In this article we’ll tell you:
- What PCI compliance in Canada means
- Difference between EMV chip & PCI standards
- Why you should get compliance with PCI DSS for your hotel or business
- Benefits of PCI
- exactly what you need to do in order get compliance with PCI DSS without hiring a PCI compliance manager
PCI security standards are security controls to protect the cardholder’s confidential information on payment cards, not just at the moment the card is swiped or dipped, but all the way through the transaction process.
www.pcisecuritystandards.org
EMV Chip & Pin and PCI Security Standards
It’s a common misconception that EMV chip & pin and PCI are the same thing. While both these terms work to protect identity theft and payment fraud, it’s important to know the difference.
The EMV chip is a technology that uses secret cryptographic keys to help protect against fraud at the point of sale and make payment cards more difficult to counterfeit. (source: www.emvco.com)
On the other hand, PCI security standards are a set of security controls for making sure that a customer’s card data is kept secure throughout the entire transaction process. (source: www.pcisecuritystandards.org)
The 5-Step Process to Get PCI Compliance in Canada:
Credit card data is a favorite target for cybercriminals. Moreover, the trend of online payments is at an all-time high due to COVID19. Hence the risk for fraudulent transactions is also at its peak.
Identifying the differing levels of exploit-ability should help an organization prioritize the actions it will take to enhance its IT security, based on these five elements:
- Identify the vulnerabilities, threats and risks – This step involves finding problems within your environment in the systems, applications and processes. When thieves are likely to take advantage of a vulnerability, that equals a risk.
- Analyze the risk levels – You need to decide what risk can and will impact your organization.
- Map out the card data flow – Map out how cardholder data fows within your organization, to identify and safeguard against key risks.
- Create a risk management strategy – The risk assessment should directly feed into your risk management strategy, and include planning, implementation and testing.
- Test the environment – It is difficult to find every weakness in your organization, so relying on an experienced resource for assistance can be key.
Benefits of Getting PCI compliance DSS for Your Hotel
PCI compliance DSS protects sensitive payment card data. It encrypts and tokenizes card data to render it useless in the event of hacking.
Moreover, achieving PCI compliance in Canada means your hotel will establish an ongoing best practices and security program. By securely managing devices, information, & type of data collected, no merchant has access to the encryption or decryption keys. So, card data is undecipherable within the merchant’s payment environment.
How to be a PCI DSS compliant business or hotel
Most of the time, the easiest way is to hire a PCI compliance manager. However, it can be a very costly and time-consuming process. Hence, at National Payments, we work together with each client in achieving compliance with PSI DSS for their brand or property. This results in a lot of time, money, and resources saved for the client.
When you sign up with National Payments, we will commit to working with you towards achieving PCI DSS compliance for your business or hotel.
Data breaches have become a fact of life, but that doesn’t mean your business has to be the next victim. National Payments can guide you through the process in the ongoing battle against cybercrime, while saving you money, minimising confusion, and reducing your risk.