Are Your Credit Card Data Storage Solutions PCI Compliant?
With the shift to digital currency, the culture of paying for goods and services by cash is slowly fading away.
Cashless systems are now the norm everywhere, many opting to carry just a little or no cash at all when they go shopping.
Nowadays, many companies are accepting payments via credit cards, and this means more convenience for the customers.
No wonder many customers are okay leaving their credit and debit data with their merchants for future business as long as the retailer is PCI compliant.
Data Security is a Concern
But plastic payments have increased responsibility for retailers, who have to handle all that info. Retailers who keep card data for their customers must be PCI compliant.
In summary, the guidelines state that no retailer or practice should keep credit data on paper or their electrical systems. That’s why it is a good idea to partner with a reliable merchant service provider to maintain data safety and integrity.
Keeping You Customer Credit Card Info PCI Compliant
Follow these tips to keep client card data safe.
1. Operate in compliance with PCI Security Regulation
Businesses that take debit and credit payments must use gadgets and software that comply with the requirements of PCI. Whether you use a POS terminal for transactions, a swiping machine linked to payment-processing software, make sure both the software and the hardware are PCI Compliant.
Ideal software and hardware products undergo rigorous testing to ensure their integrity. Partnering with reputable service providers and suppliers to boost up security.
2. Work with Payment Processors who comply with PCI standards
Keeping customer credit card data onsite is risky. Do not keep any client confidential data if you aren’t ready to keep it safe. These scanned or photocopied copies of the credit cards are easy to compromise; therefore, you should stay away from physical storage.
Instead, you can keep card details by partnering with third-party services that enable you to save your shopper card data in their systems, usually online.
Such systems hold keep card data on your behalf and allow you to use the data without keeping the card info yourself.
3.Collect Data with Safeguarded forms.
Utilize web-based forms to collect payments in your ecommerce business and to collect credit card data. PCI certified companies offer most of these forms. These forms pass a customer's card info to their payment processor automatically for keeping. This data can then be used for different purposes i.e., processing payments, staying on top of subscriptions, while protecting the customer's data.
4.Have clients Sign an Agreement or Accept Terms & Conditions.
Before storing a customer's credit card information, you should candidly explain the reasons for storing the card, the charges that it could incur, as well as the frequency of charging the card.
The customer should have this information before surrendering the card to you, having signed an electronic agreement form, or agreed to the terms and conditions.
5. Secure Paper storage and Encrypt electronics.
You should not store credit card information in your form builder, on paper, or even in your database. Storing this data yourself keeps it vulnerable to unauthorized access by thieves and hackers. Moreover, these practices are not PCI compliant.
Some scenarios may necessitate physical storage of credit card numbers, for example, as proof of written authorizations for mail order payments, or recurring payment authorizations.
If such a case arises, ensure that you keep all paper documents secure in a locked drawer or safe.
If you opt for electronic storage of credit card numbers, you have to ensure that the computer or mobile phone is encrypted using reliable encryption software. With the encryption in place, the credit card data is safe even if the devices vanish or if there is unauthorized access.
In a nutshell, cashless payments are the new norm with credit card or debit card payments taking the front line in this new system. As a retailer who is up to date, you have to adopt credit card payments.
You then have to quickly learn how to safeguard your client's credit card information when they trust you with it, and when correctly done, it proves to be active and convenient for both you and your customers.