PCI compliant payment gateway

PCI compliant payment gateway

What is PCI compliance

Data protection when processing payments, especially when using online methods, has become an acute issue in recent years when electronic payments have rapidly gained momentum. In order to prevent fraud associated with the theft of card data, the largest card networks have cooperated and developed the Payment Card Industry Data Security Standard — a set of security measures that provide the complete protection of card details and other sensitive data engaged in financial transactions. Since then, any organisation that somehow deals with accepting, processing, transmission and storage of cardholders’ payment data should comply with the PCI standard requirements. The institutions that are obliged to be PCI compliant include banks, merchants, payment service providers and other organisations involved in processing electronic payments.

So, what are the PCI compliance essential requirements? The provisions of the PCI DSS standard cover such aspects as:

  • Development and improvement of secure network infrastructure

  • Protection of cardholder data with encryption and other security methods

  • Monitoring the process of updating system components and anti-virus software

  • Control and differentiation of access to information resources

  • Regular testing and monitoring of system security

  • Information security policy

As we see, the requirements of the PCI standard cover the security of information infrastructure at all levels. If a business has anything to do with the processing, transmission or storage of customer card data, the information security must be constantly maintained by both internal specialists and partner organisations.

Why is PCI compliance important for a payment gateway

It’s not uncommon for convenient one-click online payments on e-commerce sites to backfire on cardholders. With the explosive growth in online shopping, there has been a significant increase in card data leaks and fraud. Since a payment gateway is indispensable for processing online payments, integration of a gateway without PCI DSS compliance can entail many risks associated with possible breaches of sensitive data of their customers to third parties and using this data for fraudulent purposes. Of course, such moments are a big blow to the reputation of a business. That’s why creating a secure payment environment is a must.

A PCI DSS standard is universally applicable to payment service providers, Internet acquiring and processing companies. The same goes for payment gateways which are directly responsible for protecting transactions details. Therefore, every merchant who values their reputation will take all the required steps to ensure the maximum security of their consumers' confidential card data and choose a PCI compliant payment gateway.

What are the PCI compliance levels

The PCI DSS standard puts forward rather rigorous requirements for the security of any companies in which payment information is transmitted, processed or stored. Moreover, even if an organisation has already passed certification, an annual compliance check is still carried out. Such audits help determine if the business is complying with the security requirements in good faith or has received PCI DSS certification just for show. In case of violations, the company will have to pay a substantial sum of money as a fine.

Depending on the number of transactions processed by an organisation annually, there are four levels of PCI DSS сompliance:

  • Level 1: more than 6 million transactions annually

  • Level 2: from 1 million to 6 million transactions per year

  • Level 3: from 20 thousand to 1 million transactions per year

  • Level 4: up to 20 thousand transactions annually

It’s noteworthy that only an independent auditor — Qualified Security Assessors (QSA) carry out the PCI level 1 compliance validation. The certification procedure for this PCI compliance level includes an extensive audit of the company's information infrastructure, the development of recommendations and regulatory documents necessary to comply with the standard, as well as consulting support during implementation. To confirm their compliance with other PCI levels, a business will need to fill out the SAQ self-assessment sheet or perform an internal ISA audit.

Who needs PCI compliant payment gateway?

The PCI Security Standards Council obliges all banks, merchants, providers and other institutions involved in processing payments to comply with the PCI standard. Without it, the organisation cannot be considered reliable, and you cannot trust it with your personal data. A payment gateway can be compared to a regular POS terminal in brick and mortar store. Its main task in online payment processing to ensure the complete security of sensitive customer’s credit card data. Among the security measures that a gateway usually takes are encryption, tokenisation and others. To keep all data encrypted and secure, e-commerce businesses engage PCI compliant gateways in transaction processing. Thus, the integration of a PCI compliant payment gateway is a must for merchants who aim to deliver quality services and build customer loyalty quickly.

How can Corefy help?

Security should be a top priority for both cardholders and merchants when it comes to transferring or storing sensitive debit or credit card data. Corefy meets the strictest requirements of the highest PCI DSS level. Our team closely monitor each transaction to protect businesses and their customers from possible identity theft and credit card fraud. By entrusting processing your transactions to Corefy, you eliminate the need to pursue PCI compliance because you already have a fully protected payment processing system at your disposal. Create the best customer experience by ensuring the highest data protection of your consumer’s data.

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