Achieving PCI Compliance can be challenging. However, maintaining compliance with the latest version of the PCI Data Security Standards can be even more difficult. As part of the PCI Compliance process, there are many different things that an organization must do throughout the course of the year to satisfy the PCI Security Standards Council and the payment card brands. If you fail to complete the requirements outlined by the PCI Security Standards Council, there are several possible things that could happen:
Risks of non-compliance
- You run the risk of being fined by your Acquiring Bank for non-compliance.
- One of the specific card brands could terminate their relationship with you, not allowing you to accept that specific brand of credit card as a form of payment.
- Your acquiring bank could be forced to terminate their relationship with you, thus not allowing you to accept credit cards as a form of payment.
Possible civil litigation from consumers if a breach of their payment card data were to occur:
- Damage to your reputation as a business resulting in a loss of trust by customers.
- Significant losses of money if your company is the victim of massive fraud with payment cards.
None of the possible outcomes above is positive nor will they help your business in the short term or the long term. In fact, going through the process of becoming PCI compliant is almost always far less expensive than taking the risk of not being compliant.
Our experienced QSAs know what it takes to help smooth out your way to compliance. Contact us to find your way to compliance.