Question

Please describe the use of digital payment in your organization and the role of PCI-DSS in protecting such transactions. If your organization/workplace does not implement digital payments, suggest a process or avenue to implement it

Answer 1

PCI DSS in Breif:

• PCI DSS are standards that transact via credit card must abide by.
• Originally that is created by Visa ,MasterCard,Discover and American Express in 2004 ,the PCI DSS has evolved over the years to ensure that online sellers have the systems and processes in place to prevent a data breach.
• The most recent version is PCI DSS 3.2. version was introduced in April 2016 and officially replaced version 3.1 on February 1,2018 as the standard all companies must follow.
• The PCI Security Standards Council (PCI SSC ) defines a series of specific Data Security Standards (DSS)that are to all the merchants ,regardless of revenue and credit card transaction volumes.

Use of PCI DSS:

• PCI DSS is a minimum standard that should be used to minimize the risk to cardholder data.
• Its is an industry regulatory requirement worldwide.
• Its is a vital importance to the payment card ecosystem, a breach or theft cardholder data effects the entire chain.
• This can lead to customers loosing trust in merchant business and financial organisations.

Avenue to implement PCI DSS:

• Build and Maintain a secure network system
• protect cardholder data
• Maintain a Vulnerability Management program
• Implement strong Access Control Measures
• regularity monitor and test networks
• Maintain an information security policy