PCI compliance should be at the heart of every business’ operations if they are going to be handling sensitive data from customers. Understanding the different PCI DSS levels of compliance can be tricky, and knowing which level you need to pay attention to most can be even more confusing.
Read on to discover more about why compliance matters and what the various levels are.
What is PCI DSS compliance?
PCI DSS is the set of standards that make sure that you are storing, handling and transmitting financial data in a way that eliminates the risk of data breaches.
The PCI levels are described below:
- Level 1
Merchants processing over 6 million card transactions per year
- Level 2
Merchants processing 1-6 million transactions per year
- Level 3
Merchants handling 20,000 to 1 million transactions per year
- Level 4
Merchants handling fewer than 20,000 transactions per year
Always make sure that the level you are certified for takes into account any increase in transactions for the period during which the certification applies.
For example:Your business is currently on average processing between 20,000 and 1million Visa or MasterCard e-Commerce transactions annually, and you are fully compliant to PCI DSS level 3.Due to a high level of customer retention and an influx of new processes coming through, your processed number of transactions tips over 1million per year. This will mean that you are no longer PCI DSS compliant.
If you want to minimise exposing yourself to risk and potential fines, then ensure that your business has the necessary level of PCI-compliance.
cardassure is a PCI-compliant, cloud-based, phone payment solution, designed to be affordable for SMEs. Integrating sophisticated technology into the way you manage transactions over the phone will ultimately give you more time to focus on other aspects of your business.
Grow your business with cardassure technology
cardassure provides a secure and user friendly experience for your customers. Allowing your customers to speak to a human being, without having to verbally exchange any sensitive data will benefit your brand in the way it becomes recognised as a trustworthy and personable merchant.
Ultimately, this will have a positive knock-on effect on your customer retention statistics, encouraging customers to continue making purchases with your business over the phone.
Want to learn more about cardassure? Contact us today, and discover the safest way to manage your phone payments.