Compliance Glossary

PCI Validation is a part of handling cardholder data. You might be a small startup or a big company, but you need to follow the PCI DSS as part of your contract. However, it’s not a one-time thing; you must stay compliant and validate it yearly.

Hence, to validate your PCI compliance, you must keep your security measures current and follow the 12 requirements mandated by PCI DSS. 

Drawbacks of not being PCI-validated

Not following PCI compliance when dealing with credit card transactions can lead to serious consequences. It’s not just about the risk of a data breach; there are other consequences too.

• You might face fines and penalties for not complying with PCI standards. These fines can start at $5,000  and move upwards to $500,000.
• Non-compliance can result in banks and payment companies refusing to do business with you. This means you could lose out on sales, and your business reputation might suffer.
• If there’s a breach and cardholder information is compromised, you must notify all the affected individuals in writing. This adds to the hassle and potential damage to your brand’s image.