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Securing Your Payment Transfers

04.11.2008
Credit card companies issue to consumers, who shop on credit and pay bills later. The companies make their money two ways: one, by taking commission from merchants and two, by charging interest from the consumers who use their services. The process could be no simpler.

Unfortunately, the credit card companies are also liable for any loss resulting through fraud. Globally, due to the increase of fraud through stolen credit card data, companies now don't want to cover financial loss unless the merchants and credit card service providers have made standard security arrangements. And that's where PCI SSC comes in.

PCI SSC

The PCI Security Standards Council is an open global forum for the ongoing development, enhancement, storage, dissemination and implementation of security standards for account data protection. Founded by American Express, Discover Financial Services, JCB International, MasterCard Worldwide, and Visa, Inc., the PCI Security Standards Council has been developed to enhance payment account data security by driving education and awareness of the PCI Security Standards.

In addition to creating the standards and spreading the awareness, the council manages training and certification through a list of approved PCI vendors.

How it Works