A quick guide to becoming PCI compliant
Working with data is a risky business that requires the traders to employ the necessary security measures. To understand what the law requires of you, it’s, therefore, essential to read through the PCI compliance document. To save you from the struggle of perusing through the vast records, we have detailed a stepwise guideline that can protect you from conflicting with the policies. Besides, the blog describes the various steps that a business person is needed to do to remain compliant.
What Small Traders Need to do to Become PCI Compliant?
The large percentage of the market comprises the small traders. They are characterized by a little number of transactions per day. However, this does not eliminate them from the threats of the online fraudster. Instead, they are the primary targets by the enemies, who wish to extract card information. Due to this reason, the customers stand at high risk of losing their monies. You have struggled with complying with the PCI, and your efforts to search for guidance online have turned futile? You need not worry anymore; we have simplified the process for you. The following paragraphs will highlight all that is required from you by the regulators.
Determine your Level
It is essential to know the level under which you operate your business. Various card offering traders are classified based on the number of transactions they handle per day. Due to this reason, the regulators have designed different policies and requirements, based on the phase of the business. A level one trader has more responsibilities than a level four. For example, level 1 is supposed to submit regular scans of the transactions, to the regulator, as a prove of maintaining the set standards. Moreover, any document can be requested at the discretion of card services offerer. Check with your bank to ascertain your level.
Determine What Exactly you need to Submit for Compliance
Once you determine your level with the bank, the next step is to decide what to provide. You need to understand the SAQ that is required, to avoid breaching the agreements. One thing that should be recognized is that the requirements may change with time, therefore, essential to keep on clarifying and checking with the provider. Validation is performed once all the requested documents are availed for verification.
Authorized Scanning Vendor (ASV)
ASVs are organizations which perform quarterly scans for the traders. PCI council directs all organizations that are supposed to submit such scans to link with ASV provider. Businesses are expected to present clean scans that are devoid of errors. Often time, traders choose to perform the very first scans at early dates, to identify mistakes. They remediate the problem long before the actual scans are submitted to the council.
In need of Expert Guidance?
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