To comply or not to comply...

by
on Monday, August 31, 2015 8:15:00 AM

We consistently have the day-to-day struggle of making choices and trying to forecast the outcome. Do I leave the house on an overcast day without an umbrella and risk getting soaked? Should I get gas before work or can I wait until afterward? Do I bite into that pizza roll immediately after being nuked in the microwave and risk burning the inside of my mouth? These circumstances are all that we are truly left with when the day is over. The same thing goes with ensuring your personal and credit card information. Should I purchase from a company that boasts that it is PCI compliant or go with the company that doesn’t? And the companies are thinking should we become PCI compliant, yes or no?

First off, what’s PCI compliancy? PCI stands for Payment Card Industry. (Sometimes it’s referred to as PCISS which stands for Payment Card Industry Security Standards.) Essentially it is a set of standards to safeguard and control access to your customers and/or vendors personal and credit/debit card information.

The choice is ultimately yours if you want to work with a company that is or is not PCI compliant. Same goes for the company – the choice is theirs. But for companies, whether large or small, sometimes a lot more goes into the decision making process and whether or not it’s something they want to pursue. On the one hand, becoming PCI compliant may add some paperwork or day-to-day tasks for an employee. But on the other hand, the benefits will greatly impact your company and your customers. So in the long run, does the additional work really matter?

Well, being PCI compliant is an ongoing process. It’s not like flipping a switch and boom, you’re PCI compliant! With the constant advances in technology, so increases the sophistication of the data, equipment, software, and even the thieves out there willing to steal it. PCI compliancy helps you stay ahead of the game and helps you prevent breaches or card data theft now and for many fiscal years to come.

As a company there are many benefits for being PCI compliant, but the one that counts the most is the trust of your customers and vendors. That speaks volumes. I am, as a customer, more likely to spend money with a merchant or company that safeguards my information. I will likely open credit cards with them and go to that company first for all of my needs. Trust is a big motivator for me and how I will spend my money.

The risk of being a company that is not PCI compliant is much more detrimental then a little extra paperwork or lengthy process. Firstly of all, there is the chance of inducing panic. The panic stems from knowing that your customer’s information is vulnerable to tampering or theft. At any time you could lose all of the important information for all your new and longtime customers. Secondly, the ramification after the said information is comprised is something you want to avoid. Otherwise plan on some, if not all of the listed items, to occur:

  • Lawsuits
  • Insurance claims
  • Cancelled accounts
  • Payment card issuer fines
  • Government fines

Kendall Howard is well aware of PCI compliancy and we would like to help you and protect your data in any way we can! Physical security standards are a category in PCI compliancy and this area focuses on controlling and limiting access points to the physical technology with your company’s stored data. We have several secure products to help restrict access to unauthorized users. For instance, we offer LINIER® Wall Mount and Full Size Server Cabinets that can be locked up to secure your equipment. (Not applicable to our 3170 and 3180 full size series that come without doors.) You can also add our LINIER® Wall Mount Combination Lock to any of our LINIER® Fixed or Swing-Out Wall Mount Cabinets to limit access. Or, depending on the type of equipment you have, the DVR Security Lock Box might be just the locking mechanism for you! Whatever method or product you choose, just remember that security is key! (Pardon the pun folks.)

No matter what your business is, security can play a factor in its success. Your customers come to you because of their trust in you and in your business. PCI compliancy is a way to help reinforce and build upon that trust. Repay them by ensuring that they are in good hands.