PCI Certification: How We Keep Your Payment Data Safe

This is how we protect your data. With the increasing threat of cyber attacks, it's essential for businesses handling credit card information to comply with the PCI DSS standard. Discover more about security at pensopay.

October is National Cybersecurity Month, and at pensopay, we have once again completed our annual PCI certification. PCI DSS stands for Payment Card Industry Data Security Standard.

The Purpose of PCI Certification is to Protect Cardholder Data

pensopay is certified under the latest version of PCI DSS Level 1. The purpose of PCI is to establish a common international guideline for handling credit card data.

PCI DSS (Payment Card Industry Data Security Standard) is a set of security standards developed by major credit card providers such as Visa, Mastercard, and American Express to protect cardholders' data.

A PCI certification is proof that a business complies with these standards by implementing strict security protocols that reduce the risk of data breaches and fraud related to the handling, storage, and transmission of payment card information.

Why is PCI Certification Important?

PCI certification safeguards our customers' payment information and imposes high standards on us as a payment solution. This includes ongoing training in secure coding practices and strengthening cybersecurity measures. It also requires background checks for employees to ensure that security is thoroughly implemented, allowing us to provide the highest level of protection.

Key Points About PCI Certification:

1. PCI DSS was developed in 2004 by major credit card companies, including Visa, MasterCard, American Express, Discover, and JCB.

2. Purpose: To protect cardholder data by establishing secure procedures and technological requirements for the storage, processing, and transmission of credit card information.

3. Compliance requirements: PCI certification mandates that a business meet 12 key requirements, which include the following:

   • Installation and maintenance of a secure network infrastructure
   • Encryption of data during transmission
   • Regular monitoring and testing of the network
   • Limiting system access based on need
     
     
4. Businesses that require PCI certification: Any business that handles, stores, or transmits credit card data—regardless of size—must comply with PCI DSS standards.

Benefits of PCI Certification:

Both consumers and e-commerce stores benefit from the stringent security requirements of PCI certification.

1. Increased customer trust: Our strict security standards are designed to reassure our customers about the safety of their payment information.

2. Reduction of the risk of data breaches: By adhering to the PCI standard, we reduce the risk of becoming victims of cybercrime, which can lead to the loss of customer information and financial penalties.

3. Compliance with regulations: In many regions and industries, compliance with PCI DSS is a legal requirement for businesses that handle payment card data. Failure to comply can result in significant fines.

4. Prevention of financial losses: A data breach can be financially devastating for a business, both due to potential fines and loss of customer trust. Certification helps prevent this.

Furthermore, we impose high standards on our third-party vendors and relevant partners to ensure compliance with PCI requirements. It is a requirement that they are also PCI certified so that we achieve the highest level of security throughout the entire value chain.

Interested in learning more?

Learn more about our data security here. If you have any further questions, you can contact us at support@pensopay.com.