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Stay PCI DSS compliant with Security 7 Networks & e-Armor.
Why is PCI Compliance so important for the Retail Industry?
Payment card information (PCI) is valuable for the retail industry and it is common for this type of information to be saved. A recent study from Forrester Research showed:
Companies save PCI for a variety of reasons; recurring payments, one-click purchasing, etc. Studies show that saving PCI makes sales automation easier and conversions more likely.
If all that data is being saved regularly, it would make sense that it be saved in a way that is secure. The retail industry is very aware that payment card data is valuable, not only to them, but also to attackers and how damaging it can be to have that information stolen.
The average PCI Compliance fine can run anywhere between $5,000 and $500,000 per instance of non-compliance. For organizations of any size, that’s a hefty price to pay for non-compliance. But the risk to a company isn’t purely relegated fines.
Companies who’ve been attacked and had valuable PCI data stolen, typically see a drop in their customer base. That’s completely understandable. Personally, would you use a credit card to make a purchase at a retail store who’s parent company had recently been compromised and had customer data stolen? The answer is no.
The PCI Compliance standard was established to help businesses protect the sensitive data they collect from their customers and give them a set of best-practices to follow.
How Security7 Networks can help the Retail Industry stay PCI Compliant:
To safeguard your PCI assets, your organization needs a to develop a written corporate IT security policy that defines how IT assets are to be protected, expected employee behaviors, and the consequences of violations.
The experts at Security7 Networks can help you do that. There are seven key steps we take to help ensure you are PCI Compliant at all times. They are:
The first step in the process is to perform an audit. Using a trusted 3rd party auditing firm, your IT assets and business processes will be examined and any toxic data collection points will be identified.
While the audit is being performed Security7’s experts will use established compliance standards to prepare a response plan. After the audit results are in and the response plan has been created, we’ll analyze the results to discover any potential problems that may already exist and prioritize remediation based on risk.
Our experts will implement controls and solutions developed specifically to keep you compliant. After implementation we’ll give the solution another pass to identify any risks or problems that may have arisen and we’ll remediate them.
Finally, you’ll be able to generate reports and respond to compliance related enquiries and demonstrate that you are up to date with current compliance standards.