Discover what PCI Compliance/DSS is and why is it important for e-commerce.
PCI Compliance, PCI DSS or Payment Card Industry Data Security Standard is a group of security requirements and procedures aimed at protecting the cardholder data that is required to process with each payments made using a card. The purpose of adopting PCI DSS is to rule out the possibility of fraud or data theft. In other words: adopting a PCI DSS compliant payment solution means providing a secure consumer shopping experience.
PCI DSS or “Payment Card Industry Data Security Standard” is an international security certification that applies to the entire payment processing chain when processing a card payment: merchants, processors, acquirers, issuers and service providers. That is, entities that store, process or transmit cardholder data (CHD) and/or confidential authentication data (SAD)”.
Created in 2004 jointly by the brands MasterCard, American Express, Visa, Discover and JCB International, the PCI DSS is regulated by the Payment Card Industry Security Standards Council, constituted by the same group and guided by an open global forum. The Council’s role is to improve data security by guiding best practices and helping to implement them to establish a minimum-security standard.
The issuing bank and the acquirer of the cards share responsibility for complying with these guidelines and for punishing those responsible for cases of data leakage. Merchants, in turn, need to ensure that their systems and processes keep consumer data secure (such as cardholder name, card number, security code and expiration date), regardless of the size of the business or the volume of operations. Making sure card data is safe is also a responsibility of the merchant that accepts card payments. Choosing a suitable PCI DSS payment processor or payment gateway is the best way to achieve this goal.
PCI certificate comprises the minimum requirements to ensure information security. This set of best practices can be improved to further decrease the chances of leakage or even to comply with local laws or regulations specific to a trade sector.
The list of requirements to obtain a PCI certification comprises 12 items, which can be grouped into six major objectives:
PCI DSS certification has 4 different levels, related to the number of transactions processed annually:
Level 1: processes more than 6 million transactions per year. (This includes an annual auditing and certification process).
Level 2: processes between 1 and 6 million transactions annually.
Tier 3: Annual processing of 20,000 to 1 million online transactions or less than 1 million transactions in total over a year.
Level 4: processes less than 20,000 online transactions or up to 1 million transactions in total in a year.
From Level 2 to Level 4, merchants are required to complete an annual self-assessment questionnaire, undergo a quarterly network check, and obtain an attestation of compliance for on-site assessments. Companies with a Level 1 certificate do not need to do the self-assessment, but are audited every year by a qualified security advisor or by an internal auditor with the consent of the company director.
For Payment Providers (PSPs), there are two levels:
Level 1: over 300,000 transactions per year;
Level 2: below 300,000 transactions per year.
Assessment requirements include a quarterly network scan, an audited compliance certificate and an annual compliance report, in the case of a vpn, for level 1 PSPs. Bexs Banco’s is PCI Level 1 certified.
In addition to being mandatory for everyone who participates in card data processing, to choose partners that meet PCI DSS security requirements also goes in favor of the reputation your company will build online. We are talking about e-commerce platforms, servers and the aforementioned payment processors and the online payment gateway. See below what your company gains when working in partnership with companies with PCI Compliance:
– Legal liability: if there is a data leak or other type of cybercrime, the payment process will be investigated for weak points. Situations like this can trigger legal actions and a lot of headaches.
– Fraud protection: when a fraud occurs, your establishment loses twice: when sending the product to the sender who appropriated third-party card data and when refunding the amount paid to the injured consumer (who will probably request the cancellation of the purchase together card provider), a procedure known as chargeback.
– Consumer trust: increasingly educated, digital consumers are always looking to be aware of the reputation of the e-commerce with which they share their data. You don’t want your brand to be involved in security breaches, do you?
Using a PSP solution developed by Bexs within the PCI DSS guidelines, you will be guaranteeing your consumer the safest payment process on the market. Our APIs are built to the highest security standards in the payments industry. With them, your company can also accept international online payments, with amounts automatically converted to the consumer’s local currency, and receive in your preferred currency, wherever you are. Contact us!
