PCI DSS

PCI DSS stands for Payment Card Industry (PCI) Data Security Standard, an information security standard for Credit Card payment established by the PCI Security Standards Council. PCI DSS strengthens global payment security and helps protect the merchant and the customer from scams and data breaches.

The merchant must complete the SAQ (Self-Assessment Questionnaires) within 90 days of the account being approved to avoid non-compliant fines.

What Do The Merchant Needs To Do With PCI

Following approval of the merchant account, the merchant will receive registration information for the PCI security certification in the email on file and can proceed with the questionnaires.

PCI Compliance Fee

The merchant should follow the guidelines of PCI DSS to secure the process with payment and data transfer. Ex. (Encrypt Transmission of cardholder's data, Regularly test security systems, Restrict and monitor all access to the network, etc.)

The payment processor company will charge the merchant a PCI Compliance Fee in order to support and guarantee that those requirements are carried out. These costs will be used for compliance checks, vendor screening, safety audits, and more. Make that the customer's data and the merchant's payment system are secure.

Penalties apply if the merchant fails to comply in the provided time range. Penalty fees are $20-$50 monthly. Penalty fees will be removed once the merchant is PCI Compliant.

Updated on: 03/10/2023