While you will need to fill out a self-assessment form (which can be up to 300 questions), we’ll be with you every step of the way online or over the phone and ensure you avoid any costly errors. This is a mandatory security requirement that applies to all businesses taking card payments in person, over the phone or online – it helps keep both you and your customers safe from data breaches. It is a mandated part of the UK regulatory requirements for everyone involved in the end to end handling of a transaction. Level 1 businesses must have yearly on-site reviews by an internal auditor as well as a required network scan by an approved scanning vendor. Service providers in levels 1-3 have to report their PCI compliance status directly to a bank. PCI DSS, or the Payment Card Industry Data Security Standard, is a set of requirements that aim to limit the cost to the consumer, businesses and financial institutions by reducing the number of data breaches. Well, it simply means falling in line with a set of 12 requirements and being able to prove that you’re meeting them. As a guideline, you’ll need to pay a monthly PCI management fee, which is included in your quarterly invoice from your card payments provider. Also, as mentioned above, you’ll need to make sure your software is updated. Manage Cookie preferences. PCI compliance relates to PCI DSS, which stands for Payment Card Industry Data Security Standards. The PCI Security Standards Council. We make compliance easier to understand. If you are found to be non-compliant, fines and penalties will apply, ranging anywhere from $5,000-$100,000 per month, depending on the circumstances. The liability of the member is limited. These may include fines of anything in the region of £3,000 to £60,000, and they may not stop until there is a change. This is why costs can vary. PCI DSS is the Payment Card Industry Data Security Standard and is a set of technical and operational requirements set by the PCI Security Standards Council (PCI SSC) to protect cardholder data. Track all access to network resources, so you can identify any weaknesses that compromise your security. For more information visit our Cookie page. As you might imagine, it’s a big operation. These allow us to recognise and count the number of visitors to our website and to see how they move around our website when they are using it. To become compliant, you’ll need to meet certain security requirements. so why not speak to us today to learn how Opayo can support you. We know compliance might sound complicated. - Protects customers’ sensitive data You’ll find a full list of approved scanning vendors online from the PCI Security Standards Council. PCI compliance Definition: the Payment Card Industry Data Security Standard (PCI DSS) is a written standard, created by the major card brands and maintained by the Payment Card Industry Security Standards Council (PCI SSC). Businesses processing 1 million to 6 million card transactions annually across all channels. PAS 555. The PCI Security Standards Council. Remember: We can help you complete this lengthy process over the phone by avoiding costly mistakes and saving you time so that you can focus on running your business. But the fact is that compliance is worth the effort – and the benefits are significant: - Reduces the risk of data breaches When you sign up with us, and we’ll talk you through the whole assessment while you’re on the line – in no time and with no costly mistakes. The level that applies to you as a merchant depends on the volume of payments you process every year: - Level 1  The level in which which your business falls into depends on how many card payments you take annually. We’ve just launched our latest white paper on PCI Compliance! These are cookies that are required for the operation of our website. While you might already have most of the above in place, formalising these measures is good practice and ensures that they’re in a position to be maintained. If you are a merchant of any size accepting credit cards, you must be in compliance with PCI Security Council standards. So, how do you adhere to the standard – what is PCI DSS compliance? Each level has its own specific requirements – including completing annual reports, undergoing network scans, filling out forms, and answering questionnaires – and you must meet the ones that apply to you. However, it’s also true that PCI compliance is not a legal requirement. See which level you are…. PCI Compliance is essentially a set of rules or regulations set up by the Payment Cards Industry Security Standards Council that is intended to protect the identity and financial security of those who use electronic payments. With more than 3,800 publicly disclosed breaches exposing an incredible 4.1 billion compromised records in the first six months of 20191, data privacy concerns among consumers have never been higher. As a guideline, you’ll need to pay a monthly PCI management fee, which is included in your quarterly invoice from your card payments provider. Simply to differentiate it from the international PCI, it shall hence be referred to as PCI Compliance UK. We have placed cookies on your device to help make this website better. PCI DSS (the Payment Card Industry Data Security Standard) is a set of controls designed to help businesses process card payments securely, reduce card fraud, and ensure that customers’ card details are protected. Registered in England and Wales – Number 07492608. This applies to all types of card payments: online, by mail, over the phone or using card machines. And this means it’s in your best interest to abide too. Maintain an information security policy. The good news here is that the standard achieves exactly what it set out to do: it reduces the risk of data breaches. As we already touched upon, when you accept a card payment, you and your customer are sharing sensitive, financial information. At the beginning of your contract with us, you have a two month grace period before you’re liable for monthly non-compliance fines which will be charged by the Payments Card Industry Security Council. Assign unique IDs to those with computer access and limit physical access to cardholder data. Your business has plenty of other goals to achieve, concerns to address, and processes to manage, without having to worry about card payment compliance. Compliance helps you reduce risk of liability in the event of fraud. But first, let us address a few key questions: why did PCI DSS first come about; why is it beneficial; what are its various levels; and what is the PCI non-compliance fee? So you can avoid liability in the event of data theft. Their systems already feature anti-fraud and encryption features, so you don’t have to worry about them. PCI is administered and managed by the PCI SSC. - Helps you avoid expensive fines ©️ 2020 Elavon Digital Europe Limited, To know more about the cookies used in this website refer to our Cookie Policy. In addition to the potential fines mentioned earlier in this article, there are several other consequences of not being PCI compliant. Businesses processing 20,000 to 1 million e-commerce transactions. Bear in mind, compliance fees might increase if your business isn’t complying with the regulations. 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