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PCI:DSS
The Payment Card Industry Data Security Standard (PCI:DSS); is a world-wide benchmark mandated by the card schemes for the protection of cardholder identity and transaction information. PCI standards aim to ensure that the environment in which card data is processed for both ‘Customer Present’ and ‘Not Present’ card transactions is secure. The standard applies to all merchants whether they trade online or though physical stores and will become mandatory as of January 2008.
Non-compliance with the standard can mean substantial fines imposed by the card schemes in the order of hundreds of thousands of pounds or, should a security incident arise, of being permanently barred from the card acceptance programme.
K3 EFT are working with various software providers (including Anderson Zaks: RedCard, ACK and Servebase) to allow a choice of PCI : DSS EFT applications to suit budgets, ensure smooth transition and meet customer requirements. This will allow merchants to reduce the overall cost of compliancy and be able to fast track their transition from their current non-compliant setup.
To further assist merchants, K3 are developing a managed PCI : DSS hosting service as part of our consulting services. This will effectively remove the need for merchants to host their own solution and have to maintain additional hardware, software and communications means, in store.
