What is PCI DSS? What is a PCI DSS Level 1 payment provider?

Created by Richard Moore, Modified on Fri, 02 Jun 2023 at 01:42 PM by Richard Moore

PCI DSS stands for Payment Card Industry Data Security Standard. It is a set of security standards established by major credit card companies, including Visa, Mastercard, American Express, Discover, and JCB International. The purpose of PCI DSS is to ensure the secure handling of credit card information to prevent fraud, data breaches, and other security incidents.

Exact Payments is a PCI DSS Level 1 provider. Level 1 is the highest level, typically reserved for providers that process over six-million transactions per year. These providers have to meet the most stringent requirements and are subject to thorough security assessments and audits to ensure compliance with PCI DSS.

To achieve and maintain PCI DSS compliance, Level 1 providers need to undergo annual on-site assessments by a Qualified Security Assessor (QSA) and also require regular network vulnerability scans by an Approved Scanning Vendor (ASV). These assessments and scans help identify any security vulnerabilities and ensure that appropriate measures are in place to protect cardholder data. 

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