Today, not many people carry cash with them. They use credit or debit cards to make payments. Compared to using cash, credit and debit cards are more convenient to use and easier to carry.
However, the use of cards may not be as safe as it seems. There has been theft of data and money from the accounts of thousands of card users. A vendor that provides the facility for the use of cards has to follow guidelines so that the card provided by the company is safe to use for customers. They need to be what is called PCI compliance (Payment Card Industry).
Guidelines for Being PCI Compliance
They need to have a secure network built. This helps the customers to use their cards safely. The card holder’s data needs to be protected against theft. For this a firewall configuration has to be set up and maintained at all times.
There is a chance of some malware attacking the systems. This may cause harm, and make it possible for the leak of data too. For this, an antivirus needs to be in place, and be updated regularly.
There is a chance of new viruses being made and the antivirus used should be able to combat them. If it can’t perform, a new system should be installed, or multiple systems used. All this has to be done as the data of the customers is really important and this has to be protected from being misused.
Secure systems should be developed, used, and maintained so. Access to cardholder data has to be restricted. For implementing this, a very robust access control procedure has to be deployed and used.
Also physical access to the data of the card user should be heavily restricted and limited. The networks need to be tracked monitored continuously. If a discrepancy is found at any stage it has to be fixed immediately.
Loss of Data is Equal to the Loss of Trust
The loss of data is not only about money, but also about trust. The customer may not wish to continue using a card from the company that is not able to protect their data. Once trust is lost, it is very difficult to regain it.
The card company may not only lose one customer, but many more; as the word may spread that a particular card is not safe. Hence it is utmost importance to prevent such security breaches at any cost.
Security is a Primary Concern
In case this happens, the breach has to be rectified, and due compensation given to the cardholders.
Maintaining the security policy also helps build trust between the vendor and the customer. So a policy has to be put in place for information security. Why not use Checkmarx, a provider of high tech software security solutions, that can integrate into the process flawlessly.