The Value of Payment Card Industry Data Security Standard

2007-03-08 10:33:40

( Business )



You may be wondering what the importance of payment card industry data security standard is. You know that it performs a certain function or it wouldn’t have been created by the payment card industry. As a credit card user, it may be high time for you to find out exactly what this function is.

Payment card industry data security standard was created by the payment card industry to prevent hacking, credit card fraud, identity theft, and other security issues that may arise from electronic funds transactions. It is really important to keep the payment card industry safe and clean. If there were no payment card industry data security standard, you would likely be getting unauthorized credit card charges. You will be very vulnerable to hackers who breach databases and steal other people’s credit card information.

There are people who make false claims and obtain merchandise through illegal means like credit card payment fraud. Without payment card industry data security standard, there will be more such people. Just imagine the other security breaches that the new generation of hackers is capable of perpetrating.

It would be a huge disaster if there were no payment card industry data security standard. The world would be in total disarray since credit card payment for goods and services has become mainstream. Millions of people take the services and benefits of the payment card industry for granted. After all, it is a lot easier to carry a card in your wallet than carry wads of cash in your pocket or wallet.

The credit card payment practice is also a lot safer since cards are more inconspicuous than cash. It is also more convenient because you would not have to waste a lot of time trying to count the cash you have with you. With credit cards, you will only have to swipe it through the credit card payment terminal or wave it near some remote credit card readers and you can buy the item you wanted.

Indeed, the payment card industry has taken the payment system onto a whole new level, but if it is breached the world will suffer dire consequences. Thankfully, there is the payment card industry pci data security standard that will minimize the risks associated with credit card payment transactions.


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