Any merchant who accepts credit and debit cards as a form of payment must adhere to certain regulations.These regulations are overseen by the PCI (payment card industry) Security Standards Council.The PCI SSC was founded by the major credit card companies American Express, Discover, JCB, MasterCard, and Visa.The PCI SSC is an open global forum for the ongoing development, enhancement, storage, dissemination and implementation of security standards for account data protection ( https://www.pcisecuritystandards.org).
PCI Security Standards are the requirements set forth by the PCI SSC.These standards are created to protect the cardholder’s information.Although the council creates and manages the standards/regulations, it’s the individual credit card company that actually enforces compliance.
As mentioned in the beginning of this article, any merchant who accepts payment cards must adhere to the PCI Security Standards.To find out what your compliance requirements are you must contact the financial institution you are affiliated with.This would be the bank you have your merchant account through and/or American Express and Discover.
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