contend with massive reputational damage, the cost of identifying and fixing the security vulnerability, compensation expenses, and fraud losses. This can be difficult to come back from, which is why many companies have ended up closing down altogether. Retail Secure can ensure you do not suffer this fate.

Is My Business PCI Compliant? It Will Be When You Choose Retail Secure

If you are still unable to answer the question ‘is my business compliant?’ all you need to do is get in touch with Retail Secure. We have an abundance of experience in payment and network security, and we will be able to tell you whether you have achieved PCI compliance or not. If not, our cyber security solution, RetailCompli, will guarantee compliance for your business while also reducing the threat of data breaches. It does this via LAN segregation and the creation of a Cardholder Data Environment (CDE), amongst other features. To find out more, head to https://www.retailsecure.co.uk. If you have any queries, simply call us on +44 (0) 333 320 8848.

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