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What is Payment Card Industry (PCI) Security Standards Council - History of PCI DSS

What is Payment Card Industry (PCI) Security Standards Council - History of PCI DSS What is Payment Card Industry (PCI) Security Standards Council - History of PCI DSS

What is Payment Card Industry (PCI) Security Standards Council

Payment Card Industry Security Standards Council

The payment card industry consists of all the organizations which store, process and transmit cardholder data, most notably for debit cards and credit cards.

The security standards are developed by the Payment Card Industry Security Standards Council which develops the Payment Card Industry Data Security Standards used throughout the industry.

Individual card brands establish compliance requirements that are used by service providers and have their own compliance programs.

Major card brands include American Express, Discover Financial Services, China UnionPay, Japan Credit Bureau, MasterCard Worldwide and Visa International.

Most companies use member banks that connect and accept transactions from the card brands. Not all card brands use member banks, like American Express, these instead act as their own bank.

Payment Card Industry (PCI) Security Standards Council - History of PCI DSS

There are five programs:

Payment Card Industry Security Standards Council
Pic Credit To hainesandlagerquist.com

  1. American Express' Data Security Operating Policy 
  2. Discover's Information Security and Compliance 
  3. JCB's Data Security Program 
  4. Master Card's Site Data Protection 
  5. Visa's Cardholder Information Security Program

They were initiated by these credit card companies. The intention of each company was nearly the same; and that was, to develop an additional layer of protection for cardholders and card issuers, by making sure that merchants meet the minimum levels of security when processing, storing and transmitting credit card data.

These same ideas led to the formation of the Payment Card Industry Security Standards Council (PCI SSC), and the companies combined their policies to create the PCI DSS.

There have been a number of versions of the PCI DSS up till now, with the first version 1.0 released on 15 December 2015 and the latest version 3.2, launched in April 2016.

Why there's a need for PCI DSS

The PCI DSS was developed to limit credit card fraud. PCI Compliance is, however, more about security than compliance. The objective of PCI Compliance is to confirm that security standards are met when processing customer payments, as well as for customer data management.

Verification of PCI Compliance is checked annually by a QSA (Qualified Security Assessor), who creates a ROC (Report on Compliance).

Although this is generally for companies handling millions of transactions, companies with less volume are only required to fill in an (SAQ) Self-Assessment Questionnaire as the means of reporting PCI Compliance.

The PCI DSS set up twelve requirements for PCI Compliance, which are organized into six groups known as Control Objectives.

Every single version of the PCI DSS has categorized these twelve requirements differently, into a number of sub-requirements; but still, the twelve main requirements have not been altered from the time of the standard's inception.

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NEtechy: What is Payment Card Industry (PCI) Security Standards Council - History of PCI DSS
What is Payment Card Industry (PCI) Security Standards Council - History of PCI DSS
What is Payment Card Industry (PCI) Security Standards Council - History of PCI DSS What is Payment Card Industry (PCI) Security Standards Council - History of PCI DSS
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