What is PCI DSS 4.0?
In the ever-evolving landscape of online commerce, data security is paramount. As businesses continue to expand their digital presence, the Payment Card Industry Data Security Standard (PCI DSS) evolves alongside them.
All businesses that take credit card payments of any type must comply with the PCI standard or potentially face heavy fines. With the introduction of PCI DSS 4.0, businesses that handle card payments online face new challenges and opportunities to enhance their data protection practices.
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Can you be fined for PCI DSS 4.0 non-compliance?
UK businesses can be fined in two possible ways for PCI DSS non-compliance. First, if there’s a breach, your bank can be fined and choose to pass the cost onto you or close your business account.
Second, the Information Commissioner’s Office (ICO) has said that UK businesses must comply with the standard or offer an equivalent level of protection. Otherwise, they could be in breach of data protection law and suffer fines and other punishments by the ICO.
What your business has to do: Navigating PCI DSS 4.0 compliance.
PCI DSS 4.0, the latest version of the industry-standard security framework, was published in 2022. It comes into force on 31 March 2024, when version 3.2.1 is officially retired. 4.0 introduces significant changes that impact businesses accepting card payments. Here is a quick summary:
the latest Features:
The new version emphasises a “customised approach,” allowing businesses more flexibility in meeting requirements. However, this shouldn’t be misunderstood as a lenient approach. Each customised control must be carefully defined, maintained, and rigorously tested to meet the original PCI DSS objective.
Scoping and risk assessment.
Version 4.0 places more focus on scoping, requiring businesses to define and document the Cardholder Data Environment (CDE) annually. Risk assessments are refined, allowing targeted assessments for specific vulnerabilities and areas, ensuring a comprehensive evaluation of potential risks.
PCI DSS 4.0 introduces new mandates, including automated mechanisms to combat phishing, web application firewalls, and automated log reviews. Additional requirements for application and system-level accounts underscore the importance of securing every aspect of your online operations.
Recognising evolving technology, the new version acknowledges the diversity of network environments, especially in cloud infrastructures. It reinforces strong password practices and introduces dynamic security posture analysis as an alternative to frequent password changes.
How Netcomms Can Help:
Introducing PCI for iPECS Cloud.
At Netcomms, we’re committed to empowering businesses like yours to navigate the complexities of PCI DSS 4.0 compliance. Our solution, PCI for iPECS Cloud, revolutionises how you handle card payments over the phone. Whether you’re a local takeaway or a global insurance provider, PCI for iPECS Cloud ensures your voice service aligns with PCI regulations from the outset.
Your staff can seamlessly take card payments over the phone, knowing that the service is fully compliant with PCI regulations, ensuring the security of customer card details.
Eliminate the risk of fines or misplaced customer data. Our solution hides customer card details from staff handling payments, minimising potential breaches.
With a predictable monthly expenditure and no upfront charges, PCI for iPECS Cloud offers an ongoing, affordable solution, sparing you the high initial costs of other services.
As a Tier-1 PCI accredited Service Provider, our solution streamlines compliance. You’ll only need to complete the SAQ-A self-assessment, answering just 22 questions instead of the extensive SAQ-D assessment.
Versatile payment service providers.
PCI for iPECS Cloud seamlessly integrates with a range of payment service providers, including GlobalPayments, World Pay, Paysafe, SagePay, and more.
Unlock New Revenue Streams: Get in Touch with Netcomms.
Discover the power of PCI for iPECS Cloud in bolstering your online business’s security and compliance. Contact us today to learn more about how this solution can not only enhance your data protection but also create new revenue streams for your business. Secure transactions don’t have to be complex – with Netcomms, your journey towards PCI DSS 4.0 compliance is streamlined and rewarding.