Are you split between a Payment Service Provider or payment gateway for your online business? Here are 3 characteristics making […]
Find out what live commerce is, how it can boost your local or cross-border e-commerce business and what you need […]
While NFC contactless payments have been widely adopted by physical retailers, QR Code payments are a local and cross-border e-commerce […]
Cross-border expansion, online mobile sales, the most successful categories and more: check out the insights and numbers for Brazilian e-commerce. […]
Learn about chargebacks, how they can impact your e-commerce business and how to minimize payment reversals. The overall […]
Find out how to increase data security using antifraud solutions for online payments. Trust is a critical factor […]
Discover new online payment options and check out the data on Brazil’s Open Banking The last of Brazil’s […]
Credit in purchases, which have been very popular in Brazil for quite a while, are also a recent trend in […]
Check out the latest news about the new foreign exchange regulation and understand how access to international transfers has become […]
Find out what a payment service provider can do for your business and what to consider when choosing a solution […]
Find out what social commerce is and how this channel can help your business grow. After social isolation […]
Check out some data from the last Black Friday in Brazil and insights to boost sales for this market. […]
Check out some reasons to adopt payment links when billing products or services The e-commerce market is the […]
A payment API facilitates your company’s routine and benefits customers with a wide range of payment methods. Know more! […]
See how the money transfer through message application works and WhatsApp Pay impact on Brazilian payments. Since May […]
Check out what is already known about Digital Real and the possible impacts of digital currency in Brazil Digital […]
Find out which niches are most sought after by Brazilians in online shopping and which are the most sold products […]
Find out the difference between recurring and installment payments and which of these payment methods is right for your business. […]
Do your e-commerce customers back out when it’s time to pay? Understand how to get around that behavior. […]
The cross-border e-commerce expansion also involves reducing delivery times. Learn how important it is to track your purchases to avoid […]
Find out how receiving money through Pix can be beneficial for your business
A summary about the news and the possibilities of transformation of the Brazilian Financial System.
Welcome to the Chinese new year 4719, ruled by ox and the metal element. Understand more about this date and […]
Even with the pandemic and the exchange rate fluctuation, online shopping from China is a growing trend that will continue […]
We explain payment gateways and payment providers (PSPs) to help you choose the best e-commerce option. Payment […]
Record digitization and a thriving innovation ecosystem. Understand the reasons for placing the region, and especially Brazil, in your expansion […]
The already growing demand increased with the pandemic, but the bottlenecks in payments for software impact the daily life of […]
Understand what pix is, how it came up and what is its impact in the future Brazilian payment market.
Double Eleven is celebrated in China, breaking sales records every year, and is now consolidating expansion to Brazil.
Partnership between Bexs and PayMyTuition optimizes payments for foreign courses, expanding access for Brazilians.
Learn more about this trend from the United States that has become one of the biggest shopping dates in Brazil, […]
The partnership between the company and Bexs Bank demonstrates the importance of adapting to the market with growing demand for […]
How the coronavirus outbreak has accelerated the digital revolution in education globally and the barriers to consolidating this learning tool.
See the latest Webshoppers 41 figures from eBit|Nielsen, which is the largest survey of online sales in Brazil.
Our CEO, Luiz Henrique Didier Jr., presented on The Paypers some articles about payment industry and solutions, on the particularities […]
The number of unbanked people has created trends and solutions that break down barriers to their inclusion with regard to […]
Bexs Bank brings insights about this segment that transformed cultures around the world, posts double-digit annual growth and shows highly […]
The barriers in companies for transactions involving forex hinder internal processes and the productivity of areas.
Learn more about installments, an unique method commonly adopted by Brazilians to purchase a wide range of goods and services.
Learn more about the subscription business model that is changing consumption patterns and remaking the economy.
Learn more about the importance of APIs to international business strategies and cross-border payment processing.
Brazilians are gaining more access to various products from Chinese online merchants thanks to easier payment and delivery process.
Bank slip is a payment method that is part of the daily life of millions of Brazilians. Find out all […]
Brazilian consumers are increasingly engaged in buying various products at competitive prices from international websites, despite the logistics and customs […]
The e-commerce market in Brazil is huge, but companies aiming to operate in the country must understand peculiarities regarding buying […]
In the world of payments, each country has its particularities. Brazil is no exception.