The Payment Card Industry Data Security Standard (PCI DSS) is the unified global standard for securing the process infrastructure of the payment industry. Visa, MasterCard, Discover Financial Services, JCB International, and American Express formed the PCI DSS in 2004. The PCI Security Standards Council (PCI SSC) oversees the compliance plan, which aims to protect credit and debit card transactions against data fraudulent activity.
Whether you’re a small business or a large organization, the Payment Card Industry Data Security Standard (PCI DSS) is required by the contract for anybody dealing with cardholder data. Your organization must be compliant, and your compliance must be reviewed on an annual basis. Credit card firms often require it, and it is specified in credit card network agreements.
PCI-DSS is a multilateral security standard that provides security management, policies, processes, and methods, network settings, and software design standards to secure other cardholder data. Furthermore, each of these five payment card brands supports PCI DSS compliance and works to promote its adoption.