eCommerce Checklist: PCI DSS Compliant eCommerce

ECOMMERCE DEVELOPMENT CAN BE TOUGH. LET THE EXPERTS HELP YOU UNDERSTAND WHAT YOU NEED
The Ultimate Guide to Why PCI DSS is so important

What is a PCI DSS eCommerce Checklist?

The global marketplace is progressively evolving, as most transactions are now cashless. The use of cards is widespread, and thus protection of every cardholder's data is crucial now more than ever. Cybercrimes are on the rise, so it is rational for you to be worried about your eCommerce store's security.

Are you new to eCommerce, or have you been around for a while? Either way, you will benefit from this comprehensive guide to help you stay informed with the necessary information regarding the PCI DSS requirements vital in your business's security system. Payment Card Industry Data Security Standard, or PCI DSS, is a comprehensive list of guidelines that ensure sensitive cardholder information security.

It was formed in 2014 by a merger between various card issuers like Visa, Mastercard, American Express, amongst others, to face card fraud. You should not regard this as legal advice. Instead, it is a set of criteria and guidelines that must be adhered to by every eCommerce store owner involved in the storage and transmission of cardholder data.

In simple terms, PCI DSS compliance requirements protect credit card data from getting into the wrong hands. Misuse of such information will inevitably lead to increased cases of unauthorized transfer reports by card owners. Your customers have entrusted you with vital financial information, and you have to take all necessary precautions to protect it.

The PCI DSS compliance requirements are set to strengthen any business's security system conducting transactions via the internet or automated devices. Its main aim is to protect not the card issuers but also every credit cardholder. The Payment Card Industry Data Security Standard requirements are not universal for all businesses but vary depending on the different PCI DSS merchant levels.

Understanding the differences and benefits of merchant compliance levels

What Are The Different PCI DSS Merchant Levels?

The different merchant levels come with distinct PCI DSS requirements and are primarily based on valid transactions per year. Your payment environment determines your compliance requirements. It would be best if you decided which merchant validation level is appropriate for you. The PCI DSS merchant levels are as follows;

Account Level 1

  • Merchants that process over six million transactions yearly through all channels, e.g., card present, card not present, eCommerce.
  • Merchants that process above 2.5 million transactions exclusively via American express yearly.
  • Merchants that have a history of cyberattack

Account Level 2

  • Merchants that process between a range of one to six million transactions yearly through all channels, e.g., card present, card not present, eCommerce.
  • Merchants that process within fifty thousand to 2.5 million transactions exclusively via American express yearly

Account Level 3

  • Merchants that process between twenty thousand to one million transactions yearly only via the eCommerce processing method.
  • Merchants that process less than fifty thousand transactions via American Express.

Account Level 4

  • Merchants that process less than twenty thousand transactions yearly through all channels, e.g., card present, card not present, eCommerce.
  • Merchants that do not process greater than twenty thousand card transactions annually from eCommerce only.
What are the consequence of PCI DSS requirement non-compliance?

What is the PCI DSS requirements Checklist?

This consists of a list of criteria that enables businesses to put together a fortified information security protocol. This set of requirements monitors cardholder data's source and nature, using such information to better secure it.

Over time, repeated revision and improvement of the PCI DSS policy have helped its efficacy and accuracy in improving company security systems. At Clarity Ventures, we have put together a list of the PCI DSS compliance requirements crucial for certification. The PCI DSS requirement checklist contains the following;

  • Install and maintain a firewall configuration to safeguard all cardholder data
  • Do not use vendor-supplied defaults for passwords and other security parameters
  • Use PCI tokenization for the protection of stored cardholder data
  • Encrypt transmission of cardholder data across open and public networks
  • Use anti-virus software or programs and regularly ensure they are up to date
  • Develop and maintain secure systems and applications
  • Restrict access to cardholder information to a business need to know basis
  • Each person with computer access should possess a unique ID
  • Ensure physical access restriction to cardholder data
  • Consistently track and monitor all access to network resources and cardholder data
  • All security systems and processes should be examined and tested regularly
  • Maintain a strict policy that addresses information security for all personnel

All you have to do is select the validation that suits you and then commence your certification process. You should also set up an automated tool for auditing your certification.

If you violate any requirement that applies to your merchant level, expect a monetary penalty from card issuers. In a case where customer data is stolen from your storage due to your negligence, you may be fined heavily and stand the risk of losing your privilege of receiving card payments in the future. You should expect to face any of the following penalties;

  • PCI non-compliant fees
  • Repeat assessment of PCI DSS compliance
  • Suspension of ability to accept card payments
  • Paid Compulsory Forensic examination
  • Possible fraud charges
  • Fee for Replacement of every affected credit cards

Another downside of PCI DSS violation that is more difficult to clear is losing your customer's confidence. This distrust will have an enduring impact on the reputation of your company. Securing your eCommerce store shouldn't give you sleepless nights as you have available guidelines to keep all your security systems fortified. Getting your PCI4 DSS requirements is not just a fancy protocol; know that your company's long-term safety depends primarily on it. At clarity ventures, we aim to help your business gain and maintain PCI DSS compliance, without which your business is more likely to take a prolonged setback that could have been easily avoided. You can deflect the tragedies of cybercrime for both you and your esteemed customers by contacting us today. It is much easier to prevent a breach of your company's security system than to deal with the aftermath. Our top-notch professionals are always available to help you every step of the way. We look forward to hearing from you.