Data and Payment Security – part 2
In the last email we looked at security of personal data. This time we examine the issue of payment data security. The benefits of increasing the security around the collection of personally identifiable information goes beyond credit card fraud to include helping merchants win chargebacks due to friendly fraud.
Why Secure your Data and Payment Information?
The standard for payment security is known as PSI-DSS (Payment Security Industry – Data Storage Standard). This standard relates to all payments made by credit cards, debit cards and prepaid store cards. If you take a payment in any form, directly, over the phone, by internet, or by mobile then you must comply with the standard.