From many years the credit card provider companies pushing the merchants to use PCI DSS compliance which is a complete set of rules and regulation for ensuring the highest level of security to the card owner like card information, billing details. However, even then companies are not taking this issue seriously.
Knowingly all these aspects merchants procrastinate, we already have many incidents in which hackers had done many transaction by penetrating the secure networks and compromising the credit and debit cards. It is very much possible for hackers to have any kind of decrypting algorithm which can grant them access to the PIN (personal identification number) and other personal information. And having this much of information with them they can do everything what you do with your credit card like shopping, transaction etc.
Many big companies like TJX Companies Inc have suffered the hackers attack and had a great loss also with these incidents we know that the problem is not poor security. In other words the large companies even develop quite good security system but they do not understand the other areas which are prone to threats. They spend a lot of resources and also time but could not concentrate the different possibility which can cause the problem, and how to protect their system against these kinds of attacks.
The industry of PCI was always aware of this fact that, if this kind of breach continues to grow then the result might be breaking down their system's integrity. So they are now imposing the penalties and fines to the merchants who are not following the PCI DSS compliance. The ranges of penalties start from $300 and may equal to the all false transaction done from the credit cards.
Now for industries to become PCI DSS compliant is a smart business trend. As latest technology gives us a free way to transect and buy anything, anywhere it also gives the criminals new methods to hack or steal money from us. So taking PCI DSS compliance is a smart decision to make yourself safe from breach and your customers to have secure transactions.
Marc Trimble is the CEO of http://www.West7th.net. With over 18 years of web building, internet marketing, online advocacy and social media initiatives, he helps businesses and non profits succeed online. Make sure you're using a PCI compliant shopping cart for your e commerce business.
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