What is PCI DSS compliance?
The PCI DSS otherwise called the Payment Card Industry Data Security Standard has been formulated by the five major credit card companies VISA, MASTERCARD, AMERICAN EXPRESS, DISCOVER and JCB to mitigate risks involved through online purchases and transactions and prevent data loss. The PCI DSS standards are required by these five credit card companies for any business that accepts, processes, or stores credit card payments and data.
PCI DSS mandates that companies take specific actions to ensure they are protecting credit card information. Merchants and processors failing to meet these standards can be subject to fines or loss of ability to accept credit card charges.