The purpose of the Code is to demonstrate the industry's commitment to: Ensuring that merchants are fully aware of the costs associated with accepting credit and debit card payments, thereby allowing merchants to reasonably forecast their monthly costs related to accepting such payments. Each processor such as Global payments, Elavon, First Data and CT payments must adhere to the code
The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that ALL companies that accept, process, store or transmit credit card information maintain a secure environment.
The Payment Card Industry Security Standards Council (PCI SSC) was launched on September 7, 2006 to manage the ongoing evolution of the Payment Card Industry (PCI) security standards with a focus on improving payment account security throughout the transaction process. The PCI DSS is administered and managed by the PCI SSC , an independent body that was created by the major payment card brands (Visa, MasterCard, American Express, Discover and JCB.). It is important to note that the payment brands and acquirers are responsible for enforcing compliance, not the PCI council.
The PCI DSS applies to ANY organization, regardless of size or number of transactions, that accepts, transmits or stores any cardholder data.”
Payment Card Industry Data Security Standards (PCI DSS) are designed to provide merchants a single set of requirements for safeguarding sensitive data. These standards have been adopted by all the card brands in conjunction with the PCI DSS. The standards require that all merchants (regardless of their size or type of payment system) that store, process, transmit or have access to cardholder data must be in compliance to protect that data. Please clink on the link for further information